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Florida property sales improve in Q2 2011
Date:-23-Aug-2011
Florida property sales improve in Q2 2011
There was a rise in the number of existing condos and homes in Florida sold during the second quarter (Q2) of 2011 compared to the corresponding period last year, according to the latest data provided by Florida Realtors.
The figures show that existing Florida property sales increased by 1% in Q2 2011 with a total of 52,421 homes sold statewide, up from 51,973 during the same period in 2010. Meanwhile, there was a 14% jump in sales of existing condos in Florida in Q2 during the same period.
Residential property and condo sales in Q2 were also up on the previous quarter, rising by 17.7% and 8.1%, respectively.
The average price of a property in Florida sold in Q2 was $134,600 (€93,740/£81,770), down from $141,500 (€98,550/£86,000) in Q2 2010. However, the figure was 8.9% higher than the level recorded in 1Q 2011, suggesting that Florida property market conditions are improving.
Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness, commented: “Florida Realtors second quarter housing data shows that momentum in sales of both single family homes and condominiums continues to build, while median sales prices have also increased from first quarter to the second.”
