The Florida Association of Realtors announced an 18% rise in home sales in May. Last month, 16,745 homes were sold statewide, up from 14,172 in May 2009. The increase marks the 21st straight month that property sales in the state have increased compared to the same month the year before.
The price of existing single-family homes rose slightly as well for the third consecutive month, from a median of $140,100 in April to $140,400 in May. However, it marks a 2% decrease from the median price last year. It is also lower than the national median price of $173,400 (April 2010).
Florida's condo sales recorded an even bigger jump of 40% in the year-to-year comparison: in May, 6,779 units were sold, compared to 4,845 units sold the same time last year. Median sales prices for condos also went down 13% to $98,700 in May 2010 from $113,500 in May 2009.