Florida Sales Report – September 2011
Single-Family, Existing Homes
|
|
Realtor Sales |
Median Sales Price |
|
Statewide &
Metropolitan Statistical Areas (MSAs) |
September
2011 |
September
2010 |
%
Chge |
September
2011 |
September
2010 |
%
Chge |
STATEWIDE* (1) |
15,036 |
13,723 |
10 |
$133,900 |
$135,000 |
-1 |
|
STATEWIDE-YEAR-TO-DATE |
143,883 |
133,107 |
8 |
$131,600 |
$136,600 |
-4 |
|
Daytona Beach |
743 |
707 |
5 |
$105,100 |
$116,300 |
-10 |
|
Fort Lauderdale (2) |
1,079 |
974 |
11 |
$188,800 |
$202,000 |
-7 |
|
Fort Myers-Cape Coral |
1,127 |
1,102 |
2 |
$110,600 |
$94,400 |
17 |
|
Fort Pierce-Port St. Lucie |
429 |
420 |
2 |
$108,800 |
$107,400 |
1 |
|
Fort Walton Beach |
247 |
245 |
1 |
$183,200 |
$178,100 |
3 |
|
Gainesville |
149 |
142 |
5 |
$153,100 |
$157,100 |
-3 |
|
Jacksonville |
1,206 |
1,093 |
10 |
$131,000 |
$139,600 |
-6 |
|
Lakeland-Winter Haven |
279 |
283 |
-1 |
$103,500 |
$97,200 |
6 |
|
Melbourne-Titusville-Palm Bay |
523 |
557 |
-6 |
$107,900 |
$98,200 |
10 |
|
Miami |
848 |
582 |
46 |
$176,600 |
$188,000 |
-6 |
|
Ocala |
307 |
272 |
13 |
$73,300 |
$81,300 |
-10 |
|
Orlando |
2,160 |
2,184 |
-1 |
$125,200 |
$128,400 |
-2 |
|
Panama City |
134 |
95 |
41 |
$152,000 |
$153,000 |
-1 |
|
Pensacola |
344 |
296 |
16 |
$135,000 |
$143,000 |
-6 |
|
Punta Gorda |
219 |
241 |
-9 |
$98,300 |
$90,900 |
8 |
|
Sarasota-Bradenton |
816 |
760 |
7 |
$156,800 |
$151,000 |
4 |
|
Tallahassee |
170 |
132 |
29 |
$168,700 |
$178,700 |
-6 |
|
Tampa-St. Petersburg-
Clearwater (3) |
2,375 |
2,152 |
10 |
$126,900 |
$130,100 |
-2 |
|
West Palm Beach-Boca Raton |
1,076 |
801 |
34 |
$180,300 |
$225,900 |
-20 |
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island
Association of Realtors.
(2) Includes data from all associations in the market area.
(3) Data from the Hernando Association of Realtors was not available.
Editor's note: Sales numbers represent totals of Realtors' closed transactions from local Realtor
boards/associations within the MSAs.
This information is based on a survey of MLS sales levels from local Realtor boards/associations. MSAs are defined by the 2000 Census. Source: Florida Realtors® and the University of Florida Bergstrom Center for Real Estate Studies.
Florida Sales Report – September 2011
Existing Condominiums
|
|
Realtor Sales |
Median Sales Price |
|
Statewide &
Metropolitan Statistical Areas (MSAs) |
September
2011 |
September
2010 |
%
Chge |
September
2011 |
September
2010 |
%
Chge |
|
STATEWIDE* (1) |
6,666 |
6,035 |
10 |
$87,200 |
$81,800 |
7 |
|
STATEWIDE-YEAR-TO-DATE |
69,023 |
58,287 |
18 |
$88,200 |
$91,800 |
-4 |
|
Daytona Beach |
154 |
167 |
-8 |
$160,000 |
$114,400 |
40 |
|
Fort Lauderdale (2) |
1,281 |
1,214 |
6 |
$71,900 |
$70,100 |
3 |
|
Fort Myers-Cape Coral |
299 |
298 |
— |
$114,700 |
$105,500 |
9 |
|
Fort Pierce-Port St. Lucie |
95 |
96 |
-1 |
$68,800 |
$76,000 |
-9 |
|
Fort Walton Beach |
126 |
105 |
20 |
$207,100 |
$216,100 |
-4 |
|
Gainesville |
35 |
18 |
94 |
$69,200 |
$80,000 |
-14 |
|
Jacksonville |
218 |
205 |
6 |
$72,300 |
$76,100 |
-5 |
|
Lakeland-Winter Haven |
19 |
18 |
6 |
$58,800 |
$40,000 |
47 |
|
Melbourne-Titusville-Palm Bay |
122 |
135 |
-10 |
$100,000 |
$75,800 |
32 |
|
Miami |
1,319 |
833 |
58 |
$116,000 |
$99,400 |
17 |
|
Ocala |
12 |
8 |
50 |
$40,000 |
$50,000 |
-20 |
|
Orlando |
444 |
720 |
-38 |
$60,500 |
$49,900 |
21 |
|
Panama City |
81 |
60 |
35 |
$174,000 |
$180,000 |
-3 |
|
Pensacola |
53 |
43 |
23 |
$209,400 |
$147,500 |
42 |
|
Punta Gorda |
38 |
30 |
27 |
$70,000 |
$75,000 |
-7 |
|
Sarasota-Bradenton |
232 |
241 |
-4 |
$120,900 |
$134,100 |
-10 |
|
Tallahassee |
9 |
12 |
-25 |
$75,000 |
$105,000 |
-29 |
|
Tampa-St. Petersburg-Clearwater (3) |
752 |
777 |
-3 |
$80,000 |
$84,900 |
-6 |
|
West Palm Beach-Boca Raton |
1,100 |
825 |
33 |
$76,700 |
$86,200 |
-11 |
(1) *Statewide figure includes data from the Naples Area Board of Realtors; it also includes data from the Marco Island
Association of Realtors.
(2) Includes data from all associations in the market area.
(3) Data from the Hernando County Association of Realtors was not available.
Editor's note: Sales numbers represent totals of Realtors' closed transactions from local Realtor
boards/associations within the MSAs.
This information is based on a survey of MLS sales levels from local Realtor boards/associations. MSAs are defined by the 2000 Census. Source: Florida Realtors® and the University of Florida Bergstrom Center for Real Estate Studies.
Condo Vultures
International Buyers Spend $318 Million Monthly On South Florida Real Estate
Published on 9/22/2011 2:45:00 PM
Foreign buyers are spending an average of $318 million – primarily in cash – every month purchasing residential real estate in South Florida, according to a new report from CondoVultures.com.
International buyers from Latin America, Canada, Western Europe, and many other regions purchased more than $3.8 billion in residential real estate in the Miami - Fort Lauderdale - Miami Beach market in 2010, according to a new report from the National Association of Realtors in
conjunction with a survey of Florida Realtors association members.
More than 86 percent of the Florida transactions involving international buyers are being completed in cash as financing – while desirable - is proving difficult to obtain for many foreigners who have been attracted by the state's climate, available product, discounted pricing, and infrastructure, according to the report.
“Many foreign buyers are accustom to purchasing real estate in cash in their home countries,” said Jenny Huertas, an licensed international real estate broker with Bal Harbour, Fla.-based CVR Realty™.
“The challenge related to obtaining U.S. financing in today’s market is not necessarily a deal killer for most foreign buyers. Still, South Florida would probably benefit if financing were more readily available.”
Despite the financing difficulties of today’s market, foreign buyers are acquiring Florida properties at a strong pace given the fact that a majority of the owners have no intention of occupying their
real estate for any extended period of time, according to the report.
Only 12 percent of the foreign buyers plan to spend more than six months of any given year in their Florida properties compared to 16 percent who plan to occupy their places for less than one month a year.
A majority - some 56 percent - of the foreign buyers plan to use their properties between two months and six months of every year.
For 23 percent of the foreign buyers, Florida real estate is perceived as a “profitable investment” given the deeply discounted prices, rising rents in certain coastal markets such as in South Florida,
and the weakness of the U.S. dollar, according to the report.
For other buyers, Florida real estate offers a “secure investment” compared to their home countries that may be dealing with financial and civil uncertainty, according to the report.
“International sales of U.S. homes to foreigners…have different market drivers – perceptions of value relative to foreign comps, the desire to diversify assets, potential vacation use, rental opportunities, and an interest in placing assets in areas with well-defined and secure property rights,” according to the report.
Overall, foreign buyers account for 26 percent of Florida's $48.8 billion in residential resales compared to nationally where foreign buyers account for only three percent of U.S. residential real estate transactions, according to the report.
For foreign buyers focused on Florida, the top destination is South Florida. The Miami - Fort Lauderdale - Miami Beach market represents 30 percent of the estimated $12.7 billion that foreign buyers spent on Florida real estate, according to the report.
Compare this to the Orlando - Kissimmee market in Central Florida – where Walt Disney World is located - that enjoyed the second largest share of foreign buyers in the state with a 14 percent share that equates to nearly $1.8 billion.
The Tampa - St. Petersburg - Clearwater market on the Gulf of Mexico earned the No. 3 ranking with a 11 percent share – nearly $1.4 billion - of total foreign transactions in Florida.
Rounding out the top 5 markets for foreign transactions are the deeply distressed Southwest Florida markets of Cape Coral - Fort Myers with an eight percent share – or $1.02 billion - and the
Naples - Marco Island market with a six percent share that equates to $762 million, according to the report.
The Miami - Fort Lauderdale - Miami Beach residential real estate market is being buoyed by foreign investors from Latin America, which account for 53 percent of the international buyers in South Florida.
Canada and Mexico – categorized as North America – combined represent 23 percent of the international buyers in the Miami - Fort Lauderdale - Miami Beach market.
Western Europe, led by Germany and the United Kingdom, account for 19 percent of the foreign transactions in the Miami - Fort Lauderdale - Miami Beach residential real estate market, according to the report.
In the Orlando – Kissimmee market, foreign buyers from North America represent 41 percent of the international transactions.
The Latin America region is a distant second with 27 percent of the
residential resale activity by foreign buyers, and Western Europe is third with a market share of 23 percent, according to the report.
Top 10 Rankings
Rank Country Share
1. Canada 39%
2. Brazil 8%
3. United Kingdom 7%
3. Venezuela 7%
5. Germany 5%
6. France 4%
7. Argentina 3%
7. Colombia 3%
9. Australia 2%