Florida condo, townhome prices up 20 percent

Closed sales of existing single-family homes rose 25.3 percent in October, according to a report released today by Florida Realtors. There were a total of 17,779 closed sales of existing single-family homes in October compared to the same month in 2011. Pending sales of existing single-family homes rose 56.7 percent in the same period, with the statewide median sales price for single-family homes reaching $145,000, an increase of 9 percent. On the townhome-condo side, a total of 8,252 units sold last month, a 16.4 percent jump. The statewide median sales price for townhome-condo properties was 20.2 percent over the previous year. “Once again, everything that should be going up in the market is going up, and everything that should be going down is going down,” said Dr. John Tuccillo, chief economist for Florida Realtors. — Alexander Britell