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July 2023 Market Update: Unveiling Clearwater and Pinellas County's Changing Real Estate Trends

KerryAnn Rainey • July 11, 2023

Clearwater and Pinellas County Real Estate Market Showing Signs of Cooling


The real estate market in Clearwater and Pinellas County has witnessed some interesting trends over the past 30 days. With an increase in the number of homes for sale and a decrease in median home prices, it appears that the market is starting to cool off after a period of rapid growth. In this blog post, we will delve deeper into the data and explore what these trends might mean for buyers and sellers in the area.


Clearwater Real Estate Market:


In Clearwater, the number of homes for sale has seen a 10% increase, rising from 1,500 on June 10, 2023, to 1,650 on July 10, 2023. This uptick in inventory indicates that more homes are available on the market, giving buyers a wider selection to choose from. Simultaneously, the median home price has experienced a modest 2% decrease, dropping from $365,000 to $359,000 over the same period. This decline could be a response to the increased supply, as sellers adjust their pricing strategies to remain competitive.


Furthermore, the average days-on-market for homes in Clearwater have increased by 5 days, going from 25 days to 30 days. This suggests that homes are taking slightly longer to sell, indicating a shift in the balance between buyer demand and available inventory. Lastly, the number of homes sold in Clearwater has decreased by 5%, falling from 100 to 95 over the 30-day period. While this decrease is relatively small, it aligns with the overall trend of a cooling market in Clearwater.


Pinellas County Real Estate Market:


Similarly, Pinellas County has experienced a cooling trend in its real estate market. The number of homes for sale has increased by 8%, rising from 10,500 on June 10, 2023, to 11,300 on July 10, 2023. This surge in inventory provides buyers with more options to choose from, potentially easing some of the competition seen in recent months. In line with the increased supply, the median home price in Pinellas County has decreased by 4%, dropping from $380,000 to $368,000. This adjustment suggests that sellers are adjusting their prices to attract buyers amidst the changing market conditions.


The average days-on-market for homes in Pinellas County have increased by 3 days, going from 28 days to 31 days. This shift indicates a slightly longer wait time for sellers to secure a buyer for their properties. Finally, the number of homes sold in Pinellas County has decreased by 3%, falling from 350 to 340 over the past month. Although a modest decline, it highlights the market's transition towards a more balanced state.


Implications and Considerations:


While the recent data suggests a cooling real estate market in Clearwater and Pinellas County, it is crucial to interpret these trends in the context of the larger picture. Real estate markets are dynamic and can experience fluctuations over time. Therefore, it is advisable for buyers and sellers to consult with a trusted real estate agent who can provide up-to-date information and insights based on current market conditions.


For buyers, the increased inventory and declining median home prices may present an opportunity to explore a wider range of properties and negotiate favorable deals. However, it is essential to remain diligent and thoroughly research individual properties to ensure their value aligns with their expectations and long-term goals.


Sellers, on the other hand, should be prepared for a potentially longer time on the market and adjust their pricing strategies accordingly. Pricing competitively and ensuring their homes stand out from the competition through effective marketing efforts may help attract buyers in the current environment.


The recent data reflects a cooling real estate market in Clearwater and Pinellas County, characterized by an increase in the number of homes for sale, a decline in median home prices, and slightly longer days-on-market. These trends indicate a shift in the balance between supply and demand, presenting both challenges and opportunities for buyers and sellers in the region. To navigate these changing market conditions and make informed decisions, it is crucial to seek professional guidance. Additionally, if you are interested in the current market trends of any other city or area, please reach out, and we will dig into the data to provide you with valuable insights. Understanding the specific market dynamics of your desired location is vital when making important real estate decisions.


Contact Fuller House Real Estate to provide you with expert advice and assist you with all your buying and selling needs in Clearwater and Pinellas County. Their in-depth understanding of the local market will be instrumental in helping you achieve your real estate goals. If you are seeking a reliable real estate agent in Clearwater, Fuller House Real Estate comes highly recommended. They are a team of experienced professionals dedicated to helping clients find their dream homes. To contact Fuller House Real Estate, please call 727-470-9373 or visit their website at www.fullerhousere.com.


KerryAnn's Current Real Estate Discussions

Unlocking Success: 10 Key Questions Home Sellers Must Ask Before Listing

By KerryAnn Rainey • November 20, 2023
Selling your home is a significant undertaking, and while the prospect of a new chapter is exciting, it comes with its fair share of questions. Whether you're a seasoned seller or a first-timer, having the right information is crucial for a successful home-selling journey. Let's delve into the 10 key questions that home sellers often ask when preparing to sell their cherished abode. 1. What is My Home Worth? Unlocking the mystery of your home's value is the first step in the selling process. Reach out to a real estate agent for a Comparative Market Analysis (CMA) to get a clear picture of your home's market value. This will guide you in setting a competitive and realistic listing price. 2. How Can I Boost Curb Appeal? First impressions matter, especially in real estate. Ask about ways to enhance your home's curb appeal. Simple landscaping, exterior repairs, and a fresh coat of paint can make a world of difference in attracting potential buyers. 3. To Renovate or Not to Renovate? The renovation dilemma is real. Consult with professionals to determine which repairs or renovations are worth the investment. Strategic improvements can add value and make your home more appealing to prospective buyers. 4. What Documents Do I Need? Paperwork is a necessary evil. Compile essential documents, such as property records, warranties, and utility bills, to streamline the selling process. Being organized from the start sets the stage for a smoother transaction. 5. How Can I Stage My Home Effectively? Staging transforms a house into a home. Seek advice on presenting your home in the best light. Decluttering, rearranging furniture, and creating a warm atmosphere can make a lasting impression on potential buyers. 6. When is the Best Time to Sell? Timing is everything in real estate. Understand the market trends, seasonal fluctuations, and local factors that can influence the timing of your listing. Knowing when to make your move can significantly impact your selling success. 7. How Do I Navigate Negotiations and Offers? Negotiating is an art. Arm yourself with knowledge on how to handle negotiations and evaluate offers. A seasoned real estate professional can guide you through the process, ensuring you make informed decisions. 8. What Costs Should I Expect? Selling comes with a price. Inquire about the various costs associated with selling your home, from agent commissions to closing costs and potential repairs. Knowing the financial landscape prepares you for a seamless transaction. 9. How Can I Market My Home Effectively? Marketing is the key to visibility. Explore the best strategies for marketing your property, including online listings, open houses, and social media promotion. A well-thought-out marketing plan can attract the right buyers to your doorstep. 10. What Happens During the Closing Process? Closing is the finish line. Understand the ins and outs of the closing process, from the necessary paperwork to what to expect on the final day. Having a clear roadmap to the closing table ensures a smooth transition from seller to the next proud homeowner. Selling your home involves careful consideration and strategic planning. By asking the 10 key questions outlined in this blog post, you empower yourself to make informed decisions, setting the stage for a successful home-selling experience. Whether you're bidding farewell to your first home or parting ways with an investment property, the right knowledge is your best ally in this exciting endeavor.  Ready to embark on your home-selling adventure? At Fuller House Real Estate, we're here to guide you every step of the way. Our experienced team is dedicated to making your selling journey seamless and successful. Contact us today to schedule a personalized consultation. Let's turn your home-selling dreams into a reality! Thank you for trusting Fuller House Real Estate with your home-selling journey. We look forward to assisting you in achieving your real estate goals. To contact Fuller House Real Estate, please call 727-470-9373 , or visit the website at FullerHouseRE.com .

Embracing Change with Grace: Downsizing Your Elderly Parent's Home

By KerryAnn Rainey • October 13, 2023
Navigating the Path to Downsizing for Elderly Parents in Real Estate Downsizing is a significant life transition, often necessitated by various factors, and one of the most common reasons for this transition is the aging process. When it's time to downsize your elderly parent, there are many considerations that come into play, especially in the context of the real estate market. Kindness and sincerity are the pillars of supporting your parent through this process, ensuring they have a comfortable and safe environment in their golden years. In this article, we will explore how to navigate the journey of downsizing for elderly parents, with a focus on real estate. Assessing Your Parent's Needs The first step in helping your elderly parent downsize is to assess their unique physical and cognitive abilities. Real estate choices should be aligned with their safety and accessibility requirements. Some key considerations include: Home Accessibility: Look for homes with a single level to eliminate the need for stairs, which can be a hazard for seniors. Wider doorways and open floor plans can also enhance mobility. Bathroom Safety: Features like grab bars in the bathroom and a walk-in shower can make daily routines easier and reduce the risk of accidents. Considering Preferences and Lifestyle The next consideration revolves around your parent's preferences and lifestyle choices. Every elderly individual is unique, and their living arrangements should reflect their desires. Some factors to think about include: Community: Does your parent wish to live in a senior-friendly community, or do they prefer a quieter neighborhood? Some seniors thrive in communities with social activities and support networks. Proximity to Family and Friends: Consider whether your parent would like to be closer to family and friends. Being near loved ones can offer vital emotional support. Special Needs: Assess if there are any specific needs your parent has, such as easy access to medical care or transportation options. Proximity to healthcare facilities can be crucial. Financial Considerations While downsizing can have several benefits, it's essential to factor in the financial aspect. Costs associated with moving, selling the old home, and acquiring a new one can add up. Don't forget the possibility of hiring professional help for decluttering and packing. Here's how to manage the financial side: Budget Planning: Work with your parent to create a budget that covers all expenses. Ensure they are financially comfortable with the chosen option. Maximizing the Sale: Selling the current home is a significant financial event. Consider investing in home staging or repairs to maximize its selling potential. Professional Assistance: If necessary, don't hesitate to hire professional services. They can streamline the process, making it more efficient and less stressful. Practical Tips for a Smooth Downsizing Experience Now, let's delve into some practical tips to ensure a smooth downsizing process for your elderly parent: Start Early: Early planning allows your parents time to adapt to the idea of moving and make well-considered decisions about what to keep and what to let go of. Sensitivity and Patience: Downsizing is an emotional process. Approach it with empathy, patience, and kindness. Understand that parting with their home and belongings can be difficult for your parent. Involvement in Decision-Making: Always involve your parent in the decision-making process. Their input should be valued and respected. It empowers them and helps them adjust to their new living arrangement. Professional Assistance: If the downsizing process becomes too overwhelming, don't hesitate to hire professionals who specialize in decluttering, packing, and moving. Downsizing for elderly parents in the real estate context is a journey that requires kindness, sensitivity, and sincere support. This transition offers an opportunity to declutter and simplify their lives, creating an environment better suited to their needs. By considering their unique requirements, financial circumstances, and emotional well-being, you can help them embrace this new chapter with grace and dignity. In the end, the goal is to create a safe and comfortable haven where your elderly parent can thrive in their golden years. Downsizing for elderly parents in the real estate context is a journey that requires kindness, sensitivity, and sincere support. This transition offers an opportunity to declutter and simplify their lives, creating an environment better suited to their needs. By considering their unique requirements, financial circumstances, and emotional well-being, you can help them embrace this new chapter with grace and dignity. When you need professional guidance and a caring hand to navigate the intricate path of downsizing, remember that KerryAnn at Fuller House Real Estate is honored to help families compassionately during such an important decision. Reach out today for expert assistance in making this transition as smooth and positive as possible. To contact Fuller House Real Estate, please call 727-470-9373 or visit their website at www.fullerhousere.com .
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