2009 June 13 « Your Brevard County Real Estate News

First Quarter Reports Indicate that Sales are Up!

First Quarter Reports Indicate that Sales are Up

According to the Florida Association of Realtors single family home sales increased by 25% in the first quarter of 2009 compared to the same period in 2008. There were 31,412 existing home sales in Florida from January to March. In 2008 the number was 25,071. The figures have continued to rise over the past three quarters.

In Florida, our existing median sale price was $141,000 from January through March. This is a 30% decrease from the same time in 2008, where the figure was $202,300. The National Association of Realtors has reported that these prices may be a bit deceptive, in that short sales and foreclosures are pulling the figures down.

Interest rates averaged 5.06% for the first quarter of the year, according to Freddie Mac, compared to 5.88% in 2008.

I know that here in Brevard County we have been very busy with first time homebuyers, investors, out of town and international buyers. They are taking advantage of the attractive prices on real estate.

This article is authored by