Sales of existing condominiums rose 15% in Florida in the third quarter as lower prices continued to attract both domestic and foreign bargain hunters.
According to Florida Realtors, 16,938 condo units changed hands statewide in the third quarter compared to 14,793 during the same period a year ago.
Fourteen of Florida's 19 metropolitan statistical areas reported an increase in sales. The MSAs which have yet to see a rebound include Fort Lauderdale, Ft. Walton Beach, Gainesville, Pensacola and Tallahassee.
In Pensacola, condo sales were off 32%; in Gainesville, they were down 31%.
The median price of a condo dropped 21% during the period, from $106,000 a year ago to $84,000 now. But the median sank 36% in Ocala. It was down 32% in Daytona Beach, Melbourne-Titusville and Pensacola, and dropped 31% in Jacksonville. Not one of the 19 MSAs reported a higher median.
