ORLANDO, Fla. – March 21, 2011 – Florida ’s existing home and existing condo sales rose in February, according to the latest housing data released by Florida Realtors®. Existing home sales increased 13 percent last month with a total of 13,701 homes sold statewide compared to 12,164 homes sold in February 2010, according to Florida Realtors. February’s statewide sales of existing condos rose 29 percent compared to the previous year’s sales figure. Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in February; 18 MSAs had higher condo sales. It’s the third month in a row that Florida Realtors has reported higher year-over-year existing home and existing condo sales statewide. “Current market conditions and very low mortgage rates continue to offer great opportunities to anyone looking to buy a home in Florida,” said 2011 Florida Realtors® President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Ho

Sales up; inventory at six year low in Sarasota market The number of available properties in the Sarasota real estate market dropped to a six-year low in February 2011, and sales were up 24.2 percent from the previous month. Median sales prices for both single and condominiums dropped as bargain hunters continued to grab foreclosures and short sales , which represented almost 47 percent of all sales. Compared to this time last year, sales were up 27 percent to 673 total sales, from February 2010's total of 528 sale. There were 472 closings on single family homes and 201 closings on condos last month by members of the Sarasota MLS. In addition to the positive sales figures, pending sales also registered above the 1,000 level in February, with 1,023 total properties going under contract last month. In January 2011, 1,013 properties went under contract. This statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer