Appreciation In The Sunshine State

January 28, 2002

Florida Association of Realtors Reports Median Sales Price Jumped To $130,700

Inman News Features

The median sales price for existing single-family homes sold in Florida rose 10 percent to $130,700 in December compared with $118,500 for the same month in 2000, the Florida Association of Realtors reported today.

The statewide median sales price was $92,500 in December 1996, translating to a gain of approximately 41 percent over the five-year period, according to the association?s records.

A total of 12,993 existing single-family homes were sold statewide last month compared with 12,601 homes sold in December 2000, an increase of 3 percent.

Among Florida's larger cities, the Orlando metropolitan area reported double-digit increases in both the number of sales and the median sales price last month compared with the same month a year ago. A total of 2,099 homes were sold in the area in December 2001 compared with 1,911 homes in 2000, a 10 percent increase. The median sales price of those homes rose 12 percent, reaching $124,400 compared with $111,100 in December 2000.

The Florida Association of Realtors also announced its 2002 officers will be President Maurice "Moe" Veissi, owner/broker of Veissi & Associates in Miami, President-Elect Tom Salomone, broker/owner of Real Estate II in Coral Springs and Margate, Vice President-Secretary Frank Kowalski, president of Metro Dade Realty in Miami, and Treasurer Russell Grooms Jr., broker of Watson Realty Corp. in Jacksonville.

The association issued a reminded that Feb 15 is the deadline for entries in its annual essay contest for high school seniors in the state. A total of $28,000 in scholarships toward next year?s college tuition will be awarded to the winners. To enter, students must write an essay of 500 words or less on how a Realtor benefits the community.

Copyright: Inman News Service

Contact ALTA at 202-296-3671 or [email protected].