Industry News

Florida real estate sales slow

Prices post hefty gains

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Florida home sales slowed in the fourth quarter, while prices soared into double-digit territory, according to the Florida Association of Realtors. A statewide total of 54,633 existing, single-family homes sold during the fourth quarter, down 2 percent from the 55,748 homes sold during the same quarter in 2003. The statewide median sales price reached $193,200 in the fourth quarter, a 22 percent increase over the median price of $158,900 in fourth quarter 2003, the association reported. For fourth-quarter 1999, the statewide median sales price was $106,700, which marks an increase of 81 percent over the five-year period, FAR records show. As one of the larger Metropolitan Statistical Areas (MSAs) in the state, Tampa-St. Petersburg-Clearwater reported the biggest number of homes sold for the quarter, with a total of 11,215 homes changing hands compared with 10,649 homes sold during the final quarter of 2003, for a 5 percent increase. The median sales price rose 18 percent to $168,5...