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 6 percent to $159,000; a year ago, it was $149,700.
Sales of existing homes in North Carolina continued their record pace in July, posting a 22 percent increase from sales posted during the same time period a year ago, according to statistics compiled by the North Carolina Association of Realtors. The association reported 11,845 residential units were sold last month, compared to 9,689 units sold in July 2003. The average existing-home sales price was $201,209.
More than 64,000 units have been sold on a year-to-date basis, an increase of 24 percent from sales posted during the first 7 months of 2003. The average sales price increased 6 percent during the same time period to $193,409.
Areas of the state with the strongest year-to-date sales growth and price appreciation continue to be along the coast. Brunswick County leads the way with a 58 percent increase in total sales dollars, followed closely behind by Jacksonville, Wilmington and the Outer Banks.
July’s home sales in Virginia were up 5.7 percent over July 2003’s figures, according to the Virginia Association of Realtors. The association reported 14,139 transactions closed during the month of July, compared to 13,380 from the same time last year.
Year-to-date, closed sales were up 11.1 percent, with 77,167 contracts placed, compared to 69,465 sales year-to-date last year.
Virginia’s median home sales price was $167,500 in July, up 14 percent from July 2003’s $146,500.
The South Central and Southwestern regions of Virginia posted the largest sales gains last month of 78 percent and 48 percent, respectively, from sales recorded during the same month last year. These regions also reported some of the state’s lowest median home prices, with South Central Virginia reporting a median of $85,000 in July and Southwestern Virginia reporting $112,500, according to figures provided by the state Realtor association.
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