Florida Home Sales Rise in 2010, But Prices Dip

Existing home sales in Florida rose slightly in 2010, bucking the national trend, but rampant foreclosures supressed sales prices, according to data released Thursday by the Florida Association of Realtors.

Home sales jumped 5 percent last year over 2009, but the median sales price was $136,500, a 4 percent drop. Still, sales trends in the Sunshine State reversed those across the rest of the nation, which experienced a 4.8 percent decline in 2010, the weakest year for home sales since 1997.

Florida's existing condos saw more drastic changes, with a 29 percent increase in sales in 2010, and a median sales price of $91,300 -- a 15 percent drop from 2009.

Despite the continuing sag in home values, FAR President Patricia Fitzgerald is optimistic in her outlook for Florida's real estate market in 2011.

"Looking to the future, 2011 is going to be a year of opportunity for buyers and sellers. Industry analysts report seeing steady economic improvements, including more jobs and stronger consumer confidence, which will have a positive, stabilizing impact on the housing market," Fitzgerald said.