News / Business
Existing-Homes Sales up 38.2 percent in Florida over 1Q 2008
Prices appear to be reaching equilibrium in many Florida areas
Sunny Isles Beach Broker News
Sales of both existing single-family homes and existing condominiums improved in second quarter 2008 from the first quarter of the year, according to the latest housing statistics from the Florida Association of Realtors® (FAR). A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008 when 25,443 homes sold. The statewide existing home median price in 2Q 2008 was $203,000, slightly higher than the $202,300 median price reported in 1Q 2008.
In the state’s existing condo market, a total of 11,343 units sold in 2Q 2008, a 32.2 percent increase over 1Q 2008 when 8,581 units changed hands. The statewide existing condo median price in 2Q 2008 was $181,100, an increase of 1.5 percent from 1Q 2008.
“Across the state, we’re seeing positive signs for Florida’s housing market,” says 2008 FAR President Chuck Bonfiglio. “Realtors are reporting heightened interest from buyers, more business activity and an increase in pending sales. Prices also appear to be reaching equilibrium in many areas, another encouraging sign that could boost the market’s momentum.”
