Pinellas home sales climb 35%

CLEARWATER — Single-family home sales in Pinellas County jumped 34.6% from November 2011 to November 2012, according to a report from the National Association of Realtors.

At the same time, the average sales price rose by more than 10%, according to the Realtors. A decrease in the number of single-family homes in the marketplace is driving the rise in prices. Active listings of single-family homes have decreased 30.75% over the year ending in November. A drop in the percentage of distressed listings also affects the rise in prices.

Meanwhile, condo sales rose 37.79% over the same period. Condos are more plentiful on the market than single-family homes, the Realtors said.
A 7.3-month supply of condo inventory is available, compared with a 3.2-month supply of single-family homes.