Florida Home Sales Increase for 10th Straight Month; June Median Home Price Highest in 2009
ORLANDO, Fla. – July 23, 2009 – 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 (FAR). 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% 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% over May’s statewide activity.
Florida’s median sales price for existing homes last month was $148,000; a year ago, it was $205,300 for a 28% decrease. However, the statewide existing home median price in June increased 2.49% over May’s median price; it also was higher than the statewide median price reported each month since the start of 2009.
MP: Sure looks like there's a solid recovery going on in Florida's real estate market.
2 Comments:
We've seen lots of wild haircuts in the world of real estate, but nothing like this.
Condovultures: A South Florida private equity group purchased 51 new, oceanfront condo-hotel units in the luxury One Bal Harbour complex at $63 per square foot, a discount of 94 percent off of the $1,100 per square foot average recorded sales price, according to a new report from Condo Vultures® LLC.
Elcom Condominium LLC with Jorge E. Arevalo and Thomas D. Sullivan in South Miami paid $2.6 million for 41,047 square feet of saleable space in the 124-unit Regent Hotel tower located on the west side of the 26-story, trophy complex in exclusive Bal Harbour.
http://www.businessinsider.com/
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