Florida’s existing home sales rose in February, which means that sales activity has increased in the year-to-year comparison for the past year and a half, according to the latest housing data released by Florida Realtors.
Existing home sales increased 21 percent with 11,890 homes sold statewide compared to 9,867 in February 2009, according to the state association. Statewide existing home sales increased 13.6 percent over statewide sales activity in January.
Home sales in the Jacksonville area also increased, this time by 16 percent.
Florida Realtors also reported a 59 percent increase in statewide sales of existing condos in February compared to the previous year’s sales figure; statewide existing condo sales last month rose 9.8 percent over the total units sold in January.
In the Jacksonville area, the increase was 126 percent.
Seventeen of Florida’s metropolitan statistical areas reported increased existing home sales in January, while all but one MSA had higher condo sales. A majority of the state’s MSAs have reported increased sales for 20 consecutive months.
Florida’s median sales price for existing homes was $131,300; a year ago, it was $141,800 for a 7 percent decrease. The Jacksonville decrease was 11 percent, from $159,500 to $142,400.
Interest rates for a 30-year fixed-rate mortgage averaged 4.99 percent in January, even lower than the average rate of 5.13 percent in February 2009, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.