RSS Blog FeedFlorida Median Home Price Increased Slightly in July
By Leanne Paynter | 2:32 PM on Aug. 23, 2006 | Florida Real Estate Blog
In July 2001, the statewide median sales price was $132,000, representing an increase of about 90 percent over the five-year period, according to FAR records. The median is a typical market price where half the homes sold for more, half sold for less.Nationally, the median sales price for existing single-family homes was $231,500 in June, up 1.1 percent from a year earlier, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $575,800 in June; in Massachusetts, it was $370,000; in Maryland, it was $320,750; and in New York, it was $279,000.
Over the past few months, home sales in the U.S. have held to a narrow range -- a sign that the U.S. housing market is stabilizing, according to NAR housing industry analysts. Sales overall remain historically strong, NAR notes, with 2006 projected to be the third strongest sales year on record.
Looking to Florida's existing condominium market, sales of existing condos also decreased in July, with a total of 4,260 condos sold statewide compared to 6,739 in July 2005 for a 37 percent decrease, according to FAR. The statewide median sales price for condos last month was $210,200; a year ago, it was $211,900 for a 1 percent decrease. The national median existing condo price in June 2006 was $226,900.
According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage was 6.76 percent last month, up from 5.70 percent in July 2005. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Of the state’s smaller markets, the Ocala MSA reported a total of 525 existing homes sold in July compared to 528 homes sold a year earlier for a 1 percent decline. The area’s median existing home sales price rose 20 percent to $177,200; a year ago, it was $147,400.
Charts showing statistics for Florida and its 20 MSAs are attached. One chart compares the volume of existing, single-family home sales and median sales prices in July 2006 to July 2005, based on Realtor transactions within the MSAs. The other chart compares the volume of existing condo sales and median sales prices in July 2006 to July 2005, based on Realtor transactions within the MSAs.
[ Single-Family PDF HTML ] [ Condominium PDF HTML ]
The Florida Association of Realtors (FAR), the voice for real estate in Florida, provides programs, services, continuing education, research and legislative representation to its nearly 155,000 members in 68 boards/associations.
© 2006 FLORIDA ASSOCIATION OF REALTORS®
Over the past few months, home sales in the U.S. have held to a narrow range -- a sign that the U.S. housing market is stabilizing, according to NAR housing industry analysts. Sales overall remain historically strong, NAR notes, with 2006 projected to be the third strongest sales year on record.
Looking to Florida's existing condominium market, sales of existing condos also decreased in July, with a total of 4,260 condos sold statewide compared to 6,739 in July 2005 for a 37 percent decrease, according to FAR. The statewide median sales price for condos last month was $210,200; a year ago, it was $211,900 for a 1 percent decrease. The national median existing condo price in June 2006 was $226,900.
According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage was 6.76 percent last month, up from 5.70 percent in July 2005. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Of the state’s smaller markets, the Ocala MSA reported a total of 525 existing homes sold in July compared to 528 homes sold a year earlier for a 1 percent decline. The area’s median existing home sales price rose 20 percent to $177,200; a year ago, it was $147,400.
Charts showing statistics for Florida and its 20 MSAs are attached. One chart compares the volume of existing, single-family home sales and median sales prices in July 2006 to July 2005, based on Realtor transactions within the MSAs. The other chart compares the volume of existing condo sales and median sales prices in July 2006 to July 2005, based on Realtor transactions within the MSAs.
[ Single-Family PDF HTML ] [ Condominium PDF HTML ]
The Florida Association of Realtors (FAR), the voice for real estate in Florida, provides programs, services, continuing education, research and legislative representation to its nearly 155,000 members in 68 boards/associations.
© 2006 FLORIDA ASSOCIATION OF REALTORS®
Find more articles tagged with: Florida Median Home Price, Florida Real Estate Market, Florida Real Estate News
|| 0 comments || add comment || Permanent Link || All Rights Reserved.