Daytona Beach Real Estate Sees Rise in March

As reported by the RealEstate Channel, "Florida's existing home sales increased in March, making it the seventh month in a row that sales activity demonstrated gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR). March's statewide sales also increased over the previous month's sales level in both the existing home and existing condo markets.

"Florida Realtors also reported a 25 percent rise in statewide sales of existing condominiums in March, continuing a trend in recent months for higher statewide sales of both the existing home and existing condo markets compared to year-ago levels. Statewide existing condo sales last month increased 37.2 percent over the total units sold in February.

"Interest rates for a 30-year fixed-rate mortgage averaged 5 percent last month, down significantly from the average rate of 5.97 percent in March 2008, according to Freddie Mac. FAR's sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written. "

For Daytona Beach, 577 sales closed, up from 486 in March, 2008, a 19% gain. Sales of condos rose to 104 from 71, a 46% increase.

This is great news for sellers and buyers of Daytona Beach real estate.

Sherry Armstrong, Realtor
http://www.daytonabeachflhome.com/
http://www.sherryarmstrong.com/
sherry@sherryarmstrong.com
386-679-3191

Read the full report at RealEstate Channel.