According to the latest housing statistics released by Florida Realtors®, Florida real estate sales figures for existing homes and condos were up in the 3rd Quarter of 2011 compared to the 3rd Quarter of 2010. Third quarter existing condo sales was 13% higher in 2011 with 20,383 units sold compared to 17,980 units sold in 2010. Existing home sales rose 12% with 46,759 homes sold in 3Q 2011 while 41,728 homes were sold during the same quarter last year.

The statewide median sales price for existing homes was stable with $136,000 in 3Q 2011 compared to $135,900 in 3Q 2010. On the other hand, median sales price for existing condos increased 7% in 3Q 2011 with $89,600 compared to $83,700 in 3Q 2010.

“The quarterly numbers confirm the general improvement in Florida’s housing market in both sales and prices that we’ve been seeing since January 2011,” said Florida Realtors Chief Economist Dr. John Tuccillo. “However, this positive trend isn’t receiving the attention it’s due because of the interaction of people’s expectations, perceptions and reality. When you come out of a recession, people expect the real estate market to take a huge jump forward, and when it doesn’t, they perceive that the market is ‘bad’ or still down. However, the reality is that the Florida market is improving and it has been for some time – it’s just improving more slowly than initial expectations.”

Source: media.floridarealtors.org

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