Real Estate in Florida Slips in December of 2005

Monday, January 30 2006 @ 09:38 pm UTC

Contributed by: Admin

Decline on sale prices for single-family homes in Florida from November to December, still Florida's streaking real estate market posted a decent double-digit percentage for 2005.

The state's median sale price for a single-family existing home was at $247,000 last month, it was a decline from $250,500, its statistics shows on Wednesday by the Florida Association of Realtors trade group. The decline was obvious as market dipped.

Despit of all the dips and turns, the state still manages to have an increase in last month's median price, 27 percent higher that the price recorded for December 2004 at $194,000. Miami alone suffers the dip as they recorded $377,700 in December, depite of it they still have a 27 percent increase from December 2004.

Fort Lauderdal also experience the trend as they declined over the months as they recorded $369,000 in December from a decent $391,000 in December. Their median price increase 22 percent from it's December the previous year. Also in other parts of Florida the trend started to show as obvious statistics shows.

The said trade group told that housing sector was bouyed by the consistent growth of population of about 1,100 new people everyday, that was approximately 400,00 new comers just last year. Also they have reported that the sales of existing homes in 2005 totaled over 248,565, that's a 2 percent increase more than it's previous year.

By: Qyntrell LeSane