Industry News

Real estate business booming in Florida

Price gains overtake sales increases

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The median price for existing single-family homes in Florida continued to rise in December and home sales in 2005 increased 2 percent over the previous years, according to the Florida Association of Realtors. The median price for existing single-family homes in Florida continued to rise in December, reaching $247,000 -- an increase of 27 percent compared to the statewide median price of $194,000 in December 2004, according to FAR. In December 2000, the statewide median sales price was $116,200, which is an increase of 112.5 percent over the five-year period, according to FAR records. The median is the midpoint, which is a typical market price where half of the homes sold for more and half for less. The national median sales price for existing single-family homes was $213,500 in November, which was 13.5 percent higher than November 2004, according to the National Association of Realtors. In California, the statewide median price in November was $548,400; in Maryland, it was $302,822;...