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Florida existing home sales down 8% in September, but condo sales up 10%

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Sales of existing single-family homes in Florida declined by 8% in September over the year-ago period, but existing condo sales rose 10%, according to housing data from Florida Realtors. The state trade group for real estate professionals said 13,536 single-family existing homes sold in Florida during September, down from 14,781 homes sold in September 2009. Florida’s median existing-home sales price was $133,400, down 6% from $141,700 a year ago. Sales of existing condominiums rose 10% in September, with 5,675 condos sold compared to 5,140 units sold in September 2009. But new condo sales are languishing in South Beach. The tony 24-block neighborhood has an 18-year supply of new condo units, according to a new report from CondoVultures. Ten of Florida’s metropolitan statistical areas reported higher existing condo sales in September, but prices were down significantly. The statewide existing-condo median sales price was $83,400, down 18% from $102,300 last year, but up 2% over August. “Like the rest of the nation, Florida’s housing market is feeling pressure from an uncertain economy,” said Florida Realtors President Wendell Davis, a broker with Watson Realty Corp. in Jacksonville. “Easing foreclosures and increasing job growth would go a long way in stabilizing the market and strengthening the economic recovery." The National Association of Realtor’s latest industry outlook calls for a gradual improvement in home sales in upcoming months. NAR reported Monday that existing home sales were up 10% nationwide in September compared to September 2009. Write to Kerry Curry.

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