Tag Archives: Florida Realtors

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by Janie Coffey
by Janie Coffey

Real estate in Florida is encountering an upswing. According to Florida Realtors® data, October witnessed a higher inventory, greater median prices and more closed sales.

This is not just specific to Florida however. Indeed, as Sherri Meadows, President of Florida Realtors® and Keller Williams, the firm’s CEO and team leader pointed out:

“October marks the 35th month in a row that statewide median sales prices rose year-over-year for both single-family homes and townhouse-condo properties. The state’s housing market continues to benefit from more people moving to Florida, a steadily improving jobs outlook and growing economy.”

As well, in other news, a different report by Interest.com found that the South Florida market is one of the “least affordable in the nation.” The study investigated the 25 largest metro markets and South Florida came in very close to the bottom, at 21. It was found that a South Florida home had a $270,000 median price. That, taken with high insurance and property taxes, made the prospect of purchasing a home very challenging for many working families.

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While we have already seen that it looks like 2012 is going to be a good year for the Florida housing market, figures coming in from last year are indicating that 2011 showed the state was recovering from its housing recession too. Indeed, looking at the figures it seems that compared to 2010, there was an 8 percent increase in Florida housing sales in 2011.

In addition, according to figures released from Florida Realtors, over the last few years, there has been a steady escalation in housing sales in Florida, since this latest increase marks the third time in three years that there has been growth.

However, looking at December 2011, it seems that there was a small plummet (of 2 percent) from figures for the year earlier. Again though, it was emphasized that recovery in Florida’s housing market will continue throughout this year.