Higher Home Prices, More Home Sales in Florida in Aug. ‘12

The housing market in Florida last August was characterized by higher median price, more closed sales and more pending sales, this according to the latest report of Florida Realtors.

Summer Greene, Florida Realtors President, said in a statement, “Florida’s housing marketing continues its momentum.”

“Buyers who have been waiting on the sidelines should see this as a sign to jump in before the market escapes them again. Sellers who have been hesitant to sell should put their homes on the market now,” the Florida Realtors President added.

In the state of Florida, closed sales of existing single-family homes reached 18,669 last month, a 10.8% increase compared to last year’s data.

Pending sales – those contracts that are signed but not yet closed or completed – of existing single-family homes, also increased last month by 40.2% compared to last year’s data.

The median sales price for single-family existing homes in Florida last month was $147,000, a 5.8% increase from August 2011.

Meanwhile, the sales of townhomes and condos in Florida last month totalled 8,767, a 5.7% increase from those sold over a year ago.

The median price for the townhome-condo properties sold last August was $102,980, a 13.2% increase over the preceding year.

Dr. John Tuccillo, Florida Realtors Chief Economist, said in a statement, “Florida’s housing market is still reviving.”

“After the six years of turmoil that we had, it’s good to see the trends strongly moving in the right direction,” Florida Realtors Chief Economist added.

The Guldi Real Estate Group is consistently ranked as one of the country’s top real estate teams by the Wall Street Journal. The Guldi Group provides outstanding customer service to clients throughout the state of Maryland and South Florida from four locations.