Industry News

East Coast real estate markets post mixed results

Sales soften in Bay State, sizzle in Sunshine State

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Home sales across Florida and Virginia continued to climb through year-end 2004, while Massachusetts sales began to slow in December, according to the Realtor associations in those states. Florida's housing market registered a record year in 2004 in terms of closings and median price for sales of existing single-family homes statewide. By year's end, Florida came close to reaching the 250,000 mark for annual sales, according to the Florida Association of Realtors, with a total of 242,234 homes sold – an 11 percent increase over the 218,739 homes sold the year before. Buyers' demand for existing single- family homes in Florida continued to rise in December, pushing the statewide median sales price 22 percent higher to $195,900; a year ago, it was $160,600, according to the association. The median is the midpoint, which is a typical market price where half of the homes sold for more and half sold for less. For December, a total of 20,684 homes changed hands, compared to 20,405...