Figures released by Florida Realtors show that sales of existing home and condo in Florida were on the
up during the last three months of 2011 — compared to the same period in 2010.
The number for existing home sales increased by 7 percent in the last quarter, which amounted to 42,038
houses, compared to a total of 39,355 homes that were sold in the last quarter of 2010. All in all, the state
sees an increase of 4 percent in existing condo sales in Q4 2011 in comparison to the year before. During
the last three months of 2011, the median sales price for existing home was down 1 percent from the
same period in 2010 at $132,000. Given that half of the homes in the state sold for more and the other
half for a loss, this is in line with the typical market price.
Meanwhile, existing condo sales in Q4 2011 were up 4 percent where a total of 18.558 units were sold
compared to 17,922 units in the last quarter of 2010. While in Q4 2010 the existing-condo median sales
price was $84,400, there was an increase of 5 percent in Q4 2011 to $88,800.
Florida Realtors Chief Economists Dr. John Tuccilo attributed the improvement of the housing market in
Florida to the improving economy in the state. With sales picking up across the board, he expects there
will be “continued growth in housing activity.”
According to Freddie Mac, the average national commitment rate hit a record low of 4.01 percent for a 30-
year conventional fixed-rate mortgage in Q4 2011, which was even lower than the average 4.41 percent
registered in the same period in 2010.
The housing statistics were released by Florida Realtors in cooperation with the University of Florida’s
Bergstrom Center for Real Estate Studies. The Florida Realtors will work with 10K Research and
Marketing, a division of the Minneapolis Area Association of Realtors, for the upcoming January 2012
existing sales statistics – where there will no longer be reports of sales data in the metropolitan statistical
areas in Florida but only statewide numbers instead.
The housing sales data from 63 local Realtor organizations in Florida will be collected and organized by
10K Research and Marketing as a way to provide Realtor members with unique and localized market reports.
