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

NEW YORK (CNNMoney) — Home prices hit another new low in the first quarter, down 5.1% from a year ago to levels not reached since 2002. It was the third straight quarterly drop for the S&P/Case.

Home and condo prices in Sarasota-Manatee outpace state in second quarter. Home sales improved but condominium sales sank during the second quarter in Southwest Florida, according to a new report.

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Condominium and single-home sales were up in South Florida’s major urban centers in the third quarter, with Miami seeing a nearly 50 percent increase.

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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.

All of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in the third quarter compared to the same three-month-period a year earlier, while 17 MSAs showed gains in condo sales. The statewide existing-home median sales price was $145,400 in the third quarter; a year earlier, it was $185,600 for a decrease of 22 percent.

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December’s statewide sales also increased over November’s figures in both the existing home and existing condo markets. Existing home sales rose 27 percent last month with a total of 11,053 homes sold statewide compared to 8,712 homes sold in December 2007, according to FAR.

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Weak homebuyer demand is evident in existing home sales, unchanged in the second quarter of 2011. costs of owning a home rose for the third straight quarter,

The latest housing statistics from Florida Realtors shows a 7 percent home sales increase in the 2011 fourth quarter. In addition, the Florida sales of existing condos rose 4 percent, with median market prices staying quite stable. The quarterly increases are a testament to the continuous steady improvement of the Florida housing market.

Florida’s Existing Home, Condo Sales Up in December. by admin January 22, 2011. Sales of existing homes and condominiums in Florida rose in December, a positive trend also reported at the close of 2010 as statewide sales activity posted gains over the previous year, according to the latest housing data released by Florida Realtors.