Vacation Home Sales up in Hawaii and Florida
Housing Predictor reported a few days ago that vacation homes were experiencing a surge in sales in Hawaii and Florida.
Condo sales in Oahu, Hawaii, were up by almost 21% in the first two months of 2011, and the median home price was 7% higher than a year ago
In Miami, sales of existing condos increased by 58% compared to a year ago.
“We are even seeing instances in certain neighborhoods with multiple offers above asking price,” says Jack Levine, the Miami REALTORS® chairman.
In Florida, where 79% of sales were foreclosures or short sales, 29% more condos sold so far this year than in the same period last year. Half of all Floridian buyers paid cash.
See the full report here
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