Florida Home Sales And Prices Up In May

Posted by Orb Staff on June 22, 2012 No Comments
Categories : Residential Mortgage

11851_florida Florida Home Sales And Prices Up In May Pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped in Florida's housing market in May, according to the latest housing data released by Florida Realtors.

Florida Realtors reports that the statewide median sales price for single-family existing homes in May was $147,000, up 8.9% from a year ago, while the statewide median for townhome-condo properties was $112,000, up 14.3% over May 2011.

Statewide sales of existing single-family homes totaled 18,723 in May, up 7.2% compared to the year-ago figure. Looking at Florida's year-to-year comparison for sales of townhomes/condos, a total of 9,995 units sold statewide last month, up 5.4% from those sold in May 2011.

Last month, the inventory for both single-family homes and for townhome-condo properties stood at a 5.5-month supply, according to Florida Realtors.

‘Some very positive trends have been developing in the Florida market, and the May numbers indicate those trends are continuing,’ says Florida Realtors Chief Economist Dr. John Tuccillo. ‘Closed sales, pending sales and prices – both average and median – are strongly above where they were a year ago. In fact, average prices have increased in 11 of the past 12 months.’

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