Real Green Trends

Florida Homes Sales spike in November 2009 – Good News!

Good News for the South Florida Real Estate Market

Florida’s existing home sales rose in November, marking 15 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

According to the report from Florida Realtors, existing home sales rose 61 percent lIn Florida’s year-to-year comparison for condos, 4,889 units sold statewide last month compared to 2,320 units in November 2008 for an increase of 111 percent. The statewide existing condo median sales price last month was $104,400; in November 2008 it was $131,400 for a 21 percent decrease. The national median existing condo price was $172,900 in October 2009, according to NAR.Interest rates for a 30-year fixed-rate mortgage averaged 4.88 percent last month, a significant drop from the average rate of 6.09 percent in November 2008, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are writtenast month with a total of 14,026 homes sold statewide compared to 8,694 homes sold in November 2008, according to Florida Realtors. Statewide sales of existing condos increased 111 percent last month compared to November 2008′s sales figure.

For the second month in a row, all of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales and higher condo sales in November. A majority of the state’s MSAs have reported increased sales for 17 consecutive months.

With a continued trend of increased number of sales, inventory will shrink and we will see light at the end of the Real Estate Tunnel.

What is happening in the Aventura Market in Particular? Are you interested  Sunny Isles condos, or Miami, or Brickell condos for sale? Or in Miami Beach and Bal Harbour real estate sales report? You are just one click away. Simply subscribe to the market trends report and receive them free  in your inbox.

This entry was posted on Wednesday, December 23rd, 2009 at 5:23 am and is filed under Market Reports. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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