State of Florida existing condo sales rise in November 2010

It was recently reported that every 8 seconds this year a baby boomer will retire.  Is that the reason for the recent rise in existing condo sales in the month of November?  Many retirees often look for warm climates to spend their winters, and it appears Florida has been
on the top of the list.  The Florida realtors association reports that an 11% rise in existing condo sales in November over the previous year.   In 09′ 4860 condominium units were sold in comparison to 5411 in 10′.  The median price for existing condos in the state
of Florida in 2009 was $88,200.  In 2010 we saw a slight decrease in the median price it was $82,400.

In our area of Cape Coral the trend held true.  In 2009, 498 condos sold with a median price of $76,000.  In 2010 existing condo sale were 527 with a median price of $76,000.  Is the trend because of the falling prices, retiree’s or increased interest in
foreign buyers?  There are so many great condos offered at great prices, many located on golf courses or offered with gulf access. 

We encourage buyers looking for a great new place to call home permanently or seasonally, come  see what Cape Coral has to offer.  If we can help with your search, please don’t hesitate to call.  We look forward to speaking with you.

 Yours in Success,     

The Florida Future Realty Team