Florida’s Home, Condo Sales Skyrocket in January

On a year-over-year basis, both existing-home and condo sales in the Sunshine State notably increased in January, according to the latest housing data released by ""Florida Realtors."":http://www.floridarealtors.org/

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Marking 17 months of increased sales activity in the year-to-year comparison, 10,465 existing homes were sold in January, up 24 percent from January 2009. Existing-condo sales made an even more notable increase. Statewide, 4,631 units were sold in January, soaring 81 percent from the previous year's sales figure.

Growth in existing-home sales in January was reported in 16 of Florida's metropolitan statistical areas (MSAs), and all of the state's MSAs had higher condo sales. According to Florida Realtors data, a majority of the state's MSAs have reported an increase in sales for 19 consecutive months.

In addition, existing-home and condo prices in Florida continue to remain lower than the national average. In January, the statewide median sales price for existing homes was $130,900, down 6 percent from the same month in 2009, and Florida's median price for existing condos was $97,300, plummeting 14 percent from the previous year.

In December 2009, the national median existing home price was $177,500, and the national median existing condo price was $183,700--both notably higher than Florida's median prices in January.

""Now is the time for anyone thinking of buying a home in Florida to make that decision,"" said Wendell Davis, 2010 Florida Realtors president. ""Markets across the state are seeing increased sales, yet conditions remain very favorable with still-low mortgage rates, a range of housing inventory and attractive prices.""