Industry News

Florida real estate sales heat up

Median home price climbs to $162,300 in February

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A total of 16,127 single-family existing homes changed hands in Florida last month for an 18 percent increase over the 13,642 homes sold a year ago, according to the Florida Association of Realtors. The statewide median sales price rose 13 percent to $162,300 last month; a year ago, it was $143,400. In 1999, the statewide median sales price was $100,200, which shows an increase of 62 percent over the five-year period, according to FAR records. The median is a typical market price where half the homes sold for more, half for less. Florida's median sales price compares favorably to the national median sales price for existing single-family homes, which was $168,700 in January, up 5.4 percent from the previous January. In California, the statewide median resales price was $405,720 in January; in New York, it was $239,900; in North Carolina, the average resales price was $181,477; in Illinois, the median price was $166,200; and in Ohio, the average price for an existing home last month...