Marie Pimm, PA Realtor - Bonita Springs, Estero and Naples, Fl

Did you know this about the Florida Real Estate Market?

The following is an excerpt from my September Newsletter.

Many Florida Realtors® statewide noted positive movement in their local housing markets in June, with an upswing in the statewide median price reported for both existing home sales and condominium sales over May 2008, according to the latest housing statistics released by the Florida Association of Realtors® (FAR).

• The statewide existing-home median price in June was $205,500 - up 1 percent from May’s median price of $203,300.
  
• The median price of an existing condo in July was $183,700 -also up 1 percent from May’s figure of $181,800.
  
•  In the year-to-year comparison, a total of 11,700 existing homes sold statewide last month while 12,276 homes sold in June 2007 for a decrease of 5 percent, according to FAR.
  
• Florida’s median sales price for existing homes last month was $205,500; a year ago, it was $244,400 for a 16 percent decrease. But, looking back to June 2003, the statewide median sales price for single-family homes has increased 26.9 percent over the five-year-period, according to FAR records – at that time, the statewide existing-home median price was $161,900. The median is the midpoint; half the homes sold for more, half for less.
  
• In a year-to-year comparison for condos, 3,628 units sold statewide compared to 3,851 in June 2007 for a 6 percent decline. The statewide existing-condo median sales price last month was $183,700; in June 2007 it was $212,400 for a 14 percent decrease.
  
• Marco Island seems to be leading the recovery according to data released by FAR, University of Florida:

 *1st Q. 2008 — Condo sales up 30% compared to 2007; Single family homes sales up 27%.
 *April 2008 — Condo sales up 51% compared to 2007
 *Single family homes sales up 29%.