WEST PALM BEACH — Florida outshone the nation last month in existing home sales with Palm Beach County topping more than 1,000 purchases for the second consecutive month.

The 1,112 Palm Beach County single-family homes that traded hands in April was a 21 percent jump compared to the same time last year.

A more humble annual sales increase of 2 percent was seen statewide in April, according to a Florida Realtors report released Thursday.

Still, the small spike topped the dismal national numbers which showed a nearly 13 percent drop in purchases last month.

"Every agent I know is busy," said Realtor Craig Fialkowski, of Realty Elite, The Palm Beaches. "Anything that hits the market in reasonably good condition, priced right and not requiring too many repairs is under contract quickly, at or above list price."

The clamor for properties in the under $250,000 range may have contributed to the uptick in Palm Beach County's median sales price in April compared to the previous month.

While April's $198,800 is 17 percent down from the same time in 2010, it surpassed March's $186,500.

Statewide, the median sales price in April of $131,700 was up 4 percent from March, but down 6 percent from last year.

Treasure Coast sales struggled in April with annual purchases and median prices both down by 18 percent and 6 percent, respectively.

Lawrence Yun, chief economist for the National Association of Realtors, which also released its sales figures Thursday, blamed tighter lending standards and appraisals not coming in at agreed upon prices for April's disappointing national turnout.

"Given the great affordability conditions, job creation and pent-up demand, home sales should be stronger," Yun said. "Although existing home sales are expected to trend up unevenly through next year, unnecessarily tight credit is continuing to restrain the market, along with a steady level of low appraisals that result in contract cancellations."

According to the national association, 11 percent of Realtors surveyed said they had a contract canceled in April because an appraisal came in below the contracted price.

The median sales price nationwide for a single-family home last month was $163,200, 5 percent below a year ago.

Conservative home appraisal prices have been a challenge for Leibowitz Realty Group in Palm Beach Gardens, but the company has still seen an "unbelievable" turnaround in sales from last year, said owner Michael Leibowitz.

Dealing mostly in high-end homes in communities such as Mirasol, Ballenisles and Ibis, Leibowitz said many buyers are looking for second homes and often paying in cash.

"The second-home clientele is feeling better about the world, better about the economy," Leibowitz said. "Things have surged and we've even seen sellers make profits, which we haven't seen in a while."

Nationwide, all cash deals accounted for 31 percent of April sales, down from a record level of 35 percent in March.

But while cash purchases can smooth the purchasing process, they are stiff competition for buyers with loans.

Fialkowski said he has a buyer with an FHA loan relocating to Florida from Nevada. She's made unsuccessful offers on 12 homes, and was turned away even when she overbid the listing price.

The sellers are waiting for cash buyers, he said. "She was extremely frustrated about the process."

Florida's condominium sales were also up in April, increasing 17 percent statewide compared to 2010. The median sales price was $91,900, down 8 percent.

In Palm Beach County, 1,338 condominium units sold last month, up 31 percent from last year. The median sales price of $81,800 was down 20 percent for the same time period.

Treasure Coast condominium sales were down 19 percent to 123 units in April, with prices down 12 percent to $93,200.

Re-posted from article by Kimberly Miller - The Palm Beach Post.