According to the latest numbers, Pinellas County is now considered to be in a neutral housing market. A neutral market occurs when there are enough homes for sale to meet the demand. We've seen a very slow trend away from a seller's market in 2022 and home prices are entering a more comfortable range for buyers. In a neutral market homes stay on the market for a more typical length of time rather than the frenzy we had been experiencing for the last two years. Now, if you are looking to buy a home in a particularly desirable neighborhood, you may never truly experience a neutral market.
HOMES ARE SELLING FAST... BUT NOT AS FAST The average sale time in our county has gone from 19 days on the market in January of '22 to 43 days as of January '23. So, if you're buying, you'll still need to get those offers in fast, but the bidding wars may be quieting down a bit.