Industry News

East Coast real estate markets post gains

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Home sales and prices in Florida, North Carolina and Virginia grew considerably in July from their year-ago levels, according to Realtor associations in those states. Sales of existing single-family homes in Florida jumped 15 percent above the previous-year mark, according to the Florida Association of Realtors. Statewide, a total of 23,554 homes sold last month, compared to 20,503 homes in July 2003. In another sign of Florida's robust housing market, the statewide median sales price also rose 15 percent to $186,700; a year ago, it was $162,600. In July 1999, the statewide median sales price for existing single-family homes was $101,800, representing an increase of about 83.4 percent over the five- year period, FAR records show. Among the state's larger metropolitan statistical areas (MSAs), Jacksonville reported a 38 percent increase in resale activity last month, with a total of 1,536 homes changing hands, compared to 1,113 homes sold a year ago. The area's median sales price rose ...