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.
MHB says
UPDATE
Florida is also leading the nation in Mortgage fraud.
Reported incidents of mortgage fraud jumped 42 percent nationwide, with Florida reporting the highest number of cases, according to industry data released Monday.
lol says
This is just South Florida. If you were to mention Central and North Florida you’d get some shockingly confirming numbers that the real estate market is completely in dire straits.
Damir says
it is nice to know that in some parts of USA the housing market is getting back up