Florida Housing: Sales Up, Prices Down

According to the Florida Association of Realtors, for the first time in two years, single-family home sales rose last month  . However, median sales prices continued to decline.

Ft Lauderdale reported 581 existing home sales, down slightly from last year’s 559 sales. The median sales price fell 19%, to $303,600 from $373,700.

Miami saw just 392 existing homes sold in July, a 22 percent drop from 505 home sales during the same period last year. The median sale prices declined to $322,700 from $377,400.

West Palm Beach/Boca Raton reported 652 homes sold in July compared with 605 homes a year ago, an 8%  increase. Median prices, however, were down to $291,300 from $372,200, a 22% drop.

Fort Myers-Cape Coral, saw a jump in home sales up 80%, to 768 from 426. But prices plunged 37% to $154,900 from $246,100.

Fort Pierce-Port St. Lucie, home sales grew 12%, to 415 from 371. Prices dropped 31%, to $159,300 from $231,300.

In Melbourne-Titusville-Palm Bay, home sales nudged up 4 percent, to 478 from 458. Prices were down 22%  to $152,600 from $195,800.

On Marco Island, home sales were up to 31 from 26, a 19 percent increase. Prices were down 14 percent, to $462,500 from $540,900.

In Punta Gorda, home sales increased 8%, to 200 from 185. Prices dropped 21%, to $141,800 from $179,600.

Statewide, 11,498 existing homes sold last month, while 11,492 homes sold during the same month last year.

Median sales price for existing homes last month was $193,600, compared with $238,900 a year ago – a 19% drop.

Nationwide, existing home sales jumped by 3.1 percent in July

The median price for a home sold in July dropped to $212,000, down by 7.1 percent a year ago

Condo’s didn’t do any better

In Fort Lauderdale, sales dipped 1% percent, to 559 from 562, as the median sales price dropped 26% to $138,300 from $187,200.

In Miami, condo sales fell 22%, to 395 from 509. Median prices were down 19 percent, to $230,700 from $285,800.

West Palm Beach/Boca Raton market , was the strongest, where condo sales increased 16 percent, to 510 from 440. Median prices were down only 15%, to $152,300 from $178,200.

Statewide, 3,375 units sold in July, compared with 3,641 in July 2007. The median sales price of condos dropped 13%, to $168,500 from $194,100.