The Orlando market experienced another good month in existing home sales, but continued declines in home values, the Florida Association of Realtors reported.
Association members reported 1,127 home resales in January in the Orlando area, a nearly 28 percent increase from the 881 sales reported the same month a year prior. But the median home value fell nearly 32 percent, from $220,200 in January 2008 to $150,500 last month.
The Daytona Beach market saw an even bigger percentage spike — 30.5 percent — in January home resales, from 321 last year to 419 last month. The median home price fell 26 percent, from $179,100 in January last year to $131,800 in January 2009.
Condo resales in the Orlando area were up 88 percent, from 91 in January 2008 to 171 last month. The median price, however, fell 60 percent, from $157,000 in January 2008 to $62,200 last month.
Existing condo sales in the Daytona Beach market were 77 last month, a 42.5 percent jump from January 2008’s 54 closings. The median price slid to $167,800, a 27 percent decline from the $230,000 reported in January 2008.
Statewide, existing home sales rose for the fifth month in a row in January year-to-year comparisons, the association reported. The state saw a 24 percent jump in sales last month 8,450 homes sold, compared to 6,810 homes sold in January 2008.
Florida’s median existing home sales price last month was $139,500, a 33 percent decline from the $206,900 reported in January 2008.
Florida’s existing condo sales were up nearly 13 percent, from 2,266 sold in January 2008 to 2,556 units sold last month. The median sales price last month was $113,400, a 40 percent drop from January 2008’s $190,200.
Source: 540wfla.com
