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

Dec 22, 2010, 11:05 ET from Florida Realtors

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




  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 – 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




  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.

SOURCE Florida Realtors



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