Home sales in Florida surged ahead in March, jumping by 36% over February, Across the state 28,220 housing units were sold in March compared to 20,680 in February and 24370 in March, 2010.
Sales of Florida homes and condominiums were even up by 16.8% over March of 2010 when the home buyer tax credit program was in effect. According to the Florida Association of Realtors (FAR) and the National Association of Realtors (NAR) the Florida home sales statistics surpassed the national increase which was only 3.7% above February levels.
March was the fourth month in a row where home sales exceeded the same month of the previous year. The median sale price of a single family home in Florida was $126,300, still below the previous year's median due,in large part to the number of foreclosure and short sale transactions.
In the Sarasota real estate market, for example, single family home sales, at 580, were up 23% from the previous month, and 5% higher than March, 2010 when the tax credit spurred sales to 555. "Condo sales also climbed to 220 in March 2011, up 10% from February, and 11% higher than last year at this time," says Jan Dugan, a Siesta Key real estate agent.
With March being the start of the 2011 spring home buying season, Florida realtors including those in the Sarasota and Bradenton real estate market have reason for hoping that 2011 will be a much better year than they've seen in the past several years.
"What Realtors need more than anything else at this point," says Brian Ward, a Sarasota Florida real estate agent with Keller Williams Realty, is for lenders to loosen up their lending standards just a bit giving more families a chance to buy a home during 2011 at prices not seen in years."
Tuesday, April 26, 2011
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