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Tampa Bay-Lakeland
Business Observer Wednesday, Aug. 11, 2010 8 years ago

Housing sales soar, prices slip

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Quarterly sales volumes and median prices were released by Florida Realtors.

Across the state of Florida, the sales of existing homes and condominiums picked up dramatically in the second quarter of 2010 relative to last year. Yet prices still fell.

Statewide, sales volumes for existing homes and condos increased 21% and 45% respectively. But median sales prices for those properties fell — down just 1% for homes, but 10% for condos.

The Sarasota-Bradenton and Tampa-St. Petersburg-Clearwater markets saw similar spikes in sales volumes while also enjoying slightly more stable sale prices.

In Sarasota, 3,098 existing single-family homes were sold in the second quarter of this year, up 33% from the 2,332 sold in 2009. The median price for those home sales also rose, up 5% to $166,800, according to data collected by Florida Realtors.

Condo sales volumes rose dramatically as well, from 677 sold in last year's second quarter to 1,116 sold this year. The median price fell 1%.

The Tampa market saw a 29% increase in home sales and an even larger increase in condo sales, up 86% over the year. Prices in both markets were relatively stable, with home prices staying flat and the median condo price rising just 2%.

The Fort Myers-Cape Coral area saw a 30% increase in condo sales, but home sales fell 3%. Median prices were up 2% and down 1% in those respective markets.

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