The real estate market in Pinellas County is showing more signs of stabilization. For the month of February sales were up for both single family and condo, likely a result of the increases in pending sales in January. Listings were down across the board and the median sales price remains relatively unchanged. During the first half of 2010 the first time homebuyer tax credit was impacting closings while the later tax credit was beginning to affect pending contracts. Since there is no longer a tax credit, we might have expected sales and contracts to be lower; however sales were up nearly 25% and pending contracts increase by 17%. Pinellas County’s fire sale prices and low interest rates are the big driver now in spite of the continued high jobless rate.
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