January 21, 2012
Florida's
Existing Home and Condo Sales Down in December 2011,
But Sales Activity Higher Overall For 2011
Courtesy of The Goulding Report
Sales of existing
homes and condominiums in Florida were down slightly
in December 2011, with a significantly positive
trend reported overall for 2011, as statewide sales
activity posted gains over the previous year,
according to the latest housing data released by
Florida Realtors®.
A total of 15,290
existing single-family homes sold statewide in
December 2011, down 2 percent from the 15,546 homes
sold in December 2010. The statewide existing home
median sales price last month was $134,300; in
December '10 it was $133,000 for a 1 percent
increase.
A total of 6,836
existing condos sold statewide in December 2011,
down 2 percent from the 6,985 homes sold in December
2010. The statewide existing condo median sales
price last month was $91,900; in December '10 it was
$88,400 for a 4 percent increase.
Existing home
sales in Florida for December 2011
were down 2% statewide, with median sales prices up
1% compared to December 2010. Existing home sales
in Fort Myers were down 25%, with median sales
prices up 36%, while home sales in Miami were up 16%
with median sales prices up 5%. Existing home
sales in Panama City were down 19% with median sales
prices up 3% for December 2011 vs. December 2010.
Existing condo
sales in Florida for December 2011
were down 2% statewide, with median prices up 4%
statewide. Ocala showed an increase of 50% with
median prices down 20%, while Fort Pierce showed an
increase in condo sales of 26% with median sales
prices up 20% compared to December 2010. Existing
condo sales in Panama City were down 8% with median
sales prices up 14% for December 2011 vs. December
2010.
Existing home
sales in Florida for 2011
were up 8% statewide, with median sales prices down
3% compared to 2010. Existing home sales in Fort
Myers were down 7%, with median sales prices up 15%,
while home sales in Miami were up 36% with median
sales prices down 9%. Existing home sales in
Panama City were up 13% with median sales prices
down 9% for 2011 vs. 2010.
Existing condo
sales in Florida for 2011
were up 15% statewide, with median prices down 2%
statewide compared to 2010. Orlando showed a
decrease of 21% with median prices up 12%, while
Miami showed an increase in condo sales of 54% with
median sales prices down 3% compared to 2010. Existing
condo sales in Panama City were up 31% with median
sales prices down 7% for 2011 vs. 2010.
See more specific geographic information and sales
statistics at
www.TheGouldingReport.com.
For more information on Real Estate in Northwest
Florida,
and these complete real estate sales reports in PDF
format,
please visit
www.RealEstateRealityCheck.info.
For more information on Real Estate in Northwest
Florida, and these complete real estate sales
reports in PDF format, see below.
View December 2011 Home sales
View December 2011 Condo sales
View Year-End 2011 Home sales
View Year-End 2011 Condo sales
* * * * *
Florida’s Existing Home,
Condo Sales Up in July
2011
Florida’s existing
home and existing condo sales rose in July,
according to the latest housing data released by
Florida Realtors®.
Existing home
sales increased 12 percent last month with a total
of 15,517 homes sold statewide compared to 13,874
homes sold in July 2010, according to Florida
Realtors. Statewide sales of existing condos last
month also rose 12 percent compared to the year-ago
sales figure.
“Realtors in
markets across the state are reporting increased
activity from potential homebuyers who are ready to
advantage of historically low mortgage rates and
current availability of affordable housing options,”
said 2011 Florida Realtors President Patricia
Fitzgerald, manager/broker-associate with
Illustrated Properties in Hobe Sound and Mariner
Sands Country Club in Stuart.
Fifteen of
Florida’s metropolitan statistical areas (MSAs)
reported higher existing home sales in July; 13 MSAs
had higher existing condo sales.
The statewide
median sales price for existing homes last month was
$136,500; a year ago, it was $137,700 for only a 1
percent decrease. Analysts with the National
Association of Realtors® (NAR) note that 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 June 2011 was $184,600, up 0.6 percent from a
year ago, according to NAR. In Massachusetts, the
statewide median resales price was $325,850 in June;
in California, it was $295,300; in Maryland, it was
$247,100; and in New York, it was $221,595.
In Florida’s
year-to-year comparison for condos, 6,619 units sold
statewide last month compared to 5,904 units in July
2010 for an increase of 12 percent. The statewide
existing condo median sales price last month was
$90,900; in July 2010 it was $87,800 for a 4 percent
increase. NAR notes the national median existing
condo sales price was $182,300 in June 2011.
Economic
uncertainty continued to impact the recovery of the
housing sector, according to NAR’s latest industry
outlook. NAR Chief Economist Lawrence Yun pointed to
overly restrictive lending requirements, low
appraisals and federal budget issues as factors
affecting the pace of sales activity.
Economic and
political worries also dampened the outlook for
Florida’s real estate markets, according to the
University of Florida’s Bergstrom Center for Real
Estate Studies’ latest quarterly survey of real
estate trends. The report surveys economists,
industry executives, real estate scholars,
researchers and other experts.
“Even though
unemployment in Florida improved in many markets,
the pace of change and the still-high levels are
affecting the pace of improvements in the real
estate markets,” said Center Director Tim Becker.
“Consumers continue to be cautious and pessimistic
about their own spending, which is also affecting
the rate of fundamental improvement.”
According to
Freddie Mac, the interest rate for a 30-year
fixed-rate mortgage averaged 4.55 percent in July,
about the same level as the 4.56 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.
View
July 2011 Home sales
View
July 2011 Condo sales
For more
info visit
www.RealEstateRealityCheck.info
* * * * *
July 21,
2011
Florida’s Existing Condo Sales, Median Price
Up in June 2011
Florida’s existing condo sales rose 8 percent
in June with a total of 7,941 units sold statewide compared
to 7,330 sold in June 2010, according to the latest housing
data released by Florida Realtors®. The statewide existing
condo median sales price last month was $93,900; a year
earlier, it was $92,300 for a 2 percent increase. The
national median existing condo sales price was $165,400 in
May 2011, according to the National Association of Realtors®
(NAR).
“Promising signs continue for a slowly
strengthening economy and housing market,” said 2011 Florida
Realtors President Patricia Fitzgerald,
manager/broker-associate with Illustrated Properties in Hobe
Sound and Mariner Sands Country Club in Stuart. “Mortgage
interest rates remain historically low and affordability
conditions are strong.”
Nine of Florida’s metropolitan statistical
areas (MSAs) reported higher existing condo sales in June;
six MSAs had higher existing home sales.
In Florida’s year-to-year comparison for
existing home sales, a total of 17,597 homes sold last month
compared to 18,402 homes sold in June 2010 for a decrease of
4 percent. The statewide median sales price for existing
homes last month was $138,000; a year earlier, it was
$141,200 for a 2 percent decrease.
However, June’s statewide existing home
median price was about 1.8 percent higher than it was in
May. 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,
according to NAR analysts. 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 May 2011 was $166,700, down 4.5
percent from a year ago, according to NAR. In Massachusetts,
the statewide median resales price was $300,375 in May; in
California, it was $291,760; in Maryland, it was $233,568;
and in New York, it was $211,900.
NAR’s latest industry outlook points to the
still-sluggish job market and overly restrictive lending
requirements as factors constraining housing’s recovery.
“The job market has sputtered recently, and because
variations in local job creation impact housing demand,
markets will recover unevenly around the country,” said NAR
Chief Economist Lawrence Yun. “If banks would simply return
to normal sound underwriting standards and begin lending to
more creditworthy borrowers, we’d get a much faster recovery
in the housing sector.”
The interest rate for a 30-year fixed-rate
mortgage averaged 4.51 percent in June, significantly lower
than the 4.74 percent averaged 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.
View
June 2011 Home sales
View
June 2011 Condo sales
For more
info visit
www.RealEstateRealityCheck.info
* * * * *
May 19,
2011
Florida’s Existing Home, Condo Sales Up in April
2011
Florida’s existing home and existing condo sales
rose in April, according to the latest housing data
released by Florida Realtors®.
Existing home sales increased 2 percent last month
with a total of 17,192 homes sold statewide compared
to 16,781 homes sold in April 2010, according to
Florida Realtors. Statewide sales of existing condos
last month rose 17 percent compared to the year-ago
sales figure.
Twelve of Florida’s metropolitan statistical areas (MSAs)
reported higher existing home sales in April; 14
MSAs also had higher condo sales. It’s the fifth
consecutive month that Florida Realtors has reported
higher year-over-year existing home and existing
condo sales statewide.
“Market conditions remain optimal for qualified
buyers with strong credit,” said 2011 Florida
Realtors® President Patricia Fitzgerald,
manager/broker-associate with Illustrated Properties
in Hobe Sound and Mariner Sands Country Club in
Stuart.
“Mortgage interest rates are under five percent, a
range of housing options is available at very
affordable prices, and the economic recovery
continues to strengthen. Realtors across the state
are reporting increased interest from buyers ready
to find their Florida dream home.”
Florida’s median sales price for existing homes last
month was $131,700; a year ago, it was $140,300 for
a 6 percent decrease. However, April’s statewide
existing home median price was 4.3 percent higher
than it was in March. Analysts with the National
Association of Realtors® (NAR) note that 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 March 2011 was $160,500, down
5.3 percent from a year ago, according to NAR. In
California, the statewide median resales price was
$286,010 in March; in Massachusetts, it was
$273,475; in New York, it was $215,000; and in
Maryland, it was $215,000.
NAR’s latest industry outlook predicts that existing
home sales will continue to rise gradually but
unevenly. “Existing home sales have risen in six of
the past eight months, so we’re clearly on a
recovery path,” said NAR Chief Economist Lawrence
Yun. “With rising jobs and excellent affordability
conditions, we project moderate improvements into
2012, but not every month will show a gain –
primarily because some buyers are finding it too
difficult to obtain a mortgage.”
In
Florida’s year-to-year comparison for condos, 8,987
units sold statewide last month compared to 7,703
units in April 2010 for an increase of 17 percent.
The statewide existing condo median sales price last
month was $91,900; in April 2010 it was $100,200 for
an 8 percent decrease. April’s statewide existing
condo median price was 9 percent higher than it was
in March. The national median existing condo sales
price was $153,100 in March 2011, according to NAR.
The
interest rate for a 30-year fixed-rate mortgage
averaged 4.84 percent in April, significantly lower
than the 5.10 percent averaged 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.
View
April 2011 Home sales
View
April 2011 Condo sales
For more
info visit
www.RealEstateRealityCheck.info
* *
* * *
April
20, 2011
Florida’s Existing Home, Condo Sales Up in
March 2011
Florida’s existing home and existing condo
sales rose in March, according to the latest housing data
released by Florida Realtors®.
Existing home sales increased 12 percent last
month with a total of 18,522 homes sold statewide compared
to 16,540 homes sold in March 2010, according to Florida
Realtors. Statewide sales of existing condos last month rose
24 percent compared to the year-ago sales figure.
Seventeen of Florida’s metropolitan
statistical areas (MSAs) reported higher existing home and
existing condo sales in March; 17 MSAs also had higher condo
sales. It’s the fourth consecutive month that Florida
Realtors has reported higher year-over-year existing home
and existing condo sales statewide.
“A variety of housing opportunities is
available at attractive prices across the state, while
mortgage interest rates remain historically low,” said 2011
Florida Realtors® President Patricia Fitzgerald,
manager/broker-associate with Illustrated Properties in Hobe
Sound and Mariner Sands Country Club in Stuart. “Favorable
conditions like these spark the interest of buyers – who
should consult a local Realtor to find out more about their
local markets.”
Florida’s median sales price for existing
homes last month was $126,300; a year ago, it was $136,000
for a 7 percent decrease. Analysts with the National
Association of Realtors® (NAR) note that 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 February 2011 was $157,000, down 4.2
percent from a year ago, according to NAR. In California,
the statewide median resales price was $271,320 in February;
in Massachusetts, it was $270,000; in New York, it was
$245,000; and in Maryland, it was $208,258.
According to NAR’s latest industry outlook, a
strengthening economy will continue to bolster the housing
market’s slow recovery. “Housing affordability conditions
have been at record levels and the economy has been
improving, but home sales are being constrained by
unnecessarily tight credit,” said NAR Chief Economist
Lawrence Yun.
In Florida’s year-to-year comparison for
condos, 9,703 units sold statewide last month compared to
7,830 units in March 2010 for an increase of 24 percent. The
statewide existing condo median sales price last month was
$84,300; in March 2010 it was $94,800 for an 11 percent
decrease. The national median existing condo sales price was
$150,400 in February 2011, according to NAR.
The interest rate for a 30-year fixed-rate
mortgage averaged 4.84 percent in March, down slightly from
the 4.97 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.
View
March 2011 Home sales
View
March 2011 Condo sales
For more
info visit
www.RealEstateRealityCheck.info
* * * * *
February
12, 2011
Florida's Existing Condo Sales Up in 4Q 2010
Florida Association of REALTORS
Sales of existing condominiums in Florida rose 6
percent in fourth quarter 2010 compared to the same
period a year earlier, according to the latest
housing statistics from Florida Realtors®.
A
total of 17,231 existing condos sold statewide in 4Q
2010; during the same period the year before, a
total of 16,229 units changed hands.
Thirteen of Florida's metropolitan statistical areas
(MSAs) reported higher existing condo sales in the
fourth quarter, according to Florida Realtors. The
statewide existing-condo median sales price was
$86,400 for the three-month period; in 4Q 2009, it
was $105,600 for a decrease of 18 percent. The
statewide existing-condo median price in the fourth
quarter was nearly 2.9 percent higher than it was in
3Q 2010.
Looking at Florida's housing sector in the fourth
quarter, Dr. Sean Snaith, director of the University
of Central Florida's Institute for Economic
Competitiveness, pointed out that the jobs outlook
has a major impact. "Persistently high unemployment
constrains demand and feeds into the ongoing
foreclosure problem," Snaith said.
"Given the state of the labor market, a continuing
decline of home and condo prices in the fourth
quarter is not surprising or unexpected. However,
it's important to note the rate of price decline is
decelerating.
"As
the labor market recovery takes hold in 2011, it
will help put a floor beneath price declines and
ultimately will provide the basis of housing's
recovery."
Meanwhile, in the year-to-year quarterly comparison
for existing single-family home sales, 39,338 homes
sold statewide for the quarter compared to 43,494
homes in 4Q 2009 for a 10 percent decrease. The
statewide existing-home median sales price was
$134,100 in 4Q 2010; a year earlier, it was $140,500
for a decrease of 5 percent.
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, according to the
National Association of Realtors® (NAR). The median
is a typical market price where half the homes sold
for more, half for less.
Optimism has increased slowly but steadily in
Florida real estate markets through the fourth
quarter of 2010, according to the University of
Florida's Bergstrom Center for Real Estate Studies'
latest quarterly survey of real estate trends. The
report surveys economists, industry executives, real
estate scholars, researchers and other experts.
Center Director Timothy Becker noted improvement in
several key categories, including the outlook for
sales in new single-family homes and condominiums,
office occupancy, retail occupancy, land investment
and capital availability. Respondents' expectations
for occupancy and rent increased across every
property type, while the investment outlook rose in
a majority of the property types. The statewide
outlook was the highest since the survey's inception
in 2006, he said.
"Overall, the market appears to be improving and
will continue to improve at a slow pace over the
next year," Becker said.
Low
mortgage rates continued to be available during the
fourth quarter of the year. According to Freddie
Mac, the national commitment rate for a 30-year
conventional fixed-rate mortgage averaged 4.41
percent in 4Q 2010; one year earlier, it averaged
4.92 percent.
View Q4 Home sales
View Q4 Condo sales
For
more info visit
www.RealEstateRealityCheck.info
* * * * *
January
21, 2010
Florida's
Existing Home, Condo
Sales Up in December;
Sales Activity also
Higher at Year End 2010
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.
December 2010 Home Sales
December 2010 Condo
Sales
Year-End 2010 Home Sales
Year-End 2010 Condo
Sales
For more info visit
www.TheGouldingReport.com
* * * * *
December
22, 2010
Florida's Existing
Condo Sales Rise in November 2010
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.
November 2010 Home sales
November 2010 Condo
sales
For more
info visit
www.TheGouldingReport.com
* * * * *
November 23, 2010
Economic Factors Impact Floridas Housing Market in
October 2010
Statewide
year-to-date existing home sales in Florida showed
positive momentum in October: 143,398 single-family
existing homes sold for a 7 percent increase over
the same period a year ago, though uncertainty over
job growth, restrictive credit and foreclosure
issues had a dampening effect on housing activity
last month, according to industry analysts. The
latest housing data released by Florida Realtors®
also reported a 33 percent rise in statewide
year-to-date condominium sales compared to a year
ago, with a total of 59,966 units sold.
In the latest
industry outlook from the National Association of
Realtors® (NAR), Chief Economist Lawrence Yun said
several factors are slowing the housing market’s
recovery, including the recent foreclosure
moratorium. “Nonetheless, there appears to be a
pent-up demand that eventually will be unleashed as
banks resolve their issues with foreclosures and the
labor market improves,” he said. “However, tight
credit and appraisals coming in below a negotiated
price continue to constrain the market.” Yun
called for a gradual rise in home sales as buyers
respond to historically low mortgage interest rates
and favorable affordability conditions.
A total of 5,147
existing condos sold statewide in October compared
to 5,398 units sold during the same month a year
earlier for a decrease of 5 percent. Nine of
Florida’s metropolitan statistical areas (MSAs)
reported higher existing condo sales last month,
according to Florida Realtors. The statewide
existing condo median sales price last month was
$82,400; in October 2009 it was $105,200 for a 22
percent decrease. The national median existing condo
price was $165,400 in September, according to NAR.
Meanwhile, in the
year-to-year comparison for existing home sales, a
total of 11,888 single-family existing homes sold
statewide last month compared to 14,980 homes sold
in October 2009 for a decrease of 21 percent.
Florida’s median existing-home sales price in
October was $136,600; a year earlier, it was
$140,900 for a 3 percent decrease. 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 was $172,600, down 1.9 percent from a
year earlier, NAR reported. In California, the
statewide median resales price was $309,900 in
September; in Massachusetts, it was $295,000; in
Maryland, it was $243,134; and in New York, it was
$229,102.
In October, the
interest rate for a 30-year fixed-rate mortgage
averaged 4.23 percent, significantly lower than the
4.95 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 October 2010 to October 2009 based on
Realtor transactions; the other compares the volume
of existing, condominium sales and median sales
prices in October 2010 to October 2009 based on
Realtor transactions.
View October 2010 Home sales.
View October 2010 Condo sales.
For more info visit
www.RealEstateRealityCheck.info
* *
* * *
November 14, 2010
Sales of Existing Condos
in Florida up 15 percent
in Q3 2010 - Florida
REALTORS®
Sales of existing
condominiums in Florida
rose 15 percent in third
quarter 2010 compared to
the same period a year
earlier, according to
the latest housing
statistics from Florida
Realtors®.
A total of 16,938
existing condos sold
statewide in 3Q 2010;
during the same period
the year before, a total
of 14,793 units changed
hands.
Fourteen of Florida's
metropolitan statistical
areas (MSAs) reported
higher existing condo
sales in the third
quarter, according to
Florida Realtors. The
statewide existing-condo
median sales price was
$84,000 for the
three-month period; in
3Q 2009, it was $106,000
for a decrease of 21
percent.
"A healthy housing
market is built on the
foundation of a robust
economy," said Dr. Sean
Snaith, director of the
University of Central
Florida's Institute for
Economic
Competitiveness. "As the
economic recovery
continues in Florida –
and in particular as the
labor market improves
– the housing market
will follow suit. The
price decline in the
condo market continues
to attract domestic and
foreign buyers to
Florida to take
advantage of this buying
opportunity.
"The third-quarter
single-family and condo
Florida resales data
reflect a slowdown
relative to
second-quarter data as
the expiration of the
first-time homebuyer's
tax credit in April
pulled future demand
into the second
quarter," Snaith said,
adding that the drop-off
was expected.
Meanwhile, in the
year-to-year quarterly
comparison for existing
single-family home
sales, 41,122 homes sold
statewide for the
quarter compared to
44,451 homes in 3Q 2009
for a 7 percent
decrease. The statewide
existing-home median
sales price was $135,200
in 3Q 2010; a year
earlier, it was $145,300
for a decrease of 7
percent. 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, according to the
National Association of
Realtors® (NAR).
The median is a typical
market price where half
the homes sold for more,
half for less.
The University of
Florida's Bergstrom
Center for Real Estate
Studies' latest
quarterly survey of real
estate trends reports
that the jobless rate
remains a top concern
for the future outlook
of the state's real
estate industry. The
survey polls market
research economists,
industry executives,
real estate scholars and
other experts.
Timothy Becker, the
center's director, noted
that investment in real
estate continues to flow
into Florida, though
investors are wary about
the economy. "The
apartment sector is the
stellar performer," he
said, adding that
conditions continue to
improve in the
commercial sector.
"We're starting to see
stabilization across
property types in
occupancy, with
respondents saying they
feel better about what
rents are going to look
like in the near
future."
Low mortgage rates
continued to be
available during the
third quarter of the
year. According to
Freddie Mac, the
national commitment rate
for a 30-year
conventional fixed-rate
mortgage averaged 4.45
percent in 3Q 2010; one
year earlier, it
averaged 5.16 percent.
View Q3 Home sales.
View Q3 Condo sales.
For
more info visit
www.TheGouldingReport.com.
* * * * *
October 25, 2010
Florida's Existing Condo Sales Up in
September 2010 - Florida
REALTORS®
Sales of existing condominiums in Florida rose 10
percent in September, with a total of 5,675 condos
sold statewide compared to 5,140 units sold in
September 2009, according to the latest housing data
released by Florida Realtors®.
Ten
of Florida's metropolitan statistical areas (MSAs)
reported higher existing condo sales in September,
according to Florida Realtors. The statewide
existing condo median sales price last month was
$83,400; in September 2009 it was $102,300 for an 18
percent decrease. However, September's statewide
existing condo median price was 2.2 percent higher
than the statewide existing condo median of $81,600
in August. The national median existing condo price
was $174,000 in August, according to the National
Association of Realtors® (NAR).
Meanwhile, in the year-to-year comparison for
existing home sales, a total of 13,536 single-family
existing homes sold statewide last month compared to
14,781 homes sold in September 2009 for a decrease
of 8 percent. Florida's median existing-home sales
price in September was $133,400; a year earlier, it
was $141,700 for a decrease of 6 percent. The median
is the midpoint; half the homes sold for more, half
for less.
"Like the rest of the nation, Florida's housing
market is feeling pressure from an uncertain
economy," said 2010 Florida Realtors President
Wendell Davis, a broker with Watson Realty Corp. in
Jacksonville. "Easing foreclosures and increasing
job growth would go a long way in stabilizing the
market and strengthening the economic recovery.
However, current record low mortgage rates along
with available and affordable inventory continue to
offer a rare opportunity for consumers who are ready
to buy a home."
The
national median sales price for existing
single-family homes in August was $179,300, up 1.2
percent from a year earlier, according to the
National Association of Realtors® (NAR). In
Massachusetts, the statewide median resales price
was $330,000 in August; in California, it was
$318,660; in Maryland, it was $262,339; and in New
York, it was $240,000.
NAR's latest industry outlook calls for a gradual
improvement in home sales in upcoming months.
"Attractive affordability conditions from very low
mortgage interest rates appear to be bringing buyers
back to the market," said NAR Chief Economist
Lawrence Yun. "However, the pace of a home sales
recovery still depends more on job creation and an
accompanying rise in consumer confidence. The
housing market is trying to recover on its own power
without the homebuyer tax credit."
In
September, the interest rate for a 30-year
fixed-rate mortgage averaged 4.35 percent,
significantly lower than the 5.06 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 September 2010 to September
2009 based on Realtor transactions; the other
compares the volume of existing, condominium sales
and median sales prices in September 2010 to
September 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
67 boards/associations. Florida Realtors® Media
Center website is available at
http://media.floridarealtors.org.
View September 2010 Home sales.
View September 2010 Condo sales.
For
more info visit
www.TheGouldingReport.com.
* * * * *
September 23, 2010
Florida’s Existing Home, Condo Sales Up in
August 2010 - Florida
REALTORS®
Sales of existing homes in Florida rose 1
percent in August, with a total of 13,997 homes sold
statewide compared to 13,908 homes sold in August 2009,
according to the latest housing data released by Florida
Realtors®. Statewide existing home sales in August
increased 3 percent over statewide sales activity in July.
Ten of Florida’s metropolitan statistical
areas (MSAs) reported higher existing home sales last month,
while 13 MSAs posted increased existing condo sales.
Florida’s median sales price for existing homes last month
was $134,000; a year ago, it was $146,500 for a decrease of
9 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 July 2010 was $183,400, up 0.9
percent from a year earlier, according to the National
Association of Realtors® (NAR). In Massachusetts, the
statewide median resales price was $333,000 in May; in
California, it was $314,850; in Maryland, it was $267,489;
and in New York, it was $227,000.
In Florida’s year-to-year comparison for
condos, 5,706 units sold statewide last month compared to
4,662 units in August 2009 for an increase of 22 percent.
Statewide existing condo sales last month increased almost
2.7 percent over July’s condo sales. The statewide
existing condo median sales price in August was $81,600; in
August 2009 it was $107,200 for a 24 percent decrease. The
national median existing condo price was $176,800 in July,
according to NAR.
The housing sector faces a long recovery
process, due in part to slow job growth and the
still-fragile economy, according to NAR’s latest industry
outlook. “Home sales will remain soft in the months ahead,
but improved affordability conditions should help with a
recovery,” said NAR Chief Economist Lawrence Yun. The pace
of sales has slowed since May, following the expiration of
the federal homebuyer tax credit, Yun said, who predicted
this “pause period” likely will last through September.
“However, given rock-bottom mortgage
interest rates and historically high housing affordability
conditions, the pace of a sales recovery could pick up
quickly, provided the economy consistently adds jobs,” he
said.
The interest rate for a 30-year fixed-rate
mortgage averaged 4.43 percent in August, down from the 5.19
percent averaged in August 2009, 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 (available for download
below in PDF format). One chart compares the volume of
existing, single-family home sales and median sales prices
in August 2010 to August 2009 based on Realtor transactions;
the other compares the volume of existing, condominium sales
and median sales prices in August 2010 to August 2009 based
on Realtor transactions.
Click for August 2010 Home sales.
Click for August 2010 Condo sales.
For
more info visit
www.TheGouldingReport.com.
* * * * *
Florida's Existing Condo
Sales Rise in July 2010 - Florida
REALTORS®
Sales of existing condominiums in Florida rose 11
percent in July, with a total of 5,557 condos sold
statewide compared to 4,991 units sold in July 2009,
according to the latest housing data released by
Florida Realtors®.
Eleven of Florida's metropolitan statistical areas (MSAs) reported
higher existing condo sales in July, according to
Florida Realtors. The statewide existing condo
median sales price last month was $87,200; in July
2009 it was $108,500 for a 20 percent decrease. The
national median existing condo price was $181,300 in
June, according to the National Association of
Realtors® (NAR).
Meanwhile, in the year-to-year comparison for existing home sales,
a total of 13,589 single-family existing homes sold
statewide last month compared to 15,762 homes sold
in July 2009 for a decrease of 14 percent. Florida's
median existing-home sales price in July was
$138,000; a year earlier, it was $147,600 for a
decrease of 7 percent. The median is the midpoint;
half the homes sold for more, half for less.
“The homebuyer tax credit expiration added a double dip to what
has already been a harrowing ride in the Florida
housing market,” said Dr. Sean Snaith, director
for the University of Central Florida's Institute
for Economic Competitiveness. “As we move past
this second dip, which is evident in the July data,
the continued recovery of the state's housing market
will be contingent upon the improvement of the
fundamental underpinnings of the housing sector.
“A healthy housing market depends upon a healthy Florida economy,
and in particular, an improving labor market,”
Snaith added. “Job growth and a declining
unemployment rate will help sales continue to grow
while at the same time reducing the number of
foreclosures in Florida.”
2010 Florida Realtors President Wendell Davis, a broker with Watson
Realty Corp. in Jacksonville, noted that the Gulf
oil spill, along with uncertainty over its impact,
has affected the state's housing market.
“Along with many local businesses in the Florida Panhandle and in
other Gulf Coast states, real estate has experienced
significant economic harm following the Deepwater
Horizon drilling rig explosion and oil spill,”
Davis said. “The announcement that a special
allocation from the BP Oil Spill Fund is now
available to help the claims of real estate
professionals' – Realtors and licensees – over
loss of income or sales due to the Gulf oil spill is
a positive action that will help bolster the state's
fragile economy recovery.”
The national median sales price for existing single-family homes in
June 2010 was $184,200, up 1.3 percent from a year
earlier, according to NAR. In Massachusetts, the
statewide median resales price was $331,150 in June;
in California, it was $311,950; in Maryland, it was
$265,268; and in New York, it was $220,750.
More jobs continue to be key to the housing sector's recovery,
according to NAR's latest industry outlook. “There
could be a couple of additional months of slow
home-sales activity before picking up later in the
year, provided the job market continues to
improve,” said NAR Chief Economist Lawrence Yun.
The interest rate for a 30-year fixed-rate mortgage averaged 4.56
percent in July, down from the 5.22 percent averaged
in July 2009, 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
July 2010 to July 2009 based on Realtor
transactions; the other compares the volume of
existing, condominium sales and median sales prices
in July 2010 to July 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 67 boards/associations.
Florida Realtors® Media Center website is available
at http://media.floridarealtors.org.
Click for July 2010 Home sales.
Click for July 2010 Condo sales.
* * * * *
Florida Existing Home &
Condo Sales rise again
in June 2010
Florida Association of
REALTORS
Sales of existing homes in Florida rose 15 percent in June,
marking 22 consecutive months that sales activity has
increased in the year-to-year comparison, according to the
latest housing data released by Florida Realtors®.
A total
of 18,038 single-family existing homes sold statewide last
month compared to 15,732 homes sold in June 2009, according
to Florida Realtors. June’s statewide existing home sales
increased 7.7 percent over statewide sales activity in May.
Meanwhile, last month’s statewide existing-home median
price of $143,400 was 2.1 percent higher than May’s
statewide existing-home median price of $140,400. It marks
the fourth month in a row that the statewide existing-home
median price has increased over the previous month’s
median.
Fifteen
of Florida’s metropolitan statistical areas (MSAs)
reported higher existing home sales in June, while 16 MSAs
posted increased existing condo sales. A majority of the
state’s MSAs have reported increased sales for 24
consecutive months.
Florida’s median sales price for existing homes last month
was $143,400; a year ago, it was $147,700 for a decrease of
3 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 May 2010 was $179,400, up 2.7 percent from a year
earlier, according to the National Association of Realtors®
(NAR). In California, the statewide median resales price was
$324,430 in May; in Massachusetts, it was $299,000; in
Maryland, it was $249,177; and in New York, it was $194,900.
More jobs
are key to the continued recovery of the housing market,
according to NAR’s latest industry outlook. “If jobs
come back as expected, the pace of home sales should pick up
later this year and reach a sustainable level of activity
given very favorable affordability conditions,” said NAR
Chief Economist Lawrence Yun. “We’ll also keep a close
eye on market conditions on the Gulf Coast.”
In
Florida’s year-to-year comparison for condos, 6,916 units
sold statewide last month compared to 5,215 units in June
2009 for an increase of 33 percent. The statewide existing
condo median sales price last month was $95,000; in June
2009 it was $112,800 for a 16 percent decrease. The national
median existing condo price was $181,300 in May, according
to NAR.
The
interest rate for a 30-year fixed-rate mortgage averaged
4.74 percent in June, down from the 5.42 percent averaged
during June 2009, according to Freddie Mac. Florida
Realtors’ sales figures reflect closings, which typically
occur 30 to 90 days after sales contracts are written.
Among the
state’s larger markets, the Tampa-St.
Petersburg-Clearwater MSA reported a total of 3,226 homes
sold in June compared to 2,848 homes a year earlier for a 13
percent increase. The market’s existing home median sales
price was $138,400; a year earlier it was $139,400 for a
decrease of 1 percent. A total of 912 condos sold in the MSA
in June compared to 671 units sold in June 2009 for an
increase of 36 percent. The existing condo median price was
$99,100; a year earlier, it was $113,300 for a decrease of
13 percent.
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 June
2010 to June 2009 based on Realtor transactions; the other
compares the volume of existing, condominium sales and
median sales prices in June 2010 to June 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 67 boards/associations.
Click for June 2010 Home sales.
Click for June 2010 Condo sales.
* * * * *
Florida Existing Home &
Condo Sales Rise in May
'10
Sales of existing homes
in Florida rose 18
percent in May, marking
21 months that sales
activity has increased
in the year-to-year
comparison, according to
the latest housing data
released by Florida
Realtors®.
READ MORE
A total of 16,745
single-family existing
homes sold statewide
last month compared to
14,172 homes sold in May
2009, according to
Florida Realtors. The
statewide existing-home
median price of $140,400
in May was slightly
higher – by $300 –
than April’s statewide
existing-home median
price of $140,100. It
marks the third month in
a row that the statewide
existing-home median
price has increased over
the previous month’s
median.
Across the state, a
variety of housing
opportunities continues
to be available at
attractive prices while
mortgage interest rates
remain historically low,
said 2010 Florida
Realtors President
Wendell Davis, a broker
with Watson Realty Corp.
in Jacksonville.
“Favorable conditions
like this spark
buyers’ interest,”
Davis said. “However,
like the rest of the
world, Floridians are
deeply concerned about
the long-term
ramifications of the
April 20th explosion of
BP’s Deepwater Horizon
oil rig, which killed 11
people and triggered the
oil spill disaster in
the Gulf of Mexico.”
Seventeen of Florida’s
metropolitan statistical
areas (MSAs) reported
higher existing home and
existing condo sales in
May. A majority of the
state’s MSAs have
reported increased sales
for 23 consecutive
months.
Florida’s median sales
price for existing homes
last month was $140,400;
a year ago, it was
$143,800 for a decrease
of 2 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
April 2010 was $173,400,
up 4.5 percent from a
year earlier, according
to the National
Association of
Realtors® (NAR). In
California, the
statewide median resale
price was $306,230 in
April; in Massachusetts,
it was $295,000; in
Maryland, it was
$244,943; and in New
York, it was $197,000.
According to NAR’s
latest industry outlook,
factors such as a return
of buyer confidence,
stabilizing home prices
and an improving economy
are supporting the
market in the federal
homebuyer tax credit’s
wake. “The housing
market has to get back
on its own feet,” said
NAR Chief Economist
Lawrence Yun, “and now
appears to be in a good
position to return to
sustainable levels even
without government
stimulus, provided the
economy continues to add
jobs.”
In Florida’s
year-to-year comparison
for condos, 6,779 units
sold statewide last
month compared to 4,845
units in May 2009 for an
increase of 40 percent.
The statewide existing
condo median sales price
last month was $98,700;
in May 2009 it was
$113,500 for a 13
percent decrease. The
national median existing
condo price was $171,000
in April, according to
NAR.
READ MORE
Interest rates for a
30-year fixed-rate
mortgage averaged 4.89
percent in May, close to
the 4.86 percent
averaged during May
2009, according to
Freddie Mac. Florida
Realtors’ sales
figures reflect
closings, which
typically occur 30 to 90
days after sales
contracts are written.
Among the state’s
larger markets, the West
Palm Beach-Boca Raton
MSA reported a total of
887 homes sold in May
compared to 737 homes a
year earlier for a 20
percent increase. The
market’s existing home
median sales price last
month was $235,200; a
year earlier it was
$232,900 for an increase
of 1 percent. A total of
877 condos sold in the
MSA in May compared to
676 units sold in May
2009 for an increase of
30 percent. The existing
condo median price last
month was $99,600; a
year earlier, it was
$107,500 for a decrease
of 7 percent.
* * * * *
