The median price for a single family home in Pinellas was up 18.9 percent in June when compared to the same month last year.
Figures released by the Pinellas Realtor Organization show the median price for a single family home in June was $220,000. That’s up from $185,000 in June, 2015.
The amount is a new high when compared to figures from the past 12 months. Median prices during the June 2015 through May 2016 period ranged from a low of $180,000 in October 2015 to $200,000 in March, April and May.
Sales were also a bit faster in June than a year ago. The median time for a home to be sold in June 2015 was 76 days; this past June, the median time from listing to closing was 72 days.
Sales were a bit more brisk for higher priced homes than they were in June 2015. Sales of homes worth less than $50,000 decreased by about 51.9 percent. Those worth $50,000 to $99,999 and $100,000 to $149,999 decreased by 45.6 percent and 22.3 percent respectively.
The biggest gains in sales came for homes worth $300,000 to $399,999 and $600,000 to $999,999, which saw a 43.4 percent and 48.1 percent increase in sales, respectively.
Sales of condominiums and townhomes also saw an increase in median prices.
The median cost of a condominium/townhome was $140,000 in June 2016, or 16.7 percent more than the June 2015 median price of $120,000.
That June figure was also a 12-month high for median prices. In the preceding 11 months, the median price for condos/townhomes ranged from a $120,000 to $138,250.