Florida Real Estate
Market Heats Up
Much like the major stock market indices in early March, the Flor- ida housing market seemingly wants to keep climbing higher and higher. At least that’s one way to read Florida’s real estate industry as it roared into the Spring 2014 buying season. Indeed, the Sunshine State is living up to its name with hous- ing data showing nothing but sunny skies in nearly every Metropolitan Statistical Area (MSA), according to the most recent quarterly study from
the Florida Realtors. In fact, 19 of the 20 Florida MSAs in fourth quarter 2013 had a
higher median sale price compared to the prior year. The only laggard: Crestview-Fort
Walton Beach-Destin, which is located in Florida’s panhandle.
All in all, Florida’s housing market wrapped up 2013 with more closed sales, higher
pending sales, higher median prices and a reduced inventory of homes for sale compared to the prior year, the Florida Realtors association reported.
“Throughout 2013, the state’s housing market has demonstrated it’s in a solid re-
covery and gaining strength,” said 2014 Florida Realtors President Sherri Meadows,
who also serves as chief executive officer and Keller Williams team leader with market
centers in Gainesville, Ocala and the Villages. “The positive fundamentals of Florida’s
housing sector continue into 2014. However, factors remain that could slow an even
stronger economic recovery, such as limited inventories of for-sale homes in many
areas, overly-restrictive mortgage credit, rising interest rates, and concerns about the
cost and availability of property and flood insurance.”
According to the latest Florida Realtors quarterly study, statewide closed sales of
existing single-family homes totaled 227,411 in 2013, up 11. 8 percent compared to the
2012 figure. Meanwhile, pending sales for existing single-family homes jumped 17. 6
percent for the year, and the statewide median sales price for single-family existing
homes in 2013 rose to $168,000, up 15. 9 percent from the previous year.
By Scott Kauffman
According to the latest Florida Realtors quarterly study, statewide closed
sales of existing single-family homes totaled 227,411 in 2013, up 11. 8 percent.