Florida Residential Market Shows Signs Of Improvement

Florida's battered residential market began to show early signs of positive momentum in October, according to housing data issued by Florida Realtors, although it is still some distance from its halcyon market levels.

Last month, 143,398 single-family existing homes were sold in Florida, a 7% increase over the same period in 2009. In a year-to-year comparison for existing-home sales, a total of 11,888 single-family existing homes were sold statewide last month, down 21% from the 14,980 homes sold in October 2009. Florida's median existing-home sales price in October was $136,600, down 3% from the $140,900 level a year earlier. The median was split at midpoint, with half of the homes selling for more and half for less.

Furthermore, nine of Florida's metropolitan statistical areas reported higher existing-condo sales last month, and statewide year-to-date condominium sales recorded a 33% rise in comparison to a year ago, with a total of 59,966 units sold. However, a total of 5,147 existing condos were sold statewide in October – a 5% decrease from the 5,398 units sold in October 2009.

SOURCE: Florida Realtors


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