St. Pete, Clearwater Post Higher Yearly Home Sales

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The number of home sold in the St. Pete, Clearwater housing markets increased in January compared to the previous year, according to the Pinellas Realtor Association. 

A total of 1,116 homes -- single-family, townhouses and condos -- were sold in January, increasing 3.4 percent from a year ago. However, home sales fell from the 1,398 homes sold in December and are at the lowest they have been in a year, according to the data. 

Home sales were led by single-family, which increased 5.9 percent from a year ago. On the other hand, sales for townhouses and condos fell 0.5 percent year-over-year in January. 

In January, the median sales price increased 18.6 percent to $145,000 from $122,250 the year prior. The median sales price for townhouses and condo increased 7.9 percent to $95,500 from $88,500 recorded in January 2013. 

Earlier this month, the Florida Realtors reported the statewide median home price for 2013 was $168,000, increasing 15.9 percent from 2012. 

Today's report shows the number of cash deals in Pinellas County dropped 2.1 percent in January, compared to a year ago. 

The report states closed sales and cash deals are typically lower for the month of January than most other months. Going forward, sales should pickup, as pending sales increased 12.8 percent to 1,397 in January, compared to 1,230 in January 2013.