According to the latest Florida housing statistics released by the Florida Association of Realtors, Florida Realtors statewide reported slight gains in existing home and condominium sales from February to March 2008. A total of 9,142 existing single-family homes changed hands in March which was a 10% increase over the previous month when 8,310 were homes sold. With 3,145 units sold in March compared with 2,765 condos in February, existing Florida condo sales statewide rose 13.7%.
During the one-month period, the median price for both housing types increased slightly as well. The median price of an existing single-family home reached $205,600 in March, compared with $198,900 the previous month. The median price of an existing condo rose to from $175,600 in February to $176,600 in March.
According to FAR, a total of 9,142 existing homes sold statewide last month while 12,356 homes sold in March 2007 for a decrease of 26%, in the year-to-year comparison. Florida's median sales price for existing homes last month was $205,600; a year ago, it was $242,800 for a 15 % decrease. According to FAR records, looking back to March 2003, the statewide median sales price for single-family homes has increased about 35.5%. At that time, the statewide existing-home median price was $151,700. The median is the midpoint and half the homes sold for more.
In a year-to-year comparison for condos, compared to 4,153 in March 2007, 3,145 units sold statewide for a 24% decline. The statewide existing-condo median sales price last month was $176,600; in March 2007 it was $221,200 for a 20% decrease. NAR reported the national median existing condo price was $211,700 in February 2008.
According to NAR, in February 2008, the national median sales price for existing single-family homes was $193,900 which was down 8.7% from a year earlier. In California, the statewide median sales price was $409,240 in February; in Massachusetts, it was $310,000; in Maryland, it was $284,822; and in New York, it was $230,000.
Existing Florida Condo Sales |
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Realtor Sales |
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Median Sales Price |
| Statewide & Metropolitan Statistical Areas |
March 2008 |
March 2007 |
% Change |
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March 2008 |
March 2007 |
% Change |
| Statewide * (1) |
3.145 |
4.153 |
24% |
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$176.600 |
$221.200 |
20% |
| Statewide Yr-to-Date |
8.176 |
11.077 |
26% |
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$179.500 |
$216.700 |
17% |
| Daytona Beach |
71 |
101 |
30% |
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$190.000 |
$217.900 |
13% |
| Ft. Lauderdale |
611 |
663 |
8% |
|
$137.000 |
$195.500 |
30% |
| Ft. Myers-Cape Coral |
231 |
221 |
6% |
|
$196.400 |
$250.800 |
22% |
| Ft. Pierce-Port St. Lucie |
69 |
87 |
21% |
|
$182.500 |
$202.300 |
10% |
| Fort Walton Beach |
59 |
140 |
58% |
|
$383.300 |
$411.100 |
7% |
| Gainsville |
66 |
68 |
3% |
|
$135.000 |
$162.000 |
17% |
| Jacksonville |
101 |
176 |
43% |
|
$152.700 |
$157.600 |
3% |
| Lakeland-Winter Haven |
10 |
13 |
23% |
|
$86.700 |
$156.700 |
45% |
| Melbourne-Palm Bay |
29 |
125 |
77% |
|
$150.000 |
$167.500 |
10% |
| Miami |
333 |
624 |
47% |
|
$263.900 |
$295.100 |
11% |
| Marco Island (2) |
37 |
41 |
10% |
|
$470.000 |
$502.400 |
6% |
| Ocala |
5 |
13 |
62% |
|
$65.000 |
$112.500 |
42% |
| Orllando |
104 |
259 |
60% |
|
$130.800 |
$163.500 |
20% |
| Panama City |
44 |
69 |
36% |
|
$300.000 |
$330.000 |
9% |
| Pensecola |
34 |
36 |
6% |
|
$160.000 |
$124.000 |
29% |
| Punta Gorda |
42 |
43 |
2% |
|
$128.000 |
$133.800 |
4% |
| Sarasota-Bradenton |
313 |
378 |
17% |
|
$188.900 |
$276.200 |
32% |
| Tallahassee |
19 |
29 |
34% |
|
$152.500 |
$150.000 |
2% |
| Tampa-Clearwater (3) |
107 |
153 |
30% |
|
$141.300 |
$141.300 |
16% |
| West Palm Beach-Boca Raton |
592 |
650 |
9% |
|
$148.600 |
$148.600 |
30% |
| (1) *Statewide figure includes data from the Naples Board of Realtors. |
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| (2) Data is only from the Marco Island Association of Realtors. |
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| (3) Data from the Pinellas Suncoast Association of Realtors and West Pasco |
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| Board of Realtors was not available. |
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| This information is based on a survey of MLS sales levels from |
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| Florida's Realtor boards/associations. MSAs are defined by the 2000 Census. |
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| Source: Florida Association of Realtors and the University of Florida |
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| Bergstrom Center for Real Estate Studies. |
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Contributed by MLR Realty
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