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How’s the Market? Pinellas County Oct 2023 Real Estate Report

Real estate Market Detail - October 2023

Written by Kathleen Seide

I have a passion for helping others meet their goals. I focus on the important issues facing people. I am curious and adventurous by nature. I love exploring and understanding the world, sometimes that means meditation and other times I hike hours into the wilderness to see where a path leads.

November 27, 2023


Inflation this year and increased interest rates have cooled buyer activity slightly as compared to last year, but prices continued to increase.

Significantly for homeowners, the median sale price peaked in the summer and has come down this winter. Prices started being affected almost immediately as the Fed increased interest rates.

This video, by the Pinellas County Realtor Association, dives into some of the details for Pinellas and Pasco Counties.

Luxury Homes in Pinellas County

Luxury homes were affected, with many potential buyers being restricted in buying power by higher interest rates as well as being cautious as to what the next year will bring to the economy.

Homes sales in the $1,000,000 and above range dropped by 12% year to year in October, and they were on the market about 5% longer than last year.

Statistics for properties over $1M

66 closed sales

37 days to contract

158 new listings

472 listings available for purchase


Pinellas County Single Family Homes Sales Report

Oct 2023 click here

Sept 2023 click here


Median Home Prices went up during the year.

Starting at $440,000 in January prices peaked at $478,968 in August and came down in Oct to a median sale price of $465,000.


As of Oct Inventory is about the same as it was a year ago, with 2,150 units available for purchase.

This represents just under a three-month supply of inventory.


753 single family home sales closed in October 2023, compared to 887 in 2022.

Total number of sales was down by 15 % year to year.

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