The market for coastal property in Pinellas County starts right on the shores of our award winning beaches.
Here is where we’ve been in 2020 and 2021 and here is where we are so far this year.
Gulf Front Condos median price per sq.ft.
The lion’s share of appreciation occured between January 2021 and July 2021. That is consistent with the residential Real Estate market across the country.
After a bit of a spike in January this year we seem to be back at the quarter three 2021 levels.
We will see what the month of March brings.
Mortgage Rates Decrease Slightly
Even with this week’s decline, mortgage rates have increased more than a full percent over the last six months. Overall economic growth remains strong, but rising inflation is already impacting consumer sentiment, which has markedly declined in recent months. As we enter the spring homebuying season with higher mortgage rates and continued low inventory, we expect home price growth to remain firm before cooling off later this year.
