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Pinellas County home sales rise, prices still fall in February

Existing home sales in Pinellas County keep rising, but the median price isn't following.

Closings for single-family homes rose 20 percent in February compared with February 2010, according to figures released Monday by Pinellas Realtors.

The median sales price on the 629 sales averaged $100,000. The price is down from $130,000, a 23 percent decrease from February 2010. Despite the falling prices, the group believes the real estate market in Pinellas County is showing signs of stabilization.

The group credits "fire-sale prices and low interest rates" for increased sales.

When combining condo sales with single-family home sales, closings jumped 25 percent last month compared with February 2010. The figure also represents a 13 percent increase from January.

The February median sales price of all residential sales — condos and single-family homes — decreased from $125,000 to $89,000 for the same period last year.

Pinellas County home sales rise, prices still fall in February 03/14/11 [Last modified: Monday, March 14, 2011 7:00pm]
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