Industry News

Florida real estate sales bloom

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Sales of single-family existing homes in Florida rose 4 percent in second-quarter 2005 compared to the same time last year, according to the Florida Association of Realtors, with Realtors reporting 74,317 sales, up from 71,724 homes sold in second-quarter 2004. The statewide median sales price for the second quarter rose 29 percent to $233,600; a year ago, it was $180,700, according to FAR. In June, the national median price of an existing single-family home was $218,600, up 14.5 percent from a year ago. The median is a typical market price where half of the units sold for more and half sold for less. Among the state's larger markets, the Miami metropolitan statistical area (MSA) had a total of 3,721 homes sold during second-quarter 2005, compared with 3,702 homes during the same period a year ago for a 1 percent increase. The median sales price rose 29 percent to $351,000; a year ago, it was $271,900. Also reporting robust sales among the state's larger markets during the second quar...