Pinellas County homebuyers face competitive market

PINELLAS COUNTY — Homebuyers in Pinellas County can expect a continued competitive single-family market, according to a statement from the Pinellas Realtor Organization.

With a 3.4-month supply, the county's single-family inventory in April was down 9.6% compared to April 2015, the statement says. There was a 4.1-month supply at this time last year.

That lowered inventory follows a strong sales month in Pinellas County, according to the statement. The number of closed sales for single-family, townhomes and condos combined was 2,202, a 4.8% increase over April 2015.

Homes are also selling quicker and at a higher median price than they were a year ago. The median time to sell for single-family homes fell to 73 days, down from 83 in April 2015. The median sales price increased 11.1% to $200,000.

Here's a look at the median sale price for single-family homes dating back to last April:
Month: Median sale price
April 2016: $200,000
March 2016: $200,000
February 2016: $189,700
January 2016: $193,000
December 2015: $187,000
November 2015: $183,750
October 2015: $180,000
September 2015: $190,000
August 2015: $181,399
July 2015: $185,000
June 2015: $185,000
May 2015: $185,000
April 2015: $180,000

The Pinellas Realtor Association is one of the largest professional trade associations in the Tampa area. It has nearly 7,000 members.