Daytona Beach FL Home Sales Jump in September

Florida's existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. September's statewide sales also increased over sales activity in August in both the existing home and existing condominium markets.

Existing home sales rose 34 percent last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008, according to Florida Realtors. Statewide existing home sales last month increased 4.1 percent over statewide sales activity in August.

Florida Realtors also reported a 77 percent increase in statewide sales of existing condos in September compared to the previous year's sales figure; statewide existing condo sales last month rose 8.9 percent over the total units sold in August.

The best news, of course, is our own backyard. Sales in the Daytona Beach MSA (metropolitan statistical area) rose significantly in September.

Single Family:
Sept. 2009 - 766 sales
Sept. 2008 - 536 sales
Median Sales Price
Sept. 2009 - $132,000
Sept. 2008 - $160,000

Condos:
Sept. 2009 - 140 sales
Sept. 2008 - 74 sales
Median Sales Price
Sept. 2009 - $176,000
Sept. 2008 - $237,500

While sellers may be groaning, this is great news for buyers - what bargains are available! It's just astounding you can buy oceanfront homes for such low prices.

NAR Chief Economist Lawrence Yun said, "Now that the market is showing some momentum, we have an opportunity to achieve a more rapid and broader stabilization in home prices...The outlook for home sales and prices depends on whether the tax credit is extended," he continued, describing it as "the best tool in our arsenal to encourage financially qualified buyers to stimulate the economy and help reduce the budget deficit."

Congress is working on extendng the tax credit. If you have an opinion, contact your senator or representative today. And - contact me to discuss our buying opportunities. If you can't move here, at least consider a 2nd home, or rental investment to hold and use later. Give me a call or email to discuss your options and which community will best suit your needs.