According to the Florida Association of Realtors, existing home sales across Florida rose 34% over the year before. The rise is primarily attributed to the First time homebuyer tax credit, which ends at the end of November.
Results were even better for condos across the state. Sales of existing condos rose 77% over the previous years sales numbers.
But don’t go thinking this sudden (possibly short-lived) jump in demand will send prices soaring again. While the number of homes sold increased, the median sales price has decreased. Last year at this time the median sales price was $174,900 compared with $142,000 this year.
So if you are in the market for a home in an established retirement community, you may notice slightly less inventory than you would have a year ago, but the prices might be even less than they were this time last year.