Florida’s sales continue upward trend-USA INVESTMENTS

Florida’s existing home sales rose in June — the 10th consecutive month that sales activity showed gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of REALTORS®. Statewide sales in June also increased over the previous month’s sales level in both the existing home and existing condominium markets. And, for the second month in a row, the statewide median sales price for existing homes was higher than the previous month’s statewide median.

Existing home sales rose 28 percent last month with a total of 15,850 homes sold statewide compared to 12,339 homes sold in June 2008, according to FAR. Statewide existing home sales in June increased 13.8 percent over May’s statewide activity.

Florida REALTORS® also reported a 39 percent rise in statewide sales of existing condos in June; existing condo sales last month rose 8.3 percent over the total units sold in May.

Sixteen of Florida’s metropolitan statistical areas (MSAs) reported increased existing-home sales in June and 14 MSAs also showed gains in condo sales. A majority of the state’s MSAs have reported increased sales for the past year (12 consecutive months).

Florida’s median sales price for existing homes last month was $148,000; a year ago, it was $205,300 for a 28 percent decrease. However, the statewide existing home median price in June increased 2.49 percent over May’s median price; it also was higher than the statewide median price reported each month since the start of 2009.

In Florida’s year-to-year comparison for condos, 5,241 units sold statewide compared to 3,771 units in June 2008 for a 39 percent increase. The statewide existing condo median sales price last month was $112,900; in June 2008 it was $180,400 for a 37 percent decrease.

Among the state’s smaller markets, the Punta Gorda MSA reported a total of 216 homes sold in June compared to 196 homes a year ago for a 10 percent increase. The existing home median sales price was $145,600; a year ago, it was $141,000 for a 3 percent increase. The market’s existing condo median price last month was $140,000; a year earlier, it was $160,000 for a 13 percent decrease.

~ by nliteam on August 3, 2009.