A total of 45,768 existing single-family homes were sold in Florida in the fourth quarter of 2003, a 12 percent increase compared with the final-quarter figure of 40,901 homes in 2002, according to the Florida Association of Realtors.

The association attributed the results to a strong housing market along with rising consumer spending, exports and business purchases that boosted the economy in Florida and nationwide during the three-month period.

The median sales price in Florida rose 11 percent to $167,700. A year ago the median sales prices was $150,500.

Interest rates below 6 percent for most of the quarter prompted renters to buy their first homes and other homeowners to purchase larger residences, the association said in a statement. The 30-year fixed-rate mortgage averaged 5.92 percent for quarter, according to Freddie Mac.

The Sarasota-Bradenton area reported a double-digit increase in both the number of homes sold and the median sales price for the fourth quarter of 2003. A total of 2,957 homes changed hands compared with 2,127 homes sold during the final quarter of 2002. The median sales price rose 22 percent to $204,100. It was $167,600 in fourth quarter 2002.

The West Palm Beach-Boca Raton area reported 3,897 homes sold in the fourth quarter, an 11 percent quarter-over-quarter gain. The market’s median sales price was $253,000 for the quarter, a 19 percent gain over the final quarter of 2002.

The Florida Realtor association has 100,000 members.


Send a Letter to the Editor for publication.
Send a comment or news tip to our newsroom.
Please include the headline of the story.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
We've updated our terms of use.Read them here×