|
ORLANDO, Fla., Dec. 29 /PRNewswire/ -- The pace of Floridas housing
market eased somewhat in November -- traditionally a slower month for home
sales -- with statewide sales of existing single-family homes totaling
17,219 for a 1 percent increase over last years sales activity of
17,110 homes, according to the Florida Association of Realtors(R) (FAR).
Housing markets nationwide are starting to see a better balance between demand
and supply, according to many housing industry analysts, placing homebuyers
and sellers on a more even footing.
The statewide median sales price rose 31 percent in November to $250,500;
a year ago, it was $191,300. In November 2000, the statewide median sales
price was $117,900, which is an increase of about 112 percent over the five-
year period. The median is the midpoint, which is a typical market price where
half of the homes sold for more and half for less.
The national median sales price for existing single-family homes was
$216,200 in October, up 16.6 percent over last year, according to the National
Association of Realtors(R) (NAR). In California, the statewide median resales
price was $538,770 in October; in Maryland, it was $297,682; in New York, it
was $269,000; and in North Carolina, the average resales price was $215,762.
Interest rates for a 30-year fixed-rate mortgage averaged 6.33 percent in
November, up from the 5.73 percent rate recorded last year. FARs sales
figures reflect closings, which typically occur 30 to 90 days after sales
contracts are written.
Among the states larger metropolitan statistical areas (MSAs), the Tampa-
St. Petersburg-Clearwater MSA reported higher figures in both sales and median
price last month, with a total of 3,799 existing single-family homes changing
hands for a 16 percent increase over the 3,276 homes sold last year. The
markets median sales price increased 33 percent to $222,900; a year ago, it
was $167,100.
George Bodmer, president of the Greater Tampa Association of Realtors and
co-owner of Bayside Realty Group Inc., notes that mortgage rates, while edging
up, remained favorable in November, which encouraged buyers to enter the
market.
"The real estate market follows the jobs, and this area is basically a
community that goes to work," he says. "Weve got places to work, places to
play, good schools and even with high demand and a tight inventory, weve been
fortunate in that we still have homes available to buy. Buyers know housing is
a good investment."
Other larger markets reporting higher sales in November include:
Jacksonville, where 1,425 homes sold for a 20 percent gain; and Orlando, where
2,656 homes changed hands for a 2 percent increase. The median sales price
also rose in both markets: in Orlando, 45 percent to $254,600; and in
Jacksonville, 17 percent to $190,000.
Among the states smaller MSAs, Tallahassee reported a 21 percent increase
in home sales last month, with a total of 357 homes sold compared to 296 homes
changing hands last year. The areas median sales price rose 12 percent over
the same period to $179,800; a year ago, it was $160,600.
"Tallahassee has a lot to offer and buyers are realizing its a great
place to live," says Mike Ferrie, president of the Tallahassee Board of
Realtors and sales associate with Blue Chip Realty Inc. "Our economy is
strong, with diverse business and employment opportunities. And the forecast
for jobs in this area continues to be good for the future as well."
Other smaller MSAs in the state also had higher home resales last month,
including: Lakeland-Winter Haven, where 475 homes changed hands for a
17 percent boost; and Gainesville, where 275 homes sold for a 13 percent gain.
The median sales price in those markets also rose over the same period: in
Lakeland-Winter Haven, 37 percent to $166,900; and in Gainesville, 18 percent
to $197,100.
A chart showing statistics for Florida and its 20 MSAs follows. The chart
compares the volume of existing, single-family home sales and median sales
prices in November 2005 to November 2004, based on Realtor transactions.
The Florida Association of Realtors, the voice for real estate in Florida,
provides programs, services, continuing education, research and legislative
representation to its more than 145,000 members in 68 boards/associations.
Florida Sales Report - November 2005
Single-Family, Existing Homes
Realtor Sales Median Sales Price
Statewide &
Metropolitan November November % November November %
Statistical Areas 2005 2004 Chge 2005 2004 Chge
(MSAs)
STATEWIDE 17,219 17,110 1% $250,500 $191,300 31%
STATEWIDE-YEAR-TO-DATE 231,060 222,005 4 $234,200 $180,600 30
Daytona Beach 962 871 10 $220,200 $163,000 35
Fort Lauderdale 788 997 -21 $391,100 $303,300 29
Fort Myers-Cape Coral 810 778 4 $295,400 $197,800 49
Fort Pierce-Port
St. Lucie 459 472 -3 $261,000 $212,900 23
Fort Walton Beach 322 393 -18 $241,300 $194,200 24
Gainesville 275 244 13 $197,100 $167,600 18
Jacksonville 1,425 1,190 20 $190,000 $162,600 17
Lakeland-Winter Haven 475 405 17 $166,900 $121,500 37
Melbourne-Titusville-
Palm Bay 538 568 -5 $231,400 $178,700 29
Miami 699 934 -25 $381,600 $290,800 31
Naples (1) 333 318 5 $479,800 $349,200 37
Ocala 383 440 -13 $163,000 $113,000 44
Orlando 2,656 2,600 2 $254,600 $175,400 45
Panama City 166 170 -2 $230,000 $185,500 24
Pensacola 503 492 2 $168,000 $138,600 21
Punta Gorda 245 289 -15 $236,900 $167,700 41
Sarasota-Bradenton 621 1,010 -39 $343,600 $256,700 34
Tallahassee 357 296 21 $179,800 $160,600 12
Tampa-St. Petersburg-
Clearwater (2) 3,799 3,276 16 $222,900 $167,100 33
West Palm Beach-
Boca Raton 952 880 8 $421,500 $343,300 23
(1) Data for Marco Island was not available.
(2) Data for Hernando County was not available.
This information is based on a survey of MLS sales levels from Floridas
Realtor boards/associations. MSAs are defined by the 2000 Census. Source:
Florida Association of Realtors and the University of Florida Real Estate
Research Center.
|
|
