Florida Condo Prices Rose in October, But Homes Went Lower

Has Florida's condo market finally bottomed out?

After a succession of year-to-year decline, the median condominium price rose 9 percent in October compared with October 2010. The median price is now $87,800, according to data released Monday by Florida Realtors.

That figure would appear to give Florida condos room to rise further, as the national median price was $163,800 in September.

The Florida condo sales volume was up a healthy 12 percent to 6,132 units.

Meantime, the state's single-family home prices slid again. Though sales rose 13 percent from a year ago, the median price fell 3.9 percent to $131,200, a decline blamed on the continued high volume of foreclosed properties.

Speaking of home sales, Florida Realtors Chief Economist John Tuccillo said, The monthly median prices have ticked down slightly for the past few months, but the overall trend continues to show gains year-over-year."