Falling Inventory Spurs Sales Price on Gulf Coast

From St. Petersburg, Florida MHPronNews.com has learned from the Beach Beacon sales in the overall residential property sector in Pinellas County only increased two percent Feb. 2011 to Feb. 2012, but the median sales price for the same period rose nearly 18 percent. Similarly, for single-family homes, the same period saw sales increase 1.5 percent but the median sales price increased nearly 20 percent. The Pinellas County Realtor Organization (PCRO) notes overall housing listings are down 34 percent Feb. 2011 to Feb. 2012, while in the single-family category inventory in the same period has fallen nearly 40 percent. Board Chairman Leon Sarkisian says many homeowners are concerned about selling their current home for fear they will have trouble finding financing for a new home.

(Photo credit: Realtor.com)

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