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Monthly Market Detail - October 2020Single Family HomesPinellas CountyMonthDollar VolumeThe sum of the sale prices for all sales which closedduring the monthEconomists' note : Dollar Volume is simply the sum of all sale pricesin a given time period, and can quickly be calculated by multiplyingClosed Sales by Average Sale Price. It is a strong indicator of the healthof the real estate industry in a market, and is of particular interest toreal estate professionals, investors, analysts, and government agencies.Potential home sellers and home buyers, on the other hand, will likelybe better served by paying attention to trends in the two componentsof Dollar Volume (i.e. sales and prices) individually.20162017Year-to-DateOctober 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192018Dollar VolumePercent ChangeYear-over-Year 4.4 Billion 557.4 Million 517.7 Million 533.7 Million 561.8 Million 492.9 Million 286.7 Million 326.2 Million 445.6 Million 342.2 Million 289.4 Million 427.6 Million 327.5 Million 376.6 .1%3.1%15.3%26.0%0.0%4.4%20192020 600 MDollar Volume 500 M 400 M 300 M 200 M 100 M 0J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OMedian Percent of Original List Price ReceivedThe median of the sale price (as a percentage of the original listprice) across all properties selling during the monthEconomists' note : The Median Percent of Original List Price Receivedis useful as an indicator of market recovery, since it typically rises asbuyers realize that the market may be moving away from them andthey need to match the selling price (or better it) in order to get acontract on the house. This is usually the last measure to indicate amarket has shifted from down to up, so it is what we would call alagging indicator.Med. Pct. of Orig.List Price Received201620172018MonthYear-to-DateOctober 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192019Med. Pct. of Orig.List Price ReceivedPercent 120%100%80%60%40%20%0%J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, November 19, 2020. Next data release is Tuesday, December 22, 2020.

Monthly Market Detail - October 2020Single Family HomesPinellas CountyMonthMedian Time to ContractThe median number of days between the listing dateand contract date for all Closed Sales during the monthEconomists' note : Like Time to Sale, Time to Contract is a measure ofthe length of the home selling process calculated for sales which closedduring the month. The difference is that Time to Contract measuresthe number of days between the initial listing of a property and thesigning of the contract which eventually led to the closing of the sale.When the gap between Median Time to Contract and Median Time toSale grows, it is usually a sign of longer closing times and/or decliningnumbers of cash sales.20162017Year-to-DateOctober 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192018Median Time toContractPercent ChangeYear-over-Year18 Days10 Days9 Days14 Days19 Days28 Days22 Days17 Days21 Days30 Days32 Days28 Days24 Days23 -30.0%-38.8%-11.1%3.7%-7.7%-23.3%20192020Median Time toContract6050403020100J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OMonthMedian Time to SaleThe median number of days between the listing dateand closing date for all Closed Sales during the monthEconomists' note : Time to Sale is a measure of the length of the homeselling process, calculated as the number of days between the initiallisting of a property and the closing of the sale. Median Time to Sale isthe amount of time the "middle" property selling this month was onthe market. That is, 50% of homes selling this month took less time tosell, and 50% of homes took more time to sell. Median Time to Salegives a more accurate picture than Average Time to Sale, which can beskewed upward by small numbers of properties taking an abnormallylong time to sell.Median Time toSale201620172018Year-to-DateOctober 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192019Median Time to SalePercent ChangeYear-over-Year59 Days51 Days50 Days56 Days62 Days67 Days63 Days56 Days58 Days68 Days70 Days67 Days61 Days64 -12.1%-21.8%-6.7%6.3%-6.2%-5.9%2020100806040200J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, November 19, 2020. Next data release is Tuesday, December 22, 2020.

Monthly Market Detail - October 2020Single Family HomesPinellas CountyMonthNew Pending SalesThe number of listed properties that went undercontract during the monthEconomists' note : Because of the typical length of time it takes for asale to close, economists consider Pending Sales to be a decentindicator of potential future Closed Sales. It is important to bear inmind, however, that not all Pending Sales will be closed successfully.So, the effectiveness of Pending Sales as a future indicator of ClosedSales is susceptible to changes in market conditions such as theavailability of financing for homebuyers and the inventory ofdistressed properties for sale.20162017Year-to-DateOctober 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192018New Pending SalesPercent 0.7%20192020Pending Sales2,0001,5001,0005000J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OMonthNew ListingsThe number of properties put onto the market duringthe monthEconomists' note : New Listings tend to rise in delayed response toincreasing prices, so they are often seen as a lagging indicator ofmarket health. As prices rise, potential sellers raise their estimationsof value—and in the most recent cycle, rising prices have freed upmany potential sellers who were previously underwater on theirmortgages. Note that in our calculations, we take care to not includeproperties that were recently taken off the market and quickly relisted,since these are not really new listings.201620172018Year-to-DateOctober 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192019New ListingsPercent .2%-9.6%2020New Listings2,0001,5001,0005000J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, November 19, 2020. Next data release is Tuesday, December 22, 2020.

Monthly Market Detail - October 2020Single Family HomesPinellas CountyMonthInventory (Active Listings)The number of property listings active at the end ofthe monthEconomists' note : There are a number of ways to define and calculateInventory. Our method is to simply count the number of active listingson the last day of the month, and hold this number to compare with thesame month the following year. Inventory rises when New Listings areoutpacing the number of listings that go off-market (regardless ofwhether they actually sell). Likewise, it falls when New Listings aren'tkeeping up with the rate at which homes are going off-market.20162017YTD (Monthly Avg)October 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192018InventoryPercent 02,0001,0000J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OMonthMonths Supply of InventoryAn estimate of the number of months it will take todeplete the current Inventory given recent sales ratesEconomists' note : MSI is a useful indicator of market conditions. Thebenchmark for a balanced market (favoring neither buyer nor seller) is5.5 months of inventory. Anything higher is traditionally a buyers'market, and anything lower is a sellers' market. There is no singleaccepted way of calculating MSI. A common method is to dividecurrent Inventory by the most recent month's Closed Sales count, butthis count is a usually poor predictor of future Closed Sales due toseasonal cycles. To eliminate seasonal effects, we use the 12-monthaverage of monthly Closed Sales instead.Months Supply ofInventory201620172018YTD (Monthly Avg)October 2020September 2020August 2020July 2020June 2020May 2020April 2020March 2020February 2020January 2020December 2019November 2019October 20192019Months SupplyPercent 3.53.02.52.01.51.00.50.0J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S OProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, November 19, 2020. Next data release is Tuesday, December 22, 2020.

Monthly Market Detail - October 2020Single Family HomesPinellas CountyClosed Sales by Sale PriceThe number of sales transactions which closed duringthe monthEconomists' note: Closed Sales are one of the simplest—yet mostimportant—indicators for the residential real estate market. Whencomparing Closed Sales across markets of different sizes, werecommend comparing the percent changes in sales rather than thenumber of sales. Closed Sales (and many other market metrics) areaffected by seasonal cycles, so actual trends are more accuratelyrepresented by year-over-year changes (i.e. comparing a month's salesto the amount of sales in the same month in the previous year), ratherthan changes from one month to the next.October 2019Closed Sales300Closed SalesPercent ChangeYear-over-YearLess than 50,0000-100.0% 50,000 - 99,9999-59.1% 100,000 - 149,99936-47.1% 150,000 - 199,99985-45.5% 200,000 - 249,999190-9.1% 250,000 - 299,99920920.1% 300,000 - 399,99927337.2% 400,000 - 599,99924248.5% 600,000 - 999,99911960.8% 1,000,000 or more71144.8%Sale PriceOctober 2020300250250200200150150100100505000Less than 50,000 50,000 99,999 100,000 149,999 150,000 199,999 200,000 249,999 250,000 299,999The median number of days between the listing dateand contract date for all Closed Sales during the monthMedian Time to ContractEconomists' note : Like Time to Sale, Time to Contract is a measure ofthe length of the home selling process calculated for sales which closedduring the month. The difference is that Time to Contract measuresthe number of days between the initial listing of a property and thesigning of the contract which eventually led to the closing of the sale.When the gap between Median Time to Contract and Median Time toSale grows, it is usually a sign of longer closing times and/or decliningnumbers of cash sales.October 2019Less than 50,000 50,000 99,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreMedian Time toContractPercent ChangeYear-over-YearLess than 50,000(No Sales)N/A 50,000 - 99,99920 Days81.8% 100,000 - 149,99910 Days-41.2% 150,000 - 199,9999 Days-47.1% 200,000 - 249,9998 Days-72.4% 250,000 - 299,9998 Days-65.2% 300,000 - 399,99910 Days-44.4% 400,000 - 599,9998 Days-74.2% 600,000 - 999,99916 Days-83.0% 1,000,000 or more21 Days-71.6%Sale PriceMedian Time to Contract by Sale Price1009080706050403020100 300,000 399,999October 2020 100,000 149,999 150,000 199,999 200,000 249,9991009080706050403020100 250,000 299,999 300,000 399,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, November 19, 2020. Next data release is Tuesday, December 22, 2020.

Monthly Market Detail - October 2020Single Family HomesPinellas CountyNew Listings by Initial Listing PriceThe number of properties put onto the market duringthe monthEconomists' note: New Listings tend to rise in delayed response toincreasing prices, so they are often seen as a lagging indicator ofmarket health. As prices rise, potential sellers raise their estimationsof value—and in the most recent cycle, rising prices have freed upmany potential sellers who were previously underwater on theirmortgages. Note that in our calculations, we take care to not includeproperties that were recently taken off the market and quickly relisted,since these are not really new listings.New ListingsOctober 2019New ListingsPercent ChangeYear-over-YearLess than 50,0000N/A 50,000 - 99,99911-69.4% 100,000 - 149,99932-51.5% 150,000 - 199,99998-41.7% 200,000 - 249,999211-5.8% 250,000 - 299,99925220.6% 300,000 - 399,99935147.5% 400,000 - 599,99928345.9% 600,000 - 999,99914128.2% 1,000,000 or more7958.0%October 00Less than 50,000 50,000 99,999 100,000 149,999 150,000 199,999 200,000 249,999 250,000 299,999The number of property listings active at the end ofthe monthEconomists' note : There are a number of ways to define and calculateInventory. Our method is to simply count the number of active listingson the last day of the month, and hold this number to compare with thesame month the following year. Inventory rises when New Listings areoutpacing the number of listings that go off-market (regardless ofwhether they actually sell). Likewise, it falls when New Listings aren'tkeeping up with the rate at which homes are going off-market.October 2019500450400350300250200150100500Less than 50,000 50,000 99,999 300,000 399,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreInventoryPercent ChangeYear-over-YearLess than 50,0004-20.0% 50,000 - 99,99919-61.2% 100,000 - 149,99951-54.1% 150,000 - 199,999118-56.0% 200,000 - 249,999194-43.3% 250,000 - 299,999208-43.8% 300,000 - 399,999301-32.1% 400,000 - 599,999313-31.1% 600,000 - 999,999232-42.3% 1,000,000 or more209-26.1%Current Listing PriceInventory by Current Listing PriceInventoryInitial Listing PriceOctober 2020 100,000 149,999 150,000 199,999 200,000 249,999500450400350300250200150100500 250,000 299,999 300,000 399,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, November 19, 2020. Next data release is Tuesday, December 22, 2020.

Monthly Distressed Market - October 2020Single Family HomesPinellas CountyClosed SalesOctober 2020October 2019Percent ChangeYear-over-Year1,2161,05715.0% 328,750 278,00018.3%1331-58.1% 266,000 163,10063.1%57-28.6% 255,000 214,80018.7%TraditionalMedian Sale PriceClosed SalesForeclosure/REOMedian Sale PriceClosed SalesShort SaleMedian Sale 0Short Sale100%90%Closed Sales80%70%60%50%40%30%20%10%0%J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O 350K 300KMedian Sale Price 250K 200K 150K 100K 50K 0KJ F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O20162017201820192020Produced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, November 19, 2020. Next data release is Tuesday, December 22, 2020.

Monthly Market Detail - October 2020Townhouses and CondosPinellas CountyOctober 2020October 2019Percent ChangeYear-over-Year88770925.1%43835922.0%Median Sale Price 215,000 175,00022.9%Average Sale Price 302,631 252,83219.7% 268.4 Million 179.3 Million49.7%96.5%95.6%0.9%Median Time to Contract23 Days41 Days-43.9%Median Time to Sale61 Days77 Days-20.8%New Pending Sales88773021.5%New Listings98289110.2%Pending Inventory1,15794322.7%Inventory (Active Listings)1,7102,116-19.2%Months Supply of Inventory2.42.8-14.3%Closed SalesPercent -35.7%-8.2%2.7%-4.6%10.1%-12.1%0.7%Summary StatisticsClosed SalesPaid in CashDollar VolumeMedian Percent of OriginalList Price ReceivedClosed SalesMonthThe number of sales transactions which closed duringthe monthEconomists' note : Closed Sales are one of the simplest—yet mostimportant—indicators for the residential real estate market. Whencomparing Closed Sales across markets of different sizes, werecommend comparing the percent changes in sales rather than thenumber of sales. Closed Sales (and many other market metrics) areaffected by seasonal cycles, so actual trends are more accuratelyrepresented by year-over-year changes (i.e. comparing a month's salesto the amount of sales in the same month in the previous year), ratherthan changes from one month to the next.201620172018Year-to

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