Published: January 20, 2012
Florida's Housing Sales Activity Higher as 2011 Ends; Home, Condo Median Prices Up in December
ORLANDO, Fla., Jan. 20, 2012 /PRNewswire/ -- At the close of 2011, Florida's existing home and condominium markets reported higher sales compared to the previous year, according to the latest housing data released by Florida Realtors®. It was the third consecutive year for statewide home and condo sales activity to end the year on a positive upswing - higher year-over-year sales also were reported at the close of 2010 and 2009, records show.
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Looking back on 2011, Florida's existing home sales rose 8 percent for the year, with a total of 185,921 homes sold compared to 172,462 homes sold in 2010. The statewide existing home median price for 2011 was $131,700; it was $135,900 in 2010 for a 3 percent decrease. In Florida's condo market, a total of 87,581 units sold statewide in 2011, a gain of 15 percent compared to 76,209 units sold in 2010. The statewide existing condo median price in 2011 was $88,300; it was $90,000 in 2010 for a 2 percent decrease.
Sixteen of Florida's metropolitan statistical areas (MSAs) reported higher existing home sales at the close of 2011 compared to 2010; the same number of MSAs also reported higher existing condos sales.
"Florida's economy is continuing to strengthen, which is good news," said 2012 Florida Realtors® President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. "Many people are hoping to take advantage of the current record low mortgage rates and affordable conditions to find their Florida dream home - but overly restrictive lending requirements continue to create barriers to homeownership for qualified homebuyers. To re-energize the housing market and the economic recovery, we need improved access to affordable financing options for qualified buyers and investors."
In December, a total of 15,290 existing single-family homes sold statewide, a decrease of 2 percent from the 15,546 homes sold in December 2010. The statewide existing home median sales price last month was $134,300, up 1 percent from the $133,000 reported in December 2010, according to Florida Realtors' data. The national median existing single-family home price was $165,100 in December, according to the National Association of Realtors® (NAR). The median is the midpoint; half the homes sold for more, half for less.
In the year-to-year comparison for statewide existing condo sales, a total of 6,836 units changed hands last month, compared to 6,985 condos sold in December 2010 for a decrease of 2 percent. The statewide existing condo median sales price in December was $91,900, up 4 percent from the $88,400 reported a year earlier. The national median existing condo price was $160,000 in December, according to NAR.
"Although sales were down slightly in December, they're up strongly for the year, which reinforces the reality that Florida is in a slow real estate recovery," said Florida Realtors Chief Economist Dr. John Tuccillo. "Our expectation is that recovery will continue through 2012. The major obstacle in the market is the inadequate accessibility to financing. Prices are moderating, but we don't expect too much movement owing to the continuing significance of distressed properties."
In December, the interest rate for a 30-year fixed-rate mortgage averaged 3.96 percent, down from the 4.71 percent average during the same month a year earlier, according to Freddie Mac. The annual average rate for a 30-year mortgage in 2011 was 4.45 percent. Florida Realtors' sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Several 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 December 2011 to December 2010 based on Realtor transactions; another compares the volume of existing, condominium sales and median sales prices in December 2011 to December 2010 based on Realtor transactions; also included are charts showing the same information for the year end 2011 compared to year end 2010.
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 63 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 - December 2011
Single-Family, Existing Homes
Realtor Sales Median Sales Price
Statewide &
Metropolitan
Statistical
Areas (MSAs) December December % December December %
2011 2010 Chge 2011 2010 Chge
STATEWIDE* (1) 15,290 15,546 -2 $134,300 $133,000 1
Daytona Beach 764 723 6 $108,000 $109,700 -2
Fort Lauderdale
(2) 1,082 996 9 $189,600 $177,300 7
Fort Myers-Cape
Coral (3) 977 1,298 -25 $123,400 $90,700 36
Fort Pierce-Port
St. Lucie 500 476 5 $112,500 $111,100 1
Fort Walton Beach 251 251 - $169,400 $193,100 -12
Gainesville 186 181 3 $140,000 $142,500 -2
Jacksonville (4) 1,168 1,099 6 $123,200 $131,100 -6
Lakeland-Winter
Haven 278 296 -6 $91,400 $103,200 -11
Melbourne-
Titusville-Palm
Bay 550 577 -5 $99,700 $108,200 -8
Miami 849 734 16 $182,300 $173,600 5
Ocala 338 300 13 $81,200 $82,200 -1
Orlando 2,233 2,378 -6 $127,800 $125,200 2
Panama City 112 139 -19 $146,200 $141,400 3
Pensacola 339 333 2 $128,200 $140,800 -9
Punta Gorda 258 264 -2 $97,500 $88,400 10
Sarasota-
Bradenton 909 945 -4 $154,400 $156,800 -2
Tallahassee 147 171 -14 $154,400 $175,300 -12
Tampa-St.
Petersburg-
Clearwater (5) 2,422 2,571 -6 $125,400 $129,300 -3
West Palm Beach-
Boca Raton 1,031 929 11 $192,800 $212,900 -9
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island Association of Realtors.
(2) Includes data from all associations in the market area.
(3) Data from the Sanibel & Captiva Islands Association was not available.
(4) Data from St. Augustine-St. Johns County Board of Realtors was not available.
(5) Data from the Hernando County Association of Realtors was not available.
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 - December 2011
Existing Condominiums
Realtor Sales Median Sales Price
Statewide &
Metropolitan
Statistical
Areas (MSAs) December December % December December %
2011 2010 Chge 2011 2010 Chge
STATEWIDE* (1) 6,836 6,985 -2 $91,900 $88,400 4
Daytona Beach 157 137 15 $115,000 $111,000 4
Fort Lauderdale
(2) 1,288 1,398 -8 $78,200 $80,600 -3
Fort Myers-Cape
Coral (3) 350 409 -14 $121,900 $124,700 -2
Fort Pierce-Port
St. Lucie 137 109 26 $91,300 $75,800 20
Fort Walton Beach 128 117 9 $209,500 $213,800 -2
Gainesville 39 36 8 $69,000 $88,000 -22
Jacksonville (4) 131 158 -17 $64,100 $72,300 -11
Lakeland-Winter
Haven 21 25 -16 $56,300 $51,000 10
Melbourne-
Titusville-Palm
Bay 133 169 -21 $86,100 $95,800 -10
Miami 1,200 985 22 $129,900 $99,100 31
Ocala 6 4 50 $40,000 $50,000 -20
Orlando 475 670 -29 $59,600 $50,500 18
Panama City 71 77 -8 $203,800 $178,900 14
Pensacola 49 48 2 $237,500 $133,300 78
Punta Gorda 40 48 -17 $106,700 $96,000 11
Sarasota-
Bradenton 310 326 -5 $116,800 $132,400 -12
Tallahassee 10 11 -9 $70,000 $87,500 -20
Tampa-St.
Petersburg-
Clearwater (5) 842 962 -12 $78,800 $84,100 -6
West Palm Beach-
Boca Raton 1,035 963 7 $73,000 $82,600 -12
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island Association of Realtors.
(2) Includes data from all associations in the market area.
(3) Data from the Sanibel & Captiva Islands Association was not available.
(4) Data from St. Augustine-St. Johns County Board of Realtors was not available.
(5) Data from the Hernando County Association of Realtors was not available.
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 - Year End 2011
Single-Family, Existing Homes
Realtor Sales Median Sales Price
Statewide &
Metropolitan
Statistical
Areas (MSAs) Year End Year End % Year End Year End %
2011 2010 Chge 2011 2010 Chge
STATEWIDE* (1) 185,921 172,462 8 $131,700 $135,900 -3
Daytona Beach 9,010 8,488 6 $110,400 $119,100 -7
Fort Lauderdale
(2) 12,817 11,548 11 $186,000 $179,200 4
Fort Myers-Cape
Coral (3) 14,134 15,148 -7 $107,100 $93,400 15
Fort Pierce-Port
St. Lucie 5,599 5,957 -6 $108,200 $108,500 -
Fort Walton Beach 3,215 2,748 17 $180,200 $188,000 -4
Gainesville 1,976 1,970 - $148,500 $161,700 -8
Jacksonville (4) 13,807 13,092 5 $131,200 $140,700 -7
Lakeland-Winter
Haven 3,562 3,541 1 $93,400 $101,500 -8
Melbourne-
Titusville-Palm
Bay 6,908 6,110 13 $102,200 $105,900 -3
Miami 9,920 7,308 36 $172,700 $189,400 -9
Ocala 3,831 3,574 7 $79,500 $87,900 -10
Orlando 27,400 26,808 2 $125,200 $131,400 -5
Panama City 1,364 1,209 13 $142,300 $156,400 -9
Pensacola 3,916 3,497 12 $134,600 $141,000 -5
Punta Gorda 3,231 3,063 5 $97,500 $99,900 -2
Sarasota-
Bradenton 10,901 10,102 8 $152,000 $158,000 -4
Tallahassee 1,992 1,855 7 $160,200 $169,300 -5
Tampa-St.
Petersburg-
Clearwater (5) 30,425 28,773 6 $120,600 $132,900 -9
West Palm Beach-
Boca Raton 11,900 9,584 24 $193,700 $228,900 -15
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island Association of
Realtors.
(2) Includes data from all associations in the market area.
(3) Data for October-December from the Sanibel & Captiva Islands Association was not available.
(4) Data for October-December from St. Augustine-St. Johns County Board of Realtors was not available.
(5) Data for August-December from the Hernando County Association of Realtors was not available.
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 - Year End 2011
Existing Condominiums
Realtor Sales Median Sales Price
Statewide &
Metropolitan
Statistical
Areas (MSAs) Year End Year End % Year End Year End %
2011 2010 Chge 2011 2010 Chge
STATEWIDE* (1) 87,581 76,209 15 $88,300 $90,000 -2
Daytona Beach 1,953 1,857 5 $131,900 $123,000 7
Fort Lauderdale
(2) 16,714 15,049 11 $74,800 $70,800 6
Fort Myers-Cape
Coral (3) 4,966 4,674 6 $128,400 $122,600 5
Fort Pierce-Port
St. Lucie 1,319 1,339 -1 $85,600 $80,500 6
Fort Walton Beach 1,492 1,115 34 $208,200 $231,900 -10
Gainesville 469 391 20 $69,900 $91,400 -24
Jacksonville (4) 2,375 2,183 9 $72,800 $75,800 -4
Lakeland-Winter
Haven 296 289 2 $53,000 $57,800 -8
Melbourne-
Titusville-Palm
Bay 1,846 1,604 15 $93,400 $98,500 -5
Miami 15,009 9,760 54 $113,800 $117,000 -3
Ocala 92 76 21 $38,200 $40,000 -5
Orlando 6,779 8,563 -21 $56,200 $50,400 12
Panama City 922 704 31 $167,600 $180,000 -7
Pensacola 691 494 40 $188,800 $171,900 10
Punta Gorda 604 543 11 $75,600 $93,500 -19
Sarasota-
Bradenton 3,772 3,514 7 $127,000 $138,800 -9
Tallahassee 136 154 -12 $71,100 $88,100 -19
Tampa-St.
Petersburg-
Clearwater (5) 10,577 9,712 9 $75,200 $91,200 -18
West Palm Beach-
Boca Raton 13,124 10,100 30 $77,500 $90,000 -14
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island Association of
Realtors.
(2) Includes data from all associations in the market area.
(3) Data for October-December from the Sanibel & Captiva Islands Association was not available.
(4) Data for October-December from St. Augustine-St. Johns County Board of Realtors was not available.
(5) Data for August-December from the Hernando County Association of Realtors was not available.
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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