Florida’s Existing Home, Condo Sales Up In Q1

Posted by Orb Staff on May 12, 2010 No Comments
Categories : Residential Mortgage

Sales of existing single-family homes in Florida rose 24% in the first quarter of 2010 compared to the same period last year, according to the latest housing statistics from Florida Realtors, marking the seventh consecutive quarter that Florida has seen higher existing year-to-year home sales.

A total of 38,846 existing homes sold statewide in the first quarter of this year; during the same period in 2009, a total of 31,410 existing homes sold.

Statewide sales of existing condominiums in the first quarter rose 67% compared to the same time last year. This marks the sixth consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.

‘The first-quarter data release from the Florida Realtors paints a picture of a housing market continuing down the long road to recovery,’ says Sean Snaith, director for the University of Central Florida's Institute for Economic Competitiveness. ‘Transactions in the single-family market have extended quarterly year-over-year gains for nearly two years, and condo sales have also risen sharply. Median prices in most areas of the state continue to fall; however, the rate at which they are falling has diminished significantly, and this is indicative of a bottom approaching."

The statewide existing-home median sales price was $133,800 in the first quarter of 2010; a year earlier, it was $140,900, for a decrease of 5%. The statewide existing-condo median sales price was $95,800 for the first three months this year; last year, the first-quarter median price was $110,000.

SOURCE: Florida Realtors

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