October florida home sales up 13 per cent over 2010

Florida existing home sales in October shot up 13 percent from a year ago as the median price fell, according to figures released Monday by Florida Realtors.

Buoyed by lower interest rates and improved consumer confidence, sales increased in 17 of 19 metropolitan areas across the state, the association's chief economist reported Friday. Median prices were off about 4 percent statewide, falling to $131,200 from $136,600 a year ago.

Florida condominium sales were also strong for the month, with sales increasing 12 percent and median price climbing 7 percent from October 2010 figures.

"These numbers, combined with reports from Realtors throughout the state, indicate that we're seeing strong interest in purchasing Florida real estate from smart investors who are taking advantage of the current favorable market conditions," said John Tuccillo, Florida Realtors lead economist. "These folks tend to have a long-term outlook and plan to hold onto their property purchases for a while." 

Source: WCTV.tv