Realtor sales of existing single-family homes and condominiums declined in July in Martin and Indian River counties compared with the previous month, but were close to what they were a year ago, data released Thursday by Florida Realtors shows.
Except for the number of sales, data for July in St. Lucie County was not available from the county?s Realtors association, which gets its data from the Multiple Listing Service.
Statewide, existing home sales in July increased 12 percent compared with a year ago, according to Florida Realtors.
While sales volume declined, median prices held fairly steady, the Florida Realtors report showed. The median is the midpoint; half the homes sold for more, half for less.
Statewide sales of existing condos last month also rose 12 percent in the year-over-year comparison.
?Realtors in markets across the state are reporting increased activity from potential homebuyers who are ready to advantage of historically low mortgage rates and current availability of affordable housing options,? said Florida Realtors President Pat Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart.
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Linda Prange, president of the Realtors Association of Martin County, said, ?Cash buyers continue to snap up the well-priced properties, but lenders need to start lending to creditworthy borrowers.?
Citing data from the Martin County MLS report, Prange said, ?Only about 41 percent of the sales were financed, while last July they accounted for almost 52 percent of the sales.?
Prange, director of development/communications for Better Homes and Gardens Real Estate/Laviano Associates in Stuart, also noted that the inventory of homes for sale has declined by almost 26 percent since July 2010.
Vicky Santana, president-elect of the Indian River County Realtors Association, said the number of transactions in both single-family homes and condos seems to be stabilizing.
The median single-family home price dropped 2 percent with a more significant fall in condo values, said Santana, owner-broker of Santana Real Estate in Sebastian River.
?Association and condo fees, in most cases, have not changed with the market or economy, and this has an impact on the overall market value and demand affecting condominiums,? Santana said.TREASURE COAST HOME SALES
July 2011 % change % change July 2011 % change % change
Homes Sold last month last year Median price last month last year
Indian River County 163 -19.3 1.2 118,000 -7.1 2.2
Martin County 104 -10.3 -5.5 206,000 -9.0 0.5
St. Lucie County 309 N/A N/A N/A N/A N/A
Florida 15,517 -11.8 11.8 136,500 -1.1 0.9
July 2011 % change % change July 2011 % change % change
Condos Sold last month last year Median price last year last year
Indian River County 43 -24.6 4.9 80,000 -14.0 -45.9
Martin County 30 -26.8 3.4 68,750 -33.9 5.9
St. Lucie County 48 -15.8 N/A N/A N/A N/A
Florida 6,619 -16.6 12.1 90,900 -3.2 3.5
SOURCES: Florida Realtors, Realtor associations of Indian River, Martin and St. Lucie counties.
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