Despite the impact of four hurricanes, Florida’s existing-home prices reached new highs in 2004, the Florida Association of Realtors reported Friday.
In November, the latest data available, the statewide median sales price reached $192,400 for the year-to-date – a 22 percent increase over the same period last year.
Looking back to November 1999, Florida’s median sales price at that time was $103,200, translating to an 86.4 percent gain over the five-year period. Since January 2004, the statewide median sales price has shown double-digit gains each month, according to FAR records.
In November, the Naples MSA reported the highest median sales price, $369,900, while the Ocala MSA had the lowest median price at $113,000. Realtors across the state report tight inventories, particularly for residences priced under $200,000.
In 2005, the National Association of Realtors expects the U.S. median existing-home price to rise 5 percent and the typical new-home price to grow by 5.8 percent.
The Florida Association of Realtors provides programs, services, continuing education, research and legislative representation to its 120,000 members in 70 boards/associations.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
