Florida Realtors: Florida's Existing Condo Sales Rise in November 2010

News provided by

Dec 22, 2010, 11:05 ET

ORLANDO, Fla., Dec. 22, 2010 /PRNewswire/ -- Sales of existing condominiums in Florida rose 11 percent in November, with a total of 5,411 condos sold statewide compared to 4,860 units sold in November 2009, according to the latest housing data released by Florida Realtors®.

Thirteen of Florida's metropolitan statistical areas (MSAs) reported higher existing condo sales in November, according to Florida Realtors. The statewide existing condo median sales price last month was $88,200; in November 2009 it was $104,500 for a 16 percent decrease. However, November's statewide existing condo median price was 7 percent higher than the statewide existing condo median of $82,400 in October. The national median existing condo price was $166,000 in October, according to the National Association of Realtors® (NAR).

Meanwhile, in the year-to-year comparison for existing home sales, a total of 11,900 single-family existing homes sold statewide last month compared to 13,961 homes sold in November 2009 for a decrease of 15 percent. Florida's median existing-home sales price in November was $132,700; a year earlier, it was $139,300 for a decrease of 5 percent. 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 October was $171,100, down 0.5 percent from a year earlier, NAR reported. In California, the statewide median resales price was $304,220 in October; in Massachusetts, it was $294,000; in Maryland, it was $245,355; and in New York, it was $215,850.

The latest industry outlook from NAR continues to predict a gradual improvement in home sales in upcoming months. However, the report also noted that a temporary halt to foreclosures in Florida and several other states delayed closings and impacted sales activity.

"The housing market is experiencing an uneven recovery," said NAR Chief Economist Lawrence Yun. "Still, sales activity is clearly off the bottom and is attempting to settle into normal sustainable levels. Based on current and improving job market conditions, and from attractive affordability conditions, sales should steadily improve to healthier levels of above 5 million by spring of next year."

In November, the interest rate for a 30-year fixed-rate mortgage averaged 4.30 percent, down from the 4.88 percent average during the same month a year earlier, according to Freddie Mac. 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 November 2010 to November 2009 based on Realtor transactions; the other compares the volume of existing, condominium sales and median sales prices in November 2010 to November 2009 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 65 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

Note to Editors: You may wish to use this information with today's release from the National Association of Realtors.

Florida Sales Report – November 2010

Single-Family, Existing Homes


	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	November 2010	November 2009	% Chge	November 2010	November 2009	% Chge
STATEWIDE* (1)	11,900	13,961	-15	$132,700	$139,300	-5
STATEWIDE-YEAR-TO-DATE	155,298	147,950	5	$136,800	$142,800	-4
Daytona Beach	593	773	-23	$115,000	$130,500	-12
Fort Lauderdale	553	707	-22	$199,000	$182,100	9
Fort Myers-Cape Coral	1,022	1,530	-33	$89,800	$95,100	-6
Fort Pierce-Port St. Lucie	377	567	-34	$109,100	$111,700	-2
Fort Walton Beach	188	226	-17	$184,200	$175,500	5
Gainesville	134	166	-19	$163,800	$167,000	-2
Jacksonville	912	1,101	-17	$144,700	$151,600	-5
Lakeland-Winter Haven	234	312	-25	$101,000	$107,900	-6
Melbourne-Titusville-Palm Bay	454	391	16	$105,600	$105,000	1
Miami	679	455	49	$171,500	$184,800	-7
Ocala	269	251	7	$75,900	$87,800	-14
Orlando	1,867	2,292	-19	$127,300	$137,100	-7
Panama City	91	101	-10	$159,000	$173,600	-8
Pensacola	263	330	-20	$134,200	$150,500	-11
Punta Gorda	215	270	-20	$92,500	$100,000	-8
Sarasota-Bradenton	699	784	-11	$149,300	$160,000	-7
Tallahassee	118	174	-32	$170,000	$162,000	5
Tampa-St. Petersburg- Clearwater	2,060	2,282	-10	$125,000	$139,100	-10
West Palm Beach-Boca Raton	695	733	-5	$208,400	$227,500	-8

* Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island
Association of Realtors.

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 – November 2010

Existing Condominiums


	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	November 2010	November 2009	% Chge	November 2010	November 2009	% Chge
STATEWIDE* (1)	5,411	4,860	11	$88,200	$104,500	-16
STATEWIDE-YEAR-TO-DATE	65,377	49,945	31	$91,700	$108,100	-15
Daytona Beach	129	137	-6	$130,000	$171,300	-24
Fort Lauderdale	781	898	-13	$70,500	$86,500	-18
Fort Myers-Cape Coral	260	299	-13	$107,400	$113,500	-5
Fort Pierce-Port St. Lucie	92	100	-8	$93,300	$87,100	7
Fort Walton Beach	114	65	75	$270,800	$253,600	7
Gainesville	30	16	88	$85,000	$120,000	-29
Jacksonville	166	132	26	$83,100	$90,000	-8
Lakeland-Winter Haven	29	16	81	$55,000	$65,000	-15
Melbourne-Titusville-Palm Bay	127	86	48	$116,700	$100,000	17
Miami	1,039	609	71	$105,600	$149,000	-29
Ocala	7	4	74	$47,500	$60,000	-21
Orlando	522	541	-4	$52,100	$55,000	-5
Panama City	60	51	18	$152,500	$188,300	-19
Pensacola	43	37	16	$175,000	$291,700	-40
Punta Gorda	32	36	-11	$75,000	$80,000	-6
Sarasota-Bradenton	252	239	5	$130,500	$141,000	-7
Tallahassee	8	5	60	$67,500	$110,000	-39
Tampa-St. Petersburg-Clearwater	695	665	5	$85,100	$104,500	-19
West Palm Beach-Boca Raton	773	690	12	$79,100	$103,000	-23

*Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island
Association of Realtors.

Editor's note: Sales numbers represent totals of Realtors' closed transactions from local Realtor
boards/associations within the MSAs.

SOURCE Florida Realtors