Florida’s Existing Home, Condo Sales Rise in June 2010

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Jul 22, 2010, 03:05 ET

ORLANDO, Fla., July 22 /PRNewswire/ -- 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. 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 – June 2010 Single-Family, Existing Homes
	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	June 2010	June 2009	% Chge	June 2010	June 2009	% Chge
STATEWIDE* (1)	18,038	15,732	15	$143,400	$147,700	-3
STATEWIDE-YEAR-TO-DATE	90,388	74,558	21	$138,100	$142,300	-3
Daytona Beach	906	661	37	$125,200	$133,400	-6
Fort Lauderdale	844	862	-2	$209,600	$204,800	2
Fort Myers-Cape Coral	1,501	1,705	-12	$96,600	$87,900	10
Fort Pierce-Port St. Lucie	627	573	9	$112,900	$109,900	3
Fort Walton Beach	262	271	-3	$188,300	$193,400	-3
Gainesville	264	207	28	$171,000	$178,300	-4
Jacksonville	1,500	1,180	27	$147,500	$162,100	-9
Lakeland-Winter Haven	361	307	18	$103,500	$119,800	-14
Melbourne-Titusville-Palm Bay	695	541	28	$114,300	$117,300	-3
Miami	686	680	1	$203,300	$211,400	-4
Ocala	336	311	8	$88,600	$107,800	-18
Orlando	2,752	2,266	21	$138,700	$149,000	-7
Panama City	104	114	-9	$160,000	$195,000	-18
Pensacola	418	362	15	$151,300	$148,500	2
Punta Gorda	311	216	44	$106,600	$145,600	-27
Sarasota-Bradenton	1,068	789	35	$170,400	$162,700	5
Tallahassee	239	212	13	$166,400	$177,200	-6
Tampa-St. Petersburg- Clearwater	3,226	2,848	13	$138,400	$139,400	-1
West Palm Beach-Boca Raton	1,087	859	27	$232,700	$250,300	-7

Florida Sales Report – June 2010 Existing Condominiums
	Realtor Sales			Median Sales Price
Statewide & Metropolitan Statistical Areas (MSAs)	June 2010	June 2009	% Chge	June 2010	June 2009	% Chge
STATEWIDE* (1)	6,916	5,215	33	$95,000	$112,800	-16
STATEWIDE-YEAR-TO-DATE	37,881	24,894	52	$97,500	$110,700	-12
Daytona Beach	202	120	68	$131,700	$166,700	-21
Fort Lauderdale	1,003	933	8	$78,600	$83,900	-6
Fort Myers-Cape Coral	420	378	11	$131,400	$125,300	5
Fort Pierce-Port St. Lucie	162	115	41	$82,500	$110,000	-25
Fort Walton Beach	81	77	5	$209,600	$254,200	-18
Gainesville	60	44	36	$100,000	$115,600	-13
Jacksonville	234	135	73	$77,600	$123,600	-37
Lakeland-Winter Haven	31	14	121	$68,800	$85,000	-19
Melbourne-Titusville-Palm Bay	159	115	38	$109,300	$123,800	-12
Miami	855	645	33	$128,800	$141,000	-9
Ocala	8	10	-20	$43,300	$60,000	-28
Orlando	889	528	68	$52,800	$54,500	-3
Panama City	68	51	33	$173,300	$190,000	-9
Pensacola	42	63	-33	$212,500	$204,200	4
Punta Gorda	48	18	167	$120,000	$140,000	-14
Sarasota-Bradenton	326	213	53	$133,000	$145,800	-9
Tallahassee	13	16	-19	$110,000	$100,000	10
Tampa-St. Petersburg-Clearwater	912	671	36	$99,100	$113,300	-13
West Palm Beach-Boca Raton	1,061	746	42	$94,800	$116,400	-19

*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