Industry News

Florida real-estate sales climb

Median home price reaches $168,400 in March

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Florida home sales soared to new heights in March with a total of 21,610 homes sold statewide for a 29 percent increase over March 2003's sales of 16,725 homes, according to the Florida Association of Realtors. The statewide median price rose 12 percent to $168,400; a year ago, it was $150,400. In March 1999, the statewide median sales price was $101,100, resulting in a 66.5 percent increase over the five-year-period, FAR records show. 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 $168,100 in February, up 5.7 percent from the previous February when it was $159,000. In California, the statewide median resales price was $394,300 in February; in North Carolina, the average resales price was $181,711; in Virginia, the median price was $163,858; in Illinois, it was $155,700; and in Ohio, the average resales price was $139,97...