According to statistics from the Florida Realtors, sales for existing homes in Miami and West Palm Beach rose during the second quarter, but remained somewhat stable in Fort Lauderdale.
There were 2,007 homes sold in Miami, up 10 percent from a year-ago, when 1,832 homes were sold. The median price of homes in Miami rose 1 percent, to $197,200 from $195,000 a year earlier.
West Palm Beach home sales rose 27 percent in the second quarter of 2010, from 2,277 to 2,892. The median price however dropped 2 percent, from $240,400 to $235,500.
Home sales in Fort Lauderdale remained somewhat stable in the second quarter of the year with 2,341 homes sold, just nine more than last year. The median sales price rose from $195,500 to $209,800, a 7 percent increase.
In the second quarter, sales of existing homes rose statewide by 21 percent, from 42,604 a year earlier to 51,564. The statewide median price for existing homes was down 1 percent from $143,000 to price was $141, 300.
In the same period all three counties saw improvement in condo sales. In Miami 2,550 condos sold, a 45 percent increase from the 1,758 Miami condos that sold a year earlier. Condo sales in West Palm Beach rose 37 percent, from 2,157 to 2,962. In Fort Lauderdale 3,045 condos were sold, up 19 percent from 2,559 last year.
In the second quarter, median prices in all three counties fell. The median sales price of a condo in West Palm Beach fell 8 percent, from $107,300 to $98,600. The median price for Miami condos fell 8 percent, to $128,100 from $138,700. Fort Lauderdale was down 2 percent, from $81,600 to $79,800.
Statewide, existing condominium sales in the second quarter rose 45 percent to 20,986 from the 14,430 sold a year earlier. Statewide, this marks the seventh consecutive quarter sales have increased in both the existing home and condo markets compared to year-ago.
Statewide the median sales price of existing condos in the second quarter fell 10 percent, from $110,300 to $98,900.
Contributed by MLR Realty
