New housing data showed that pending sales, closed sales and median prices rose in Florida, while the inventory of homes and condos for sale dropped in Florida's housing market in May, according to the Florida Realtors.
Home sale prices rose to a median of $147,000, up 9 percent from a year ago and up 2 percent from April. A total of 18,723 single-family homes changed hands, up 7 percent from a year ago and up nearly 7 percent just from April.
That upswing doesn't appear to be slowing down as the number of pending sales expected to close within 90 days was up 43 percent from a year ago for single-family homes and up 33 percent for townhomes and condos.
"The recovery in Florida's housing market and economy continues to grow stronger and stronger," said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale.
"Realtors across the state are reporting increased activity - in May, statewide pending sales were up 43.1 percent for existing single-family homes and up 33.4 percent for townhome-condo properties. In some areas, a shortage of for-sale inventory is resulting in multiple bids from buyers and rising price conditions," Greene added.
"Now, more than ever, successful buyers and sellers are realizing the value of working with a Realtor who knows their local markets."
The Greater Tampa Association of Realtors said median sales prices for single family homes have risen to $143,000, up almost 8 percent from last year. Two more numbers cheered by home sellers: Homes are selling after 41 days on the market on average, down from 67 days a year ago, and homes are fetching 92 percent of their original asking price.
The Pinellas Realtor Organization reported the median sales price at $135,000, up 16 percent from last year, with total home sales also up 16 percent. The group described houses in the $120,000 to $140,000 range as the "sweet spot" of the market, accounting for almost 10 percent of all closed sales in May.
