Local Home Sales Sluggish Compared To Statewide Rate

May 23, 2013

Statewide single-family home sales are up 17.4 percent from a year ago, Florida Realtors reported Wednesday, while single-family home sales saw more sluggish growth in Escambia and Santa Rosa counties.

Statewide closed sales of existing single-family homes totaled 20,662 in April, with 477 closed sales in Escambia and Santa Rosa counties, up just 4.8 percent over a year ago. The average sales price locally was $144,950, almost steady from last year. The statewide median sales price for single-family existing homes last month was $165,000, up 14.2 percent from the previous year.

Townhouse and condo sales outpaced the state average, up 30 percent in April over a year ago. The state average was up 13.6 percent.

Florida Realtors chief economist John Tuccillo credited the sales increases to a stabilization of the distressed property market with the number of short sales dropping, while foreclosures and real estate owned property sales remaining steady. “Because the government is selling foreclosed properties in bulk and also using online auctions, our sales numbers actually understate the vigor of the market,” Tuccillo said in a Realtors’ news release.

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Written by William Reynolds · Filed Under News