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Home sales surge, but prices don't budge much

Florida's existing-home sales rose year-over-year for a 10th consecutive month in June, mirroring sales in the Orlando area, though the statewide median price — like Orlando's — remained sharply lower than it was just a year ago.

Resales of single-family homes were up 28 percent in June, to 15,850 statewide, according to the Florida Association of Realtors. Resales of condominium units were up 39 percent to 5,241.

The median sales price for single-family properties last month was $148,000, down 28 percent from a year earlier. But for a second month in a row, the median was higher than the previous month's, up 2.5 percent from May. The median price paid for condos was down 37 percent from a year ago, to $112,900, which was also down slightly from May.

Sales of foreclosures and other distressed properties continued their downward pressure on the median price — the dollar amount at which half the homes sold for more and half for less.

The four-county Orlando metropolitan area remained among the state's busiest resale markets, second only to Tampa-St. Petersburg in single-family homes, with 2,266, and fifth among all metro areas in condo deals, with 528. Metro Orlando's median price for single-family properties was $149,000, down 32 percent from June 2008; for condos, it was down 59 percent to $54,500.
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Source: Orlando Sentinel


Posted by Orlando Realty Experts on July 24th, 2009 8:35 PMPost a Comment (0)

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