Tuesday, January 4, 2011
Florida Condominium Sales Rise 11 percent in November
The statewide existing condo median sales price was $88,200; in November 2009, it was $104,500 for a 16 percent decrease year to year. However, November’s statewide existing condo median price was, month-to-month, 7 percent higher than the statewide existing condo median of $82,400 in October.
Meanwhile, in the year-to-year comparison for existing home sales, a total of 11,900 single-family existing homes sold statewide in November compared to 13,961 homes sold in November 2009 for a decrease of 15 percent.
Florida’s median existing-home sales price in November was $132,700; a year earlier, it was $139,300 for a decrease of 5 percent. The median is the midpoint; half the homes sold for more, half for less.
In a separate report, the U.S. Commerce Dept. announced that sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November. The gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in October.
The inventory of new homes for sale fell to 197,000 units in November, marking the first time in 42 years that this measure has fallen below the 200,000 level. This amounts to an 8.2-month supply at the current sales pace.
© 2011 Florida Realtors®