Industry News

East Coast real estate markets post mixed results

Sales soften in Bay State, sizzle in Sunshine State
Published on Jan 27, 2005

Home sales across Florida and Virginia continued to climb through year-end 2004, while Massachusetts sales began to slow in December, according to the Realtor associations in those states. Florida's housing market registered a record year in 2004 in terms of closings and median price for sales of existing single-family homes statewide. By year's end, Florida came close to reaching the 250,000 mark for annual sales, according to the Florida Association of Realtors, with a total of 242,234 homes sold – an 11 percent increase over the 218,739 homes sold the year before. Buyers' demand for existing single- family homes in Florida continued to rise in December, pushing the statewide median sales price 22 percent higher to $195,900; a year ago, it was $160,600, according to the association. The median is the midpoint, which is a typical market price where half of the homes sold for more and half sold for less. For December, a total of 20,684 homes changed hands, compared to 20,405...

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