Luxury Market Update Pinellas County Florida March 2, 2007
By Sharon Simms, St. Petersburg FL - CRS CIPS CLHMS RSPS
(Coastal Properties Group International - Christie's International)
Pinellas County, Florida, which encompasses St. Petersburg, Clearwater, various beach communities along the Gulf of Mexico and many small municipalities, sold 15,386 properties in 2006 through the Multiple Listing System. 341 of those (2.2%) were over $1,000,000; 703 (4.6%) were over $750,000; and 1,622 (10.5%) were over $500,000. More of these were on the mainland than on the beaches, and more were in south county (St. Petersburg) than in north county (Clearwater). There are currently 17,852 properties listed as Active in the Pinellas County Multiple Listing System, a 1.16 year supply, based on 2006 sales. There are, however, 1168 properties listed over $1,000,000, a 3.4 year supply, based on 2006 sales.What does this mean? It partly means that more properties were built over $1,000,00...
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