Florida Home Sales Up Again

24 06 2009

Sales of existing homes and condos in Florida were up again in May for the ninth consecutive month.

Even better news: The statewide median sales price in May for existing homes and condos rose over the previous month, according to the Florida Association of Realtors.

In Jacksonville, existing home sales were up 7 percent, while the median price fell 14 percent to $164,200. Condo sales were up 36 percent, while the median price fell 7 percent to 138,600.

Statewide, existing home sales rose 16 percent in May with a total of 13,921 homes sold, up from 12,044 homes in the same period a year ago.

May existing home sales were up 6.2 percent over April’s statewide activity, according to FAR.

Statewide, prices for existing single-family homes rose in May to $144,400 from $138,500 in April.

Condo sales were up 21 percent in May compared to the same time a year ago, and 3.8 percent compared to April.

Statewide prices for existing condos were $113,400 in May, up from $106,600 in April.

“The improving sales of existing single-family homes and condos is a trend we have been seeing for several months in Florida – what is new in this month’s data release is that we are seeing evidence of prices beginning to firm,” Sean Snaith, director for the University of Central Florida’s Institute for Economic Competitiveness, said in a news release.

The median sales price for existing homes last month was $144,400, down 29 percent from a year ago when it was $203,800.

However, the statewide median price for existing homes in May was higher than the median price reported in each of the previous four months.

Year-over-year condo sales were up 21 percent to 4,839 units in May, compared to 3,998 units in May 2008.

The statewide existing condo median sales price last month was $113,400, down 38 percent from a year ago when it was $181,700.

Source: FAR

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