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Luxury Real Estate Market Update – Pinellas County – June 2008

Luxury Market Update – June 2008 – Pinellas County, Florida
St. Petersburg, Florida … July 7, 2008

May was a hard month to follow, with its record high priced sale at $10,250,000. May also had the highest number of monthly single family luxury sales (over $1 Million) this year. June is less on both counts, but still the second highest number this year. The number of luxury condo sales also decreased, partly due to the season and partly due to the new building closings. What’s more relevant, though, is the number of properties going to contract.

As you can see, recent sales have favored resale condos rather than new ones.

There is less luxury inventory now in Pinellas County than in any month this year, both in single family and in condos.

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