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Pinellas County homes selling higher, quicker in April, Realtors say

in The Bay and the 'Burg/Top Headlines by

The trend of higher prices and quicker sales for Pinellas County homes continued in April, according to new statistics released by the Pinellas Realtor Organization.

Total sales were up about 5 percent last month compared to April 2015, mainly due to a spike in condo sales, and the median sale price of area homes is up by more than 11 percent year-over-year.

Homes are also selling quicker, the organization said, with the median time-to-sale falling by 12 percent to 73 days, the same as in March, compared to 83 days in April 2015. Median time to contract is also down, with April’s median time coming in at four weeks compared to 40 days a year ago.

The median sale price for single-family homes last month was $200,000, the same as in March and $25,000 more than the previous April while the median price for condos and townhouses came in at $138,000, a $6,000 gain over March and an $11,500 gain year-over-year.

Sellers also got closer the list price than they did last year, with the median single-family home sale going for 96 percent of list, compared to 95 percent last year. The median condo sale went for 95 percent of the original list, which is also a gain of 1 percent over April 2015.

Inventory levels were still far below 2015 numbers last month, but didn’t dip much below March numbers. PRO said there was a 3.4-month supply of single family homes in the area, and a 4.3-month supply of condos and townhomes.

New listings for single family homes went up 4 percent last month compared to last year, as did condo listings. Overall, there were 1,512 single family home listings and 952 condo or townhouse listings added in April.

Drew Wilson covers legislative campaigns and fundraising for SaintPetersBlog and While at the University of Florida, Wilson was an editor at The Independent Florida Alligator and after graduation, he moved to Los Angeles to cover business deals for The Hollywood Reporter. Before joining Extensive Enterprises, Wilson covered the state economy and Legislature for LobbyTools.

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