Now that we’re coming into the Summer Housing Market let’s take a look at what happened in June of this year compared to the last five years. The study includes all residential Real Estate in Pinellas County including Condominiums, Townhouses, Villas and Single Family Homes.
The median sale price increased 18% year over year from June of 2020 to June of this year. The median sales price has increased 31% overall since June of 2017. Interesting to note the record number of sales in June this year in spite of a very limited supply of available listings.
42% of sales sold for cash in June of this year. Buyers who opted to get a mortgage enjoyed record low mortgage rates.
Todays Mortgage Rates
Mortgage Rates Inch Down July 1, 2021
Economic growth remains steady and is bolstering more segments of the economy. Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.
