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Business Observer Thursday, Nov. 11, 2010 8 years ago

Q3 real estate data disappoints

While condo sales picked up, home sales dropped as prices fell from 2009 levels.

A total of 41,122 existing single-family homes were sold in Florida in the third quarter of 2010, down 7% from the same time last year. And the median sale price for those homes fell 7% as well.

Sales picked up 15% in the state's condo market, according to the latest data issued by Florida Realtors, with 16,938 units sold. But the discount on those properties was even steeper than that for houses, as the median condo sale price fell 21% over the year.

Those statewide trends tended to hold true in each of the three major Gulf Coast metros. Existing home sales fell 17%, 4%, and 14% in Fort Myers-Cape Coral, Sarasota-Bradenton, and Tampa-St. Petersburg-Clearwater. The median sale price in Fort Myers rose 3%, to $91,700, but fell 10% in Sarasota to $152,900, and 6% in Tampa, to $131,100.

Condo sales volumes increased by 1%, 10%, and 7% in the Fort Myers, Sarasota, and Tampa markets respectively, while the median condo sale price fell 12%, 18%, and 17% respectively.

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