REAL ESTATE NEWS - FLORIDA 4th QUARTER SALES UP 62%, VALUES DOWN 19%

Existing single-family home sales increased by 62 percent in the fourth quarter of 2009, though values fell 19 percent, the Florida Realtors reported.

The median price of an existing home dropped from $171,700 in fourth-quarter 2008 to $139,000 in fourth-quarter 2009. A total of 6,889 homes sold in the fourth quarter of last year, up from the 4,247 in the same period in 2008. Existing condominium sales nearly quadrupled year-over-year, from 446 unit sales in the fourth quarter of 2008 to 1,765 in the same period last year. The median price of an existing condo in the fourth quarter of 2009 was $54,000, a 37 percent decline from $85,800 in the same period a year prior.

Statewide, single-family home sales were up year-over-year for the sixth consecutive period, the association reported. Existing single-family home sales in Florida rose 43.5 percent in the fourth quarter, from 30,610 in 2008 to 43,926 last year. The median resale price for a single-family home in the fourth quarter of last year was $140,000, 13 percent less than $160,600 recorded in the fourth quarter of 2008.

Condo sales in the Sunshine State stood at 16,255 units in fourth quarter, nearly double the 8,410 sold during the same period a year earlier. The statewide existing condo median sales price fell nearly 23 percent in the fourth quarter — from $136,600 in 2008 to $105,500 last year.

Posted by Team Donovan on
Email Send a link to post via Email