Florida Home Sales Rise, While Inventories Fall

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Real estate in several Florida counties were bright at the end of 2019. This was particularly true in Pinellas, Hillsborough, Pasco and Hernando counties.

Single-family home sales rose more than 25% December 2019 versus December 2018. Cash sales also increased.

As a result, the list of homes available has dropped throughout Pinellas, Pasco, Hillsborough, and Hernandez counties. One couple even paid $4.7 million dollars for a five-bedroom home in Reddington Beach, but incredibly, it came in as the 20th most expensive sale of the year. In 2015 it would have been third.

In Hillsborough, the amount of single family homes sold rose 26% each year. Pasco saw a 27% increase in the same single family home sales. Pinellas saw 19% and Hernando only 2%. Median time to sell ranged from 66 days to 77 days.

Even more telling, investors bought more homes in December 2019 in Hillsborough. Investment purchases are typically indicated by cash transactions. Nearly one in five sales were made via cash last month. In Pasco, that number was even higher at one in four sales. To read more, click here.

In January 2020, the most expensive home in Florida, formerly owned by Philles slugger Ryan Howard, was purchased for $16.5 Million by Ben and Karla Mallah. Located in Bellair Shore, this 19,578 square feet home boasts eight bedrooms and seven bathrooms.

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