Florida
Association of Realtors Announces Home Resales Up 4
Percent For Third Quarter 2000
Wednesday November 8, 10:30 am Eastern
Time
Press Release
SOURCE: Florida Association of Realtors
ORLANDO, Fla., Nov. 8 /PRNewswire/
-- Third quarter 2000 ushered in continued growth in
sales activity for existing single-family homes in
Florida, resulting in a 4 percent increase from July
through September, according to the Florida
Association of Realtors (FAR). In total, 38,889 homes
sold during the third quarter, which was more than
1,500 homes over the statewide total for the same
quarter of 1999.
Statewide, median sales prices of
homes for third quarter 2000 also increased by 8
percent over last year to reach $119,700, compared to
$111,300 in third quarter 1999. For third quarter
1995, the statewide median sales price of existing
single-family homes was $90,500 -- which translates as
a 32 percent jump over the past five years.
The strong economy in Florida
maintained its steady upward track during the quarter.
As the winter season started, more buyers from
Northern states naturally came into the market, but
those were accompanied by more international buyers
from South America as well as buyers from many
European markets, according to real estate industry
watchers.
Interest rates for a 30-year,
fixed-rate mortgage inched up to an average of 8.03
percent for the period. That's up from the 7.80
percent reported during the same quarter in 1999.
FAR's sales figures reflect closings, which typically
occur 30 to 90 days after sales contracts are written.
Among Florida's larger markets, the
Orlando metropolitan statistical area (MSA) posted the
highest number of sales in third quarter 2000. Orlando
reported sales of 5,792 homes, which is a 5 percent
increase over the 1999 third quarter sales, when 5,525
homes were sold. The median sales price of those homes
also rose 6 percent for the same period to $111,200.
Cheryl Grieb, current president of
the Osceola County Association of Realtors (just
outside of Orlando), says she expects the prosperity
to continue. ``I don't see a slowdown for us,'' says
the broker/owner of Olde Kissimmee Realty Inc. and
Pioneer Realty of Kissimmee.
Also reporting increases in home
sales for third quarter 2000 among the larger MSAs
were: Jacksonville and West Palm Beach-Boca Raton,
both 10 percent; Tampa-St. Petersburg-Clearwater, 8
percent; Miami, 5 percent; and Fort Lauderdale, 4
percent.
As for smaller Florida markets, the
Melbourne-Titusville-Palm Bay MSA reported 1,368 homes
sold during third quarter 2000, a 5 percent gain over
the 1,304 homes during the same quarter of 1999. The
median sales price of those homes was also up 7
percent, reaching $97,600 for the period.
Christine Slaughter, president of
the Melbourne Area Association of Realtors and
broker/owner of Palm Bay Realty in Melbourne, says
increased home sales are partially due to an influx of
buyers. ``Across the board, from first-time homebuyers
to move-ups to those interested in second homes...
everybody is saying it's a good [market],'' she says.
During third quarter 2000, sales of
existing single-family homes also rose in the
following MSAs: Fort Pierce-Port St. Lucie, 29
percent; Punta Gorda, 11 percent; and
Sarasota-Bradenton, 4 percent.
A chart showing statistics for
Florida and its 20 MSAs is attached. The chart
compares the volume of existing, single-family home
sales and median sales prices in the third quarter
2000 to the third quarter 1999, based on Realtor
transactions.
The Florida Association of Realtors,
the voice for real estate in Florida, provides programs,
services, continuing education, research and legislative
representation to its 65,000 members in 71
boards/associations.
Florida Sales Report - Third Quarter 2000
Single-Family, Existing Homes
Realtor Sales Median Sales Price
Statewide &
Metropolitan 3rd Qtr. 3rd Qtr. % 3rd Qtr. 3rd Qtr. %
Statistical Areas 2000 1999 Chge 2000 1999 Chge
(MSAs)
STATEWIDE 38,889 37,346 4 $119,700 $111,300 8
Daytona Beach (1) 1,540 1,637 -6 $89,800 $84,100 7
Fort Lauderdale 3,674 3,544 4 $152,300 $136,700 11
Fort Myers-
Cape Coral (2) 801 876 -9 $110,100 $105,300 5
Fort Pierce-
Port St. Lucie 1,031 800 29 $97,200 $89,900 8
Fort Walton Beach 706 793 -11 $128,000 $112,300 14
Gainesville 611 666 -8 $111,900 $108,500 3
Jacksonville 3,089 2,819 10 $105,900 $98,800 7
Lakeland-Winter Haven 904 933 -3 $83,800 $81,600 3
Melbourne-
Titusville-Palm Bay 1,368 1,304 5 $97,600 $90,900 7
Miami 3,003 2,855 5 $139,800 $137,300 2
Naples 524 602 -13 $198,000 $192,700 3
Ocala (3) N/A N/A N/A N/A N/A N/A
Orlando 5,792 5,525 5 $111,200 $104,700 6
Panama City 438 437 --- $103,900 $100,200 4
Pensacola 1,188 1,311 -9 $104,400 $100,200 4
Punta Gorda 238 214 11 $92,500 $83,600 11
Sarasota-Bradenton 1,850 1,785 4 $146,800 $136,300 8
Tallahassee 664 675 -2 $120,900 $117,900 3
Tampa-St. Petersburg-
Clearwater 5,596 5,191 8 $104,500 $97,400 7
West Palm Beach-
Boca Raton 4,416 4,027 10 $140,600 $129,500 9
(1) Data for New Smyrna Beach was not available.
(2) Data for Fort Myers-Cape Coral was not available for the month of
September.
(3) Data for Ocala was not available.
This information is based on a
survey of MLS sales levels from Florida's Realtor
boards/associations. MSAs are defined by the 1990
Census. Source: Florida Association of Realtors and
the University of Florida Real Estate Research
Center.
SOURCE: Florida Association of
Realtors
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