Market is Still Tough for Sellers in Florida

  • 17 years ago
  • Uncategorized
The latest sales information from the Florida Association of Realtors and the National Association of Realtors shows that the property market for homes and condominiums is still trying to find steady ground. Unit sales and prices both fell in August for the state as a whole. Sales of existing homes fell to 11,279 in August, 2007 from 15,252 the previous year, for a 26% decrease. While that is a fairly substantial fall, the number is about what sales were in the early boom years 2001 and 2002.
The median price for existing homes in Florida was $231,900 in August, down 6% from 2006 when the median price was $246,000. In August, 2002 the median price was $141,200. That’s a 64.2% increase over the past five years, a substantial return on anyone’s investment.
Condominium sales also decreased in August state wide, with 3,380 units sold in 2007 compared to 4,522 for August of 2006. The 25% decrease in sales is similar to that of existing homes. The median price for a condo was $196,800 this year compared to $201,900 in 2006, a 3% decline.
When compared to national numbers, the prices for Florida housing show that there are plenty of bargains to be had. For the whole of the United States, existing home prices in August were $224,500 and condominium prices were $228,500. The highest housing prices in the country are in California, with a median existing home price of $586,030 for July, 2007.
The national sales picture is actually better off in terms of year over year sales than in Florida, but not by much. For August, home sales fell 13% from the previous year, while condo sales fell 11.7%. Regionally, the West took the largest hit with a 21.7% decline in sales of existing homes.
Selling to an international audience could well be the answer for US realtors with a strong pound and cheaper US house prices the UK could well be the place to sell Florida Property. One such company Nuway International is working with to market its US investment properties.
NuWay International, with the support of Coldwell Banker, will hold an exclusive International Investor Seminar on the evening of October 13th, 2007 at the Millennium Hotel in London.  This event will bring together investors and businesspeople in the region in a forum to look at the possibilities in the international real estate market. In particular, NuWay will be showcasing US property in premium, rapidly appreciating properties in some of the most sought after niche resort markets in the US.
Contact Us
More Details about the event and free tickets available at  

UK Freephone: 0800 043 00 96 or  International: +44 207 099 33 92.


Compare listings