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Florida home sales jump 24 percent but prices still down from 2009

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.

Florida home sales jump 24 percent but prices still down from 2009 04/22/10 [Last modified: Monday, June 21, 2010 3:20pm]
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