Florida Realtors have reported a 63 percent increase of statewide existing condo sales in March compared to the previous year?s sales figure. Statewide year-to-year comparison shows 7,148 units sold in March 2010 compared to 4,387 sold the same time last year.

Even though the statewide median sales price was $96,000, down from the year-ago figure, it represented a 5.1 percent increase from February?s median price.

Locally, in March 2010, 110 condos were sold in Brevard County compared to 94 in March of last year.

The Ocean Club Cocoa Beach, Three Fountains of Viera and Villa Vista in Cocoa Beach were among a few complexes that had multiple closings in March.? The units in these complexes dropped their original asking prices.

In fact, Ocean Club Cocoa Beach, dropped over 60 percent since the summer of 2007.? Unit #303, a 2654 sq. ft. 3 bedroom 2 bath condo with a partial view of the Atlantic Ocean was $734,900 just sold for $325,000.

Recently The Great Florida Bank of Coral Gables took possession of Ocean Club, reduced the asking prices and also changed the rental restrictions to 1 week minimum.? Plus the fact that it was advertised as ?Bank Ordered Liquidation Sale? brought a lot of buyer interest as well.

“I have a lot of buyers that contact me asking only for Bank Owned or Short Sale properties” says Jennifer McCoy of RE/MAX Elite. “The truth is that there are other deals out there that are not a distressed sale.”

With the increase in sales means good news for Florida. Many out-of-town buyers are back to take advantage of the lower prices and to own a piece of Florida paradise.

Bobby Freeman, CDPE
McCoy-Freeman Group
#1 RE/MAX TEAM in BREVARD COUNTY
RE/MAX ELITE
321-693-1694 Bobby Freeman
www.FloridaBeachHomesAndCondos.com
www.BrevardRealtyConnection.com
www.CocoaBeachCondoGallery.com
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