Pinellas sales rise modestly

Published by peter | Filed under Market Trends

In May of this year, 971 homes sold in Pinellas. In May 2008, sales were 941. That’s a modest rise of 3.2 percent.

The median sales price declined 20 percent in that May-to-May period, from $175,000 to $140,000. The statistics come from the Pinellas Realtor Organization: Download Pinellashomesales.

The Pinellas report follows last week’s Hillsborough County home sales report for May. Hillsborough showed wilder swings in sales and prices. While Hillsborough home sales were up 9.4 percent in May - nearly three times the rate of Pinellas - prices dropped much further at 32.5 percent.

Single family home listings continued to decline in Pinellas. They stood at 6,910 in May. The peak was 11,003 listings in February 2006. Condo listings have also shrunk, but not as dramatically.