Sales of existing homes in Florida shot up 24 percent in March compared to a year ago as homebuyers rushed to take advantage of expiring federal tax credits.
Florida's median sales price for existing homes in March was $137,000, down 3 percent from a year ago, according to the Florida Realtors. The trade group said the median figure continued to be distorted by sales of foreclosures and other distressed properties, which typically sell at a sharp discount to other homes in a given market.
In the Tampa Bay area, the Realtors reported 2,782 homes sold in March, up 21 percent from March of 2009. The median sales price of $131,400 was down 3 percent from a year ago but up nearly 3 percent from February's $128,100.
Increased activity on the condo front was even more dramatic. Statewide, 7,148 condos sold in March, a 63 percent jump from a year ago.
In the Tampa-St. Petersburg-Clearwater market, 991 condo units changed hands, a 92 percent surge from last year. Sales prices for the units here were down 13 percent from a year ago.