Latest sales figures posted by Florida Association of Realtors

For the 13th month in a row sales figures in Florida have increased when compared to the same period last year. Some localized markets have even seen increase for 15 months.

Existing home sales rose 34% last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008.

Even more promising was the number of condo sales in Florida during September, 2009.

Florida Realtors also reported a 77% increase in statewide sales of existing condos in September compared to the previous year’s sales figure.

Other reported figures show an increase of 4.1% in existing home sales and an 8.9% increase in existing condo sales. Due to the increase in the number of sold bank-owned and short sale properties, the median house price dropped from $174,900 to $142,000 over the past year, a drop of 19%. The median condo price for the same period dropped from $153,500 to $102,500, a drop of 33%. Buyers need to remember these prices are distorted by all the discounted properties in the count.

We are still in a fragile market. Continued increase in sales are dependent on several factors. Mortgage interest rates must be kept affordable. The biggest factor could be whether or not the Federal government extends the First Time Home Buyers Tax Credit. The handling of this single item could have a huge impact.

Realtors, parents, high school and college graduates getting ready for the work force, neighbors and friends of anyone possibly thinking of buying should be contacting their Federal Congressmen. It seems many people have voices to complain but we need voices for good right now also. Get those emails and phone calls going!

Mike Cathell, Florida Future Realty, Inc Email: MikeCathell@FloridaFutureAgents.com

Cell: (239) 770-6250