Florida’s existing home, condo sales rise in the third quarter of 2011

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Florida’s Existing-Home Sales Slows Down Disruptions in the mortgage market and tightening credit continued to impact Florida’s housing sector in the fourth quarter. statewide, sales of existing single-family homes totaled 9,165 last month, while 12,846 homes sold in October 2006 for a decrease of 29 percent in the year-to-year comparison.

Price action hit a wall in the South Florida residential market. Today we will look at the median sale prices of single-family homes and condos in Miami, Fort Lauderdale, Boca Raton and surrounding areas. Existing home sales on a national level look like they are exhausted as well. South Florida was ground zero during the last housing crash.

Fifteen of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in the first quarter compared to the same three-month-period a year earlier, while 12 MSAs showed gains in condo sales. The statewide existing-home median sales price was $141,000 in the first quarter; a year earlier, it was $202,300 for a decrease of 30 percent.

Based on data from StreetEasy, sellers who bought homes in 2011 listed them for a median 42 percent markup, and those who bought in 2012 listed for a 35 percent increase. The aggressive pricing and.

 · Manhattan apartment prices reach an all-time high-again. Both the median and average sales prices hit records in the second quarter of the year. and found that 47.2 percent of condo sales.

Even so, most developers are steering clear of condos. Prices on existing units. The metro’s third-quarter vacancy rate was 2.2 percent, the third tightest vacancy rate of the 82 primary metros.

Sales of existing condominiums statewide in the second quarter rose 29 percent compared to the same time the previous year. This marks the third consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.

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