Florida’s housing market picked up the pace in November, shaking off lingering effects from the four hurricanes that pummeled the state over a six-week period in August and September. Last month, a total of 17,116 existing single-family homes were sold statewide for a 9 percent increase over last year’s sales activity of 15,757 homes, according to the Florida Association of Realtors.
The statewide median sales price rose 22 percent in November to $192,400, up from $157,400 a year ago. In November 1999, the statewide median sales price was $103,200, translating to a gain of 86.4 percent over the five-year period. The median is the midpoint, which is a typical market price where half of the homes sold for more and half for less.
Florida’s median sales price is similar to last month’s national median sales price for existing single-family homes, which was $187,000 in October – an 8.8 percent increase over last year.
Among the state’s larger metropolitan statistical areas, the Jacksonville area reported higher figures in both sales and median price last month, with a total of 1,190 existing single-family homes changing hands for a 30 percent increase over the 915 homes sold last year. The market’s median sales price increased 18 percent to $162,600, up from $137,900 a year ago.
Other larger markets reporting higher sales in November include: Orlando, where 2,600 homes sold for an 8 percent gain; and Tampa-St. Petersburg- Clearwater, where 3,276 homes changed hands for a 4 percent increase. The median sales price also rose 20 percent in both markets: reaching $175,400 in Orlando; and $167,100 in Tampa-St. Petersburg-Clearwater.
Among the state’s smaller metro areas, Tallahassee had a dramatic 40 percent increase in home sales last month, with a total of 296 homes sold compared to 211 homes sold last year. The area’s median sales price rose 16 percent over the same period to $160,600; a year ago, it was $138,100.
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