State not found: OK;s gonna be cold outside … keep heating assistance for low-income families alive

Home : Blogs : Dan Magstadt : Dan Magstadt's Mortgage Blog

Home Sales Are UP Across Florida

Below are May's Florida home sales numbers. You can see that sales are up pretty significantly over 2008's numbers.

This is due to the large number of bank owned & foreclosure/pre-foreclosure properties out there - Investors & homebuyers looking for a good deal are snatching the properties up.

I've had numerous situations in the last 4-6 weeks where a buyer was looking for a house in the $125,000-$175,000 price range. After putting offers on 5-10 properties over the course of a month they got beat out of every one of them, many times the home selling for tens of thousands of dollars above the list price.

Many times the homes have only been on the market for a day or two & get 10-20 offers.

This is a great thing though...it's clearing out the inventory & will help get the housing market back to normal.

May 2009 Florida Home Sales Chart

Rates are still in the low 5's, and with prices at this level, there's never been a better time to buy a home.

Posted by Dan Magstadt on 07/15/2009 10:30 AM

Comments (9)

May 2009 Florida Home Sales in the ActiveRain Channel

may home sales, florida real estate, foreclosures, short sales, investors, reo, bank owned

This post has been included in Florida Information Columbia County, FL Information Lake City, FL Information
Post is included in group: "Whacked"!!!
Post is included in group: The Lounge at Active Rain
Post is included in group: Realtors®
Post is included in group: Mortgages
Post is included in group: Club Chaos

9 Comments on Home Sales Are UP Across Florida

JUL

We are seeing numbers that have ratcheted up quite recently, some of them are shocking considering the market last year. I checked four subdivisions yesterday in Germantown, Gaithersburg, Bowie and College Park and found that 66% of the homes were under contract.

Wow!!

Love to hear it!! There is lots of news around the country that things are looking up!

Best,
Dan

I am glad to hear that because the Florida housing market has been one of the hardest hit in the U.S. DAC

We're seeing this here in our area. I hope it's sustainable. Thanks for the post.

Dennis - A lot of people say when FL & CA turn around the rest of the country will turn around...I tend to agree

Gabe - Glad to hear that...sell on!!

This is good news! The only down side is that prices have fallen sigificantly - but then again, property is now affordable to many who could not afford to buy the last few years. I posted a blog on the topic. http://activerain.com/blogsview/1137948/sales-are-up-

JUL

I agree Joe...prices had gotten so out of line that the correction is a good thing. Sellers are getting slammed, which is unfortunate, but the price levels homes had reached were unrealistic & had to come down at some point.

I can't speak for all of California, but our June 2009 statistics just came out this morning for San Diego County, Home sales have been up for 12 consecutive months now, and prices have been up or flat for six consecutive months. The median home price is now $314,250, up $19,250 over May, representing a 6½% increase. DataQuick says that the one-month percentage gain was the biggest since they started keeping records back in 1988. Unfortunately, when it comes to percentages, they don't always tell the real story since an increase of one to two is a 100% gain, yet an increase of $500,000 to $1,000,000 is only a 50% gain. I'll take the 50% gain, thank you.

Mission Valley home, San Diego, California

That's impressive...our sales are way up, but our median price is WAY down.

Glad to hear CA is stabilizing...I'm confident the rest of the country will be following suit.

Best,
Dan

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?