November was a very positive month for real estate sales in November: area home resales rose 84%, reflecting the strong statewide trend upward, and beating national sales figures, as reported by the Florida Assn. of Realtors. November marked the 15th month that statewide sales activity has increased in the year-to-year comparison.
Realtors sold 773 homes in Volusia and Flagler counties last month, compared with 420 during the same period last year. The median price: the midpoint at which half the homes sold for more and half sold for less, was $130,500, down 11 percent from the median price in November 2008.
Also in November, Realtors sold 137 existing condos, more than twice the number sold during November 2008. The median price for condos was $171,300 last month, less than 2 percent lower than the $174,300 posted last year.
Across the nation, home sales surged to the highest level in nearly three years, reflecting an extraordinary level of federal support that has pulled the housing market back from the worst downturn since the Great Depression. The National Association of Realtors said sales rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million in November, from a downwardly revised pace of 6.09 million in October.
Marge Allison, president of the Daytona Beach Area Association of Realtors, said several factors could have caused the surge. Many predicted the positive momentum gained most of the year would slowdown, as it got closer to the end of 2009.
The 1st Time Buyer Tax Credit, and Sellers Trade Up Credits, in place in 2010, she said are "Great incentives. Now is a good time to buy in Florida. We have some real bargains."
You've heard me say that over and over. Prices are so low - and not just for foreclosures and short sales - it is the real estate opportunity of a generation. Search Daytona Beach homes for sale on my web site, and contact me for detailed community statistics for any area in Daytona Beach.
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