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“The surge in home sales was driven by buyers responding strongly to the tax credit combined with record-low mortgage interest rates,” NAR Chief Economist Lawrence Yun said in a news release. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring, with more areas showing higher prices.”
According to Florida real estate experts, compared to the same forth quarter period last year, sales of single family homes and condos in Palm Beach, Broward, and Miami-Dade counties are up. However, simultaneously, prices in all three counties are sliding.
West Palm Beach logged the biggest jolt in sales of single-family homes – up 42% ( 1,706 in the year-ago quarter to 2,423)
The median sales price there slipped 5%, from $252,200 to $239,500 a year ago.
Furthermore, West Palm Beach condo sales shot up 62%, from 1,366 to 2,219. The median price was down 12 percent, from $123,000 to $108,100.
Continuing this trend, sales of single-family homes in Miami were up 32% from 1,250, to 1,649 with the median sales price down 17 percent, from $227,600 to $188,700.
While, Miami condo sales rose 68%, from 1,203 to 2,022. The median sales price for an existing condo fell 21%, from $183,700 to $145,400.
And in Fort Lauderdale, sales of existing homes were up 31%, from 1,764 to 2,314. The median price was down 13%, from $234,100 to $203,800.
Statewide, sales of existing single-family homes rose 44% in the fourth quarter – from 30,610 to 43,926. That’s the sixth consecutive quarter that Florida has seen higher year-over-year existing home sales.
The median sales price for an existing home in Florida was $140,000 in the fourth quarter, down 13% from last year, when it was $160,600.
Statewide, sales of existing condominiums in the fourth quarter rose 93% from 8,410 to 16,255 during the previous year’s quarter. That was the fifth consecutive quarter for increased statewide sales in both the single-family home and condo markets compared to levels one year ago.
The median sales price was $105,500 for the three-month period, down 23% from 2008, when it was $136,600
According to the National Association of Realtors, nationwide, total sales of existing homes, which include single-family and condos rose 13.9% to a seasonally adjusted annual rate of 6.03 million in the fourth quarter from 5.29 million in the third quarter,.
Distressed property accounted for 32% of fourth quarter transactions, down from 37% a year ago.
“The surge in home sales was driven by buyers responding strongly to the tax credit combined with record-low mortgage interest rates,” NAR Chief Economist Lawrence Yun said in a news release. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring, with more areas showing higher prices.”
According to Florida real estate experts, compared to the same forth quarter period last year, sales of single family homes and condos in Palm Beach, Broward, and Miami-Dade counties are up. However, simultaneously, prices in all three counties are sliding.
West Palm Beach logged the biggest jolt in sales of single-family homes – up 42% ( 1,706 in the year-ago quarter to 2,423)
The median sales price there slipped 5%, from $252,200 to $239,500 a year ago.
Furthermore, West Palm Beach condo sales shot up 62%, from 1,366 to 2,219. The median price was down 12 percent, from $123,000 to $108,100.
Continuing this trend, sales of single-family homes in Miami were up 32% from 1,250, to 1,649 with the median sales price down 17 percent, from $227,600 to $188,700.
While, Miami condo sales rose 68%, from 1,203 to 2,022. The median sales price for an existing condo fell 21%, from $183,700 to $145,400.
And in Fort Lauderdale, sales of existing homes were up 31%, from 1,764 to 2,314. The median price was down 13%, from $234,100 to $203,800.
Statewide, sales of existing single-family homes rose 44% in the fourth quarter – from 30,610 to 43,926. That’s the sixth consecutive quarter that Florida has seen higher year-over-year existing home sales.
The median sales price for an existing home in Florida was $140,000 in the fourth quarter, down 13% from last year, when it was $160,600.
Statewide, sales of existing condominiums in the fourth quarter rose 93% from 8,410 to 16,255 during the previous year’s quarter. That was the fifth consecutive quarter for increased statewide sales in both the single-family home and condo markets compared to levels one year ago.
The median sales price was $105,500 for the three-month period, down 23% from 2008, when it was $136,600
According to the National Association of Realtors, nationwide, total sales of existing homes, which include single-family and condos rose 13.9% to a seasonally adjusted annual rate of 6.03 million in the fourth quarter from 5.29 million in the third quarter,.
Distressed property accounted for 32% of fourth quarter transactions, down from 37% a year ago.
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