October 2018 Monthly Real Estate Update

October 1, 2018 by The727Team

What’s included in every real estate update?

Interesting Real Estate Stats

Recommended Articles Of The Month And Why

Real Estate Local News

Interesting Real Estate Stat For This Edition:

Every month we’ll pull an interesting stat for you directly from our MLS for Pinellas County.

This month we review the city of Clearwater. The graph below reflects the average residential sales price over the past 10 years in Clearwater. (34,702 listings).

Time frame is from January 2008 to September 2018

Property Type: Residential

City is ‘Clearwater’

Results calculated from 34,702 listings


Here is a more specific breakdown by year of the average residential sales price in Clearwater:

2008 – $243,287

2009 – $185,832

2010 – $188,953

2011 – $165,497

2012 – $171,904

2013 – $189,177

2014 – $189.427

2015 – $199,109

2016 – $222,470

2017 -$243,960

2018 – $250,686

When reviewing this data, you can see that it isn’t until recently that Clearwater has reached similar sales prices as there were in 2008.

Other Pinellas Cities such as Seminole, and St Petersburg have recovered faster and grown beyond their 2008 numbers.

For example: Seminole 2008 was – $202,135 and Seminole 2018 is – $243,641 for average residential sales price.

St Petersburg 2008 was – $191,459 and St Petersburg 2018 is – $279,612 for average residential sales price.

You might be wondering what’s the big difference that drove growth? Both Seminole and St Petersburg are cities that have had major developments respectively drive their local economies. Seminole is a small city and didn’t need much, but with the introduction of the outdoor mall Seminole City Center, there’s much more demand in the Seminole market.

St Petersburg is also rapidly expanding, capitalizing on it’s water-side, keeping it local vibe. We’ve had many people describe St Pete feeling like a city that would be in Europe. High rise condos are still being constructed, downtown is expanding and all eyes are on the limited amount of real estate in the surrounding areas.

Recommended Articles Of The Month:

We’ll recommend the best articles to you that were published since the last update.

Learn About Bay Pines – Bay Pines is an area between Seminole and St Petersburg. Home to the VA, it’s a beautiful small area with waterfront views. We decided Bay Pines deserved a spotlight in our community write-ups and we wrote a guide to share with you.


Real Estate Local News:

Here are some local news stories you may enjoy!

FEMA Updated The Flood Maps-  It’s been awhile since the flood maps were last updated. Because of the update, some home-owners may see changes in their flood insurance premiums.


Mortgage Rates Continue To Rise – Here is the latest update on the rise in mortgage rates.


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727team.com Monthly Real Estate Update