Latest prices show growth holds

Florida's residential real estate markets responded as the federal homebuyer tax credit inched closer to expiration last month. Both the number of properties sold, as well as the median prices, increased statewide.

A release issued by Florida Realtors states that 16,781 existing single-family homes were sold statewide in April, up slightly from March's total of 16,294 homes. The median sale price increased 2.3% up to $140,100 from $137,000 in March.

A total of 7,291 existing condominiums were sold in April, up 2% from the 7,148 sold in March. The median sale prices also increased, up to $103,600 last month compared to $96,900 in the previous month.

Median prices especially seem to be moving away from a market bottom locally. April's median price points were higher for each of the Gulf Coast's metropolitan areas relative to their first quarter averages, the data shows.

The question is whether this forward momentum continues after the tax credits for homebuyers ends.

Click here for a chart comparing April's price data to the same metrics from previous months.