Florida's Existing Home, Condo Sales Up in December; Sales Activity also Higher at Year End 2010

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Jan 20, 2011, 11:45 ET

ORLANDO, Fla., Jan. 20, 2011 /PRNewswire/ -- Sales of existing homes and condominiums in Florida rose in December, a positive trend also reported at the close of 2010 as statewide sales activity posted gains over the previous year, according to the latest housing data released by Florida Realtors®.

A total of 15,550 existing single-family homes sold statewide in December, up 4 percent from the 14,923 homes sold in December 2009. The statewide existing home median sales price last month was $133,100; in December '09 it was $139,800 for a 5 percent decrease, according to Florida Realtors' data. However, December's statewide existing home median price was higher than the $132,700 reported in November 2010. The national median existing single-family home price was $171,300 in November, according to the latest data available from the National Association of Realtors® (NAR). The median is the midpoint; half the homes sold for more, half for less.

In December, 12 of Florida's metropolitan statistical areas (MSAs) reported higher existing home sales and 14 MSAs reported higher existing condos sales. In the year-to-year comparison for statewide existing condo sales, a total of 6,673 units changed hands last month, up 12 percent from the 5,955 condos sold in December 2009. The statewide existing condo median sales price in December was $88,100; in December '09 it was $106,700 for a 17 percent decrease. The national median existing condo price was $165,300 in November, according to NAR.

Looking back on 2010, Florida's existing home sales rose 5 percent for the year, with a total of 170,848 homes sold compared to 162,873 homes sold in 2009. Statewide existing home sales activity in 2010 also was 37.5 percent higher than 2008 statewide sales, records show.

"It's encouraging to close out the year for Florida's housing market with increased sales activity," said 2011 Florida Realtors President Patricia "Pat" S. Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound. "The homebuyer tax credits helped to fuel home and condo sales during the first half of 2010, while favorable affordability conditions and historically low mortgage rates continued to bring buyers into the market in the waning months of the year.

"Looking to the future, 2011 is going to be a year of opportunity for buyers and sellers," Fitzgerald added. "Industry analysts report seeing steady economic improvements, including more jobs and stronger consumer confidence, which will have a positive, stabilizing impact on the housing market."

The statewide existing home median price for 2010 was $136,500; it was $142,500 in 2009 for a 4 percent decrease. In Florida's condo market, a total of 72,050 units sold statewide in 2010, a gain of 29 percent compared to 55,900 units sold in 2009. Statewide existing condo sales activity in 2010 was up 90.6 percent over the 2008 sales level, records show. The statewide existing condo median price in 2010 was $91,300; it was $108,000 in 2009 for a 15 percent decrease.

The latest industry outlook from NAR offers positive predictions for 2011. "Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable," said NAR Chief Economist Lawrence Yun. "All the indicator trends are pointing to a gradual housing recovery."

In December, the interest rate for a 30-year fixed-rate mortgage averaged 4.71 percent, down from the 4.93 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.

Several 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 December 2010 to December 2009 based on Realtor transactions; another compares the volume of existing, condominium sales and median sales prices in December 2010 to December 2009 based on Realtor transactions; also included are charts showing the same information for year end 2010 compared to year end 2009.

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.

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

Florida Sales Report – December 2010 Single-Family, Existing Homes
	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	December 2010	December 2009	% Chge	December 2010	December 2009	% Chge
STATEWIDE* (1)	15,550	14,923	4	$133,100	$139,800	-5
Daytona Beach	723	807	-10	$109,700	$124,400	-12
Fort Lauderdale	673	781	-14	$203,700	$212,900	-4
Fort Myers-Cape Coral	1,322	1,487	-11	$92,500	$94,500	-2
Fort Pierce-Port St. Lucie	476	564	-16	$111,100	$110,300	1
Fort Walton Beach	251	203	24	$193,100	$195,000	-1
Gainesville	181	169	7	$142,500	$163,300	-13
Jacksonville	1,228	1,162	6	$136,500	$143,200	-5
Lakeland-Winter Haven	296	316	-6	$103,200	$107,300	-4
Melbourne-Titusville-Palm Bay	577	434	33	$108,200	$104,100	4
Miami	734	623	18	$173,600	$204,300	-15
Ocala	300	352	-15	$82,200	$94,200	-13
Orlando	2,378	2,300	3	$125,200	$136,800	-8
Panama City	130	96	35	$138,900	$165,700	-16
Pensacola	333	258	29	$140,800	$137,400	2
Punta Gorda	264	284	-7	$88,400	$111,800	-21
Sarasota-Bradenton	945	872	8	$156,800	$167,400	-6
Tallahassee	171	163	5	$175,300	$185,400	-5
Tampa-St. Petersburg-Clearwater	2,754	2,345	17	$126,100	$136,400	-8
West Palm Beach-Boca Raton	929	849	9	$212,900	$247,900	-14
(1) * 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 – December 2010 Existing Condominiums
	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	December 2010	December 2009	% Chge	December 2010	December 2009	% Chge
STATEWIDE* (1)	6,673	5,955	12	$88,100	$106,700	-17
Daytona Beach	137	144	-5	$111,000	$146,700	-24
Fort Lauderdale	1,011	947	7	$70,700	$80,400	-12
Fort Myers-Cape Coral	431	463	-7	$128,200	$120,800	6
Fort Pierce-Port St. Lucie	109	144	-24	$75,800	$108,000	-30
Fort Walton Beach	117	101	16	$213,800	$242,200	-12
Gainesville	36	21	71	$88,000	$97,500	-10
Jacksonville	222	172	29	$81,600	$83,700	-3
Lakeland-Winter Haven	25	24	4	$51,000	$76,700	-34
Melbourne-Titusville-Palm Bay	169	102	66	$95,800	$100,000	-4
Miami	985	766	29	$99,100	$148,200	-33
Ocala	4	6	-33	$50,000	$36,000	39
Orlando	670	612	9	$50,500	$53,500	-6
Panama City	66	47	40	$175,000	$177,500	-1
Pensacola	48	34	41	$133,300	$230,000	-42
Punta Gorda	48	47	2	$96,000	$82,500	16
Sarasota-Bradenton	326	310	5	$132,400	$148,600	-11
Tallahassee	11	79	-86	$87,500	$69,600	26
Tampa-St. Petersburg-Clearwater	962	820	17	$84,100	$106,300	-21
West Palm Beach-Boca Raton	963	763	26	$82,600	$111,400	-26
(1) 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 – Year End 2010 Single-Family, Existing Homes
	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	Year End 2010	Year End 2009	% Chge	Year End 2010	Year End 2009	% Chge
STATEWIDE* (1)	170,848	162,873	5	$136,500	$142,500	-4
Daytona Beach	8,488	7,780	9	$119,100	$130,300	-9
Fort Lauderdale	7,997	8,816	-9	$206,100	$205,700	--
Fort Myers-Cape Coral	15,207	16,260	-6	$93,700	$90,400	4
Fort Pierce-Port St. Lucie	5,957	6,159	-3	$108,500	$112,600	-4
Fort Walton Beach	2,748	2,567	7	$188,000	$192,100	-2
Gainesville	1,970	1,828	8	$161,700	$168,700	-4
Jacksonville	13,373	12,022	11	$142,000	$152,200	-7
Lakeland-Winter Haven	3,541	3,703	-4	$101,500	$111,700	-9
Melbourne-Titusville-Palm Bay	6,110	5,900	4	$105,900	$116,000	-9
Miami	7,308	6,685	9	$189,400	$195,300	-3
Ocala	3,574	2,964	21	$87,900	$102,500	-14
Orlando	26,808	23,994	12	$131,400	$144,600	-9
Panama City	1,158	1,241	-7	$156,800	$171,900	-9
Pensacola	3,497	3,389	3	$141,000	$145,800	-3
Punta Gorda	3,063	2,988	3	$99,900	$105,000	-5
Sarasota-Bradenton	10,102	8,956	13	$158,000	$159,400	-1
Tallahassee	1,855	1,860	--	$169,300	$176,400	-4
Tampa-St. Petersburg-Clearwater	29,430	28,645	3	$131,800	$137,500	-4
West Palm Beach-Boca Raton	9,584	8,684	10	$228,900	$239,000	-4
(1) * Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island Association of Realtors. (2) Data from the St. Augustine & St. Johns County Board of Realtors for October 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 – Year End 2010 Existing Condominiums
	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	Year End 2010	Year End 2009	% Chge	Year End 2010	Year End 2009	% Chge
STATEWIDE* (1)	72,050	55,900	29	$91,300	$108,000	-15
Daytona Beach	1,866	1,453	28	$122,200	$168,400	-27
Fort Lauderdale	10,773	9,894	9	$73,400	$82,600	-11
Fort Myers-Cape Coral	4,725	3,920	21	$123,500	$125,400	-2
Fort Pierce-Port St. Lucie	1,339	1,155	16	$80,500	$96,200	-16
Fort Walton Beach	1,115	858	30	$231,900	$254,700	-9
Gainesville	391	326	20	$91,400	$119,100	-23
Jacksonville (2)	2,329	1,412	65	$78,200	$111,400	-30
Lakeland-Winter Haven	288	189	52	$57,900	$70,200	-18
Melbourne-Titusville-Palm Bay	1,604	1,324	21	$98,500	$117,800	-16
Miami	9,778	6,854	43	$116,900	$142,500	-18
Ocala	76	51	49	$40,000	$50,600	-21
Orlando	8,563	5,558	54	$50,400	$52,900	-5
Panama City	689	604	14	$176,600	$195,300	-10
Pensacola	494	497	-1	$171,900	$240,300	-28
Punta Gorda	543	404	34	$93,500	$95,200	-2
Sarasota-Bradenton	3,514	2,634	33	$138,800	$147,400	-6
Tallahassee	154	169	-9	$88,100	$92,000	-4
Tampa-St. Petersburg-Clearwater	9,720	7,424	31	$91,100	$105,300	-13
West Palm Beach-Boca Raton	10,100	7,887	28	$90,000	$107,300	-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) Data from the St. Augustine & St. Johns County Board of Realtors for October 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.