The Florida Association of Realtors announced last week that Florida existing home sales had risen for the 10th consecutive month in the year-to-year comparison as well as in the May 2009 to June 2009 comparison. Sales of existing homes rose by 28% over last June, while condos were the biggest winner with a 39% increase over last year, and an 8.3% increase over condo sales in May this year. Of course, these great figures sent me poring over my MLS stats to see where Manatee County and the Island stand.
Oddly enough, sales of residential properties in Manatee County have held steadily, with 447 sales last June as compared to 444 this June; 354 single family homes sold last year compared to 332 this year. The biggest difference in our area comes down to the condo market. In the county, condo sales rose by 62% over last June, while on the Island, they doubled this year over last. Of course, part of this reason is that the median price of condos on the Island dropped by 69% this year over last, as compared to only 23% in the County, making condos much more affordable this year than last.
Florida’s median sales price for an existing home last month was $148,000. A year ago, the price was $205,300. In our area, I’m happy to say, we’re still ahead of the statewide average: In Manatee County the median sales price this June was $175,000 versus $230,000 last June. The Island is doing even better at $325,000 this June versus $525,000 last year. What about those condos? At an average sales price of $176,000, they’re still a great buy.