Real estate sales trending up in Indian River County

INDIAN RIVER COUNTY — Local Realtors were beginning to see some higher priced homes in Indian River County come under contract in March, according to data released by the Indian River County Realtors Association.In comparing home sales from a year ago, sales increased from 141 homes in March of last year to 193 this past March. The median price increased from $130,000 to $133,000 in that span. This past February 131 homes sold at a median price of $110,000. Indian River County Realtors Association President Karl Zimmerman said he is starting to notice some homes in the million-plus dollar range coming under contract, but that the market still has a number of short sales taking place from homeowners walking away from property under water.”The new buyer credit is also still in effect and those normally interest people in the lower end of the market,” Zimmerman said.Zimmerman also said while the market is beginning to stabilize between reasonably-priced homes and motivated buyers, there are still some sellers who are in denial of the reality of the value of the homes as determined by comparable sales and buyers who still want to test the market.”Buyers have to understand the seller’s motives and sellers have to realize this is still a difficult market and you got to price things properly,  be as co-operative as possible during review period and make sure contingencies are resolved as you move toward closing,” he said.In the local condo market, sales from March 2009 included 39 units at a median price of $120,000 compared to 57 units at $115,000 last month. Zimmerman said the higher median price in 2009 reflected an anomaly, pointing out the this past February 43 condos were sold at a median price of $63,150.

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