The Southwest Florida residential real estate market closed out 2012 with big gains in home prices and closed sales over the previous year, according to figures released Tuesday by local and state Realtor associations.

The Punta Gorda-Port Charlotte-North Port Association of Realtors reported a 24.7 percent year-over-year increase in median home sale prices last month. The median sales price for a single-family home in the Charlotte County-North Port area was $118,500 in December 2012, compared with $95,000 in December 2011.