ORLANDO, Fla., Nov. 21, 2011 /PRNewswire/ -- Florida's existing home and existing condo sales continued to show gains in October, according to the latest housing data released by Florida Realtors®. Existing home sales increased 13 percent last month with a total of 13,755 homes sold statewide compared to 12,145 homes sold in October 2010, according to Florida Realtors.
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"Statewide, both sales and prices are above where they were this time last year," noted Florida Realtors Chief Economist Dr. John Tuccillo. "The monthly median prices have ticked down slightly for the past few months, but the overall trend continues to show gains year-over-year.
"These numbers, combined with reports from Realtors throughout the state, indicate that we're seeing strong interest in purchasing Florida real estate from smart investors who are taking advantage of the current favorable market conditions," Tuccillo said. "These folks tend to have a long-term outlook and plan to hold onto their property purchases for a while."
Seventeen of Florida's metropolitan statistical areas (MSAs) reported higher existing home sales in October; 12 MSAs had higher existing condo sales.
The statewide median sales price for existing homes last month was $131,200; a year ago, it was $136,600 for a decrease of 4 percent. According to analysts with the National Association of Realtors® (NAR), sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.
The national median sales price for existing single-family homes in September 2011 was $165,600, down 3.9 percent from a year ago, according to NAR. In Massachusetts, the September statewide median resales price was $294,950; in California, it was $287,440; in Maryland, it was $228,879; and in New York, it was $217,600.
In Florida's year-to-year comparison for condos, 6,132 units sold statewide in October, a 12 percent increase over the 5,473 units sold in October 2010. The statewide existing condo median sales price last month was $87,800; a year earlier, it was $80,500 for a 9 percent gain. The national median existing condo sales price in September was $163,800, according to NAR.
"The latest unemployment figures indicate that Florida's jobs outlook is improving, mortgage rates remain at historical lows and buyers are able to consider a variety of housing options at affordable prices in communities across the state," said 2011 Florida Realtors President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. "This is a great time to consult a local Realtor® about homeownership opportunities in your local housing market."
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.07 percent in October, down from the 4.23 percent average during the same month a year earlier. Florida Realtors' sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Two charts showing statistics for Florida and the state's MSAs are attached. One chart compares the volume of existing, single-family home sales and median sales prices in October 2011 to October 2010 based on Realtor transactions; another compares the volume of existing, condominium sales and median sales prices in October 2011 to October 2010 based on Realtor transactions.
Florida Realtors®, formerly known as the Florida Association of Realtors®, serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 115,000 members in 64 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.
Editor's Note: You may wish to use this information with today's release from the National Association of Realtors.
Florida Sales Report – October 2011 |
||||||
Single-Family, Existing Homes |
||||||
|
Realtor Sales |
Median Sales Price |
||||
Statewide & Metropolitan Statistical Areas (MSAs) |
October 2011 |
October 2010 |
% Chge |
October 2011 |
October 2010 |
% Chge |
STATEWIDE* (1) |
13,755 |
12,145 |
13 |
$131,200 |
$136,600 |
-4 |
STATEWIDE-YEAR-TO-DATE |
157,638 |
145,252 |
9 |
$131,500 |
$136,600 |
-4 |
Daytona Beach |
698 |
645 |
8 |
$115,100 |
$122,800 |
-6 |
Fort Lauderdale (2) |
992 |
856 |
16 |
$181,300 |
$194,600 |
-7 |
Fort Myers-Cape Coral (3) |
938 |
1,002 |
-6 |
$102,100 |
$89,100 |
15 |
Fort Pierce-Port St. Lucie |
433 |
391 |
11 |
$100,600 |
$106,900 |
-6 |
Fort Walton Beach |
237 |
223 |
6 |
$184,200 |
$185,200 |
-1 |
Gainesville |
120 |
100 |
20 |
$154,000 |
$174,000 |
-11 |
Jacksonville (4) |
943 |
841 |
12 |
$124,100 |
$141,000 |
-12 |
Lakeland-Winter Haven |
281 |
246 |
14 |
$100,300 |
$94,200 |
6 |
Melbourne-Titusville-Palm Bay |
521 |
482 |
8 |
$106,800 |
$97,600 |
9 |
Miami |
769 |
546 |
41 |
$174,600 |
$199,100 |
-12 |
Ocala |
259 |
252 |
3 |
$80,300 |
$79,700 |
1 |
Orlando |
2,136 |
1,822 |
17 |
$127,800 |
$130,800 |
-2 |
Panama City |
105 |
103 |
2 |
$150,000 |
$151,800 |
-1 |
Pensacola |
296 |
273 |
8 |
$142,000 |
$141,100 |
1 |
Punta Gorda |
236 |
220 |
7 |
$90,000 |
$96,200 |
-6 |
Sarasota-Bradenton |
801 |
667 |
20 |
$137,100 |
$141,800 |
-3 |
Tallahassee |
138 |
153 |
-10 |
$160,000 |
$162,000 |
-1 |
Tampa-St. Petersburg-Clearwater (5) |
2,207 |
1,923 |
15 |
$123,800 |
$137,900 |
-10 |
West Palm Beach-Boca Raton |
918 |
723 |
27 |
$184,900 |
$221,200 |
-16 |
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island Association of Realtors. (2) Includes data from all associations in the market area. (3) Data from the Sanibel & Captiva Islands Association was not available. (4) Data from St. Augustine-St. Johns County Board of Realtors was not available. (5) Data from the Hernando Association of Realtors was not available.
Editor's note: Sales numbers represent totals of Realtors' closed transactions from local Realtor boards/associations within the MSAs.
This information is based on a survey of MLS sales levels from local Realtor boards/associations. MSAs are defined by the 2000 Census. Source: Florida Realtors® and the University of Florida Bergstrom Center for Real Estate Studies. |
Florida Sales Report – October 2011 |
||||||
Existing Condominiums |
||||||
|
Realtor Sales |
Median Sales Price |
||||
Statewide & Metropolitan Statistical Areas (MSAs) |
October 2011 |
October 2010 |
% Chge |
October 2011 |
October 2010 |
% Chge |
STATEWIDE* (1) |
6,132 |
5,473 |
12 |
$87,800 |
$80,500 |
9 |
STATEWIDE-YEAR-TO-DATE |
75,155 |
63,760 |
18 |
$88,100 |
$90,800 |
-3 |
Daytona Beach |
166 |
155 |
7 |
$120,000 |
$120,900 |
-1 |
Fort Lauderdale (2) |
1,150 |
1,075 |
7 |
$78,100 |
$62,300 |
25 |
Fort Myers-Cape Coral (3) |
256 |
250 |
2 |
$106,700 |
$104,300 |
2 |
Fort Pierce-Port St. Lucie |
96 |
68 |
41 |
$73,300 |
$70,000 |
5 |
Fort Walton Beach |
114 |
116 |
-2 |
$185,700 |
$226,300 |
-18 |
Gainesville |
28 |
22 |
27 |
$60,000 |
$60,000 |
— |
Jacksonville (4) |
140 |
152 |
-8 |
$63,500 |
$66,400 |
-4 |
Lakeland-Winter Haven |
22 |
19 |
16 |
$46,700 |
$47,500 |
-2 |
Melbourne-Titusville-Palm Bay |
147 |
143 |
3 |
$93,000 |
$88,600 |
5 |
Miami |
1,202 |
739 |
63 |
$117,900 |
$109,300 |
8 |
Ocala |
6 |
6 |
— |
$36,000 |
$40,000 |
-10 |
Orlando |
469 |
612 |
-23 |
$59,000 |
$50,700 |
16 |
Panama City |
103 |
56 |
84 |
$151,800 |
$180,000 |
-16 |
Pensacola |
46 |
48 |
-4 |
$190,000 |
$216,700 |
-12 |
Punta Gorda |
34 |
37 |
-8 |
$70,000 |
$97,500 |
-28 |
Sarasota-Bradenton |
254 |
230 |
10 |
$119,100 |
$127,700 |
-7 |
Tallahassee |
9 |
9 |
— |
$52,500 |
$102,500 |
-49 |
Tampa-St. Petersburg-Clearwater (5) |
757 |
726 |
4 |
$72,300 |
$81,600 |
-11 |
West Palm Beach-Boca Raton |
906 |
768 |
18 |
$72,100 |
$79,600 |
-9 |
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island Association of Realtors. (2) Includes data from all associations in the market area. (3) Data from the Sanibel & Captiva Islands Association was not available. (4) Data from St. Augustine-St. Johns County Board of Realtors was not available. (5) Data from the Hernando Association of Realtors was not available.
Editor's note: Sales numbers represent totals of Realtors' closed transactions from local Realtor boards/associations within the MSAs.
This information is based on a survey of MLS sales levels from local Realtor boards/associations. MSAs are defined by the 2000 Census. Source: Florida Realtors® and the University of Florida Bergstrom Center for Real Estate Studies. |
SOURCE Florida Realtors
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