Florida Home Sales Enjoy Big Rise in 2nd Quarter 2010
According to the latest housing statistics from Florida Realtors, sales of existing single-family homes in Florida rose 21% in second quarter 2010 compared to the same period a year earlier.
A total of 51,564 existing homes sold statewide in 2Q 2010; during the same period the year before, a total of 42,604 existing homes sold. It marks the eighth consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.
Statewide sales of existing condominiums in the second quarter rose 45 percent compared to the same time the previous year. This marks the seventh consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.
Statewide sales activity in 2Q 2010 also increased over 1Q 2010's sales figure in both the existing home and existing condo markets, Florida Realtors' records show. For 2Q 2010, statewide sales of existing homes rose 32.7 percent over the 1Q 2010 figure; statewide existing condo sales in 2Q 2010 increased 24.2% over the 1Q 2010 level.
Seventeen of Florida's metropolitan statistical areas (MSAs) reported increased sales of existing homes in 2Q 2010 compared to the same three-month period a year earlier; 18 of the MSAs showed gains in condo sales.
The statewide existing-home median sales price was $141,300 in 2Q 2010; a year earlier, it was $143,000 for a decrease of 1%. The 2Q 2010 statewide existing-home median sales price was 5.6% higher than the statewide existing-home median sales price of $133,800 in 1Q 2010. According to industry analysts with the National Association of Realtors (NAR), 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 a typical market price where half the homes sold for more, half for less.
In the year-to-year quarterly comparison for condo sales, 20,986 units sold statewide for the quarter compared to 14,430 in 2Q 2009 for a 45 percent increase. The statewide existing-condo median sales price was $98,900 for the three-month period; in 2Q 2009, it was $110,300 for a decrease of 10 percent. The 2Q 2010 statewide existing-condo median sales price was 3.2 percent higher than the 1Q 2010 statewide existing-condo median sales price of $95,800.
Daytona Beach single family sales in the 2nd quarter were 2,607 vs 2nd quarter of 2009, 1,924, an increase of 35%. Median price for 2nd quarter this year was $122,500, and for 2009, $132,500.
Daytona Beach condo sales in the 2nd quarter were 536, compared to 373 last year. Median sales price was $126,700, vs $176,500 in 2009.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com