Florida’s existing home, condo sales up in September 2009

ORLANDO, Fla. – Oct. 23, 2009 – Florida’s existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. September’s statewide sales also increased over sales activity in August in both the existing home and existing condominium markets.

Existing home sales rose 34 percent last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008, according to Florida Realtors. Statewide existing home sales last month increased 4.1 percent over statewide sales activity in August.

Florida Realtors also reported a 77 percent increase in statewide sales of existing condos in September compared to the previous year’s sales figure; statewide existing condo sales last month rose 8.9 percent over the total units sold in August.

All of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in September; all but one MSA also showed a gain in condo sales. A majority of the state’s MSAs have reported increased sales for 15 consecutive months.

Florida’s median sales price for existing homes last month was $142,000; a year ago, it was $174,900 for a 19 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in August 2009 was $177,500, down 12.1 percent from a year earlier, according to NAR. In Massachusetts, the statewide median resales price was $315,000 in August; in California, it was $292,960; in Maryland, it was $265,862; and in New York, it was $205,000.

NAR’s latest industry outlook notes positive signs in the housing sector, but adds that extension of the federal first-time homebuyer tax credit would help sustain a fragile recovery. “Now that the market is showing some momentum, we have an opportunity to achieve a more rapid and broader stabilization in home prices,” said NAR Chief Economist Lawrence Yun. The outlook for home sales and prices depends on whether the tax credit is extended, he said, describing it as “the best tool in our arsenal to encourage financially qualified buyers to stimulate the economy and help reduce the budget deficit.”

In Florida’s year-to-year comparison for condos, 5,088 units sold statewide last month compared to 2,870 units in September 2008 for a 77 percent increase. The statewide existing condo median sales price last month was $102,500; in September 2008 it was $153,500 for a 33 percent decrease. The national median existing condo price was $179,300 in August 2009, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 5.06 percent last month, a significant drop from the average rate of 6.04 percent in September 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s smaller markets, the Pensacola MSA reported a total of 275 homes sold in September compared to 267 homes a year earlier for a 3 percent increase. The market’s existing home median sales price last month was $135,000; a year ago it was $146,900 for an 8 percent decrease. A total of 48 condos sold in the MSA in September, up 41 percent over the 34 units sold in September 2008. The existing condo median price last month was $190,000; a year earlier, it was $180,000 for a 6 percent gain

Time to trot out the turkeys

As your November food magazines begin to arrive -- including the last issue of Gourment -- you'll notice a bevy of November's favorite pin-up models -- the roast turkey. As this article from the New York Times notes, gorgeous golden turkeys are the go-to cover art for most periodicals this time of year

Orlando Health

Orlando Health’s Family of Hospitals include Orlando Regional Medical Center, Arnold Palmer Hospital for Children, and the MD Anderson Cancer Center to name a few… These most recognizable names in family health are just another reason Central Floridians are glad to call Orlando Home…

What’s up at Real Living Orlando- Clermont…

Real Living has been working on a local Web Site Designed to Attract, Inform and Motivate buyers to use a Real Living Agent when purchasing their next home... This low key, high performance site will work its way through search engine pages as Luis continues to "Link Build” and develop content to promote our site as a resource for the Central Florida area... Luis Esqueda is not only the Site Manager but also the direct contact for all site members as they search our "RETS" advanced site... Luis tells me that less than a handful of local brokers have paid to upgrade their web sites to include a "RETS" IDX feed from the Florida Association of Realtors... The other interesting twist to Luis's role will be to assist local buyers on the internet with his expertise but when they are ready to visit property, Luis will match them up with a Real Living Market Expert. Market Experts will help in the development of the site by assisting Luis with "Site Content" which is so important to be a strong local contender for Google's Top Spots... I hope you will join me and Luis as we try to make FreeGuideOrlando.com a Top Real Estate Web Site in Orlando...

I went to Pleasure Island the other night, and ghosts followed me.

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(Since September 28, 2008, all the nightclubs on Pleasure Island—8 Trax, The Adventurer's Club, Mannequins Dance Palace, BET Sound-Stage Club, Motion and The Comedy Warehouse—were closed. You'll be able to enjoy a brand new mix of shopping and dining experiences at Pleasure Island as it is transformed through 2010. Raglan Road, Fuego by Sosa Cigars, Curl by Sammy Duval, Orlando Harley-

Florida Residents do Epcot after Dark…

Did you know that you can purchase an Annual Pass with no blackout dates to Take advantage of admission (during normal operating hours) to Epcot® any day after 4:00 P.M.… Enjoy the best of Epcot®: a fun night out dining in World Showcase, a fast lap at Test Track, the breathtaking "IllumiNations: Reflections of Earth" and more….