Good News for the Volusia County Real Estate Market
News-Journal Online reports that "Sales of single-family houses jumped 19 percent across the two-county region (including Flagler County) to 577 in March from 486 in March 2008. Sales of condominiums leapt 46 percent to 104 from 71, according to a report released Thursday by the Florida Association of Realtors.
"Sales of houses and condos have increased during each of the past four months in the region and for six of the last nine months. Declining median house prices -- where half sell for more and half sell for less -- are driving higher sales...
"The median price for a single-family house that exchanged hands in Volusia and Flagler counties in March was $130,900, down 24 percent from $172,800 in March 2008. The median condo price slipped 6 percent, to $177,800 from $190,000.
"Large numbers of foreclosures and distressed properties have sold at discount prices and are pushing overall prices down to a point not seen in the area since mid-2003."
Joe LaBosco, of LaBosco Jewelry and Pawn, was quoted as being bearish now about our Volusia County real estate market, "I was sitting on the sidelines until about six, seven months ago, but I'm buying again, thinking we are at the bottom of the market and it's a good time to buy if you have the money and credit scores."
With the $8,000 first time buyer tax credit available, and low interest rates, why wait to own your own real estate in Ormond or Daytona Beach? Contact me to discuss your buying opportunities.
Sherry Armstrong, Realtor
386-679-3191
sherry@sherryarmstrong.com