Industry News

Florida real estate sales rise

Median price of homes climbs 22% in November

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

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 ...