Florida Home and Condo Resales Jump in November
Florida's existing home sales rose in November, marking 15 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors.
Existing home sales rose 61 percent last month with a total of 14,026 homes sold statewide compared to 8,694 homes sold in November 2008, according to Florida Realtors. Statewide sales of existing condos increased 111 percent last month compared to November 2008's sales figure.
"The extended and expanded federal homebuyer tax credit will continue the positive momentum of the housing sector's recovery - people will want to take advantage of this incredible, not-to-be-missed opportunity to buy a home of their own in Florida," says 2009 Florida Realtors President Cynthia Shelton, CCIM, CRE, a broker and director of investment sales with Colliers Arnold in Orlando.
Florida's median sales price for existing homes last month was $139,000; a year ago, it was $158,200 for a 12 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.
In Florida's year-to-year comparison for condos, 4,889 units sold statewide last month compared to 2,320 units in November 2008 for an increase of 111 percent. The statewide existing condo median sales price last month was $104,400; in November 2008 it was $131,400 for a 21 percent decrease. The national median existing condo price was $172,900 in October 2009, according to NAR.
In the Daytona Beach metropolitan area, Realtors sold 773 homes in November, 2009 vs 420 last year. Median price was $130,500 vs. $146.200 last year. For condos, Realtors sold 137 units, compared to 66 last year, with a median price of $171,300 vs. $174,300 in 2008.
Whether you are an investor or owner-occupant, you just can't let these prices and government incentives pass you by. Contact me today for ideas on how you can take advantage of these opportunities.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com