Wednesday, January 03, 2007
BAJA EN LA VENTA DE RESIDENCIAS EN EL ESTADO DE LA FLORIDA
MARRERO REAL ESTATE BROKERAGE LLC
JOSE RAUL MARRERO
REAL ESTATE BROKER LIC
UN MARAVILLOSO DIA PARA TODOS
UNA BUENSA NOTICIA PARA LOS QUE ESTAN PENSANDO COMPRAR UNA RESIDENCIA PROXIMAMENTE EN EL ESTADO DE LA FLORIDA ES QUE EL MERCADO SE MATIENE FAVORABLE PARA HACERLO AHORA A PRINCIPIOS DE ESTE ANO 2007.EL MES DE NOVIEMBRE REFEJO UNA BAJA EN VENTAS AUNQUE EL MES DE DICIEMBRE SE VIO UN COMPORTAMIENTO FAVORABLE. A CONTINUACION EL DETALLE DE ESTA NOTICIA.
Florida’s existing home sales down in November
ORLANDO, Fla. – Jan. 2, 2007 – Sales of existing homes and condos in Florida were down in November – traditionally a slow month for the housing sector; at the same time, many markets reported that the inventory of homes available for sale continued to stabilize. A total of 11,912 existing single-family homes sold statewide last month, a decrease of 30 percent from the 17,088 homes sold during the previous November, according to the Florida Association of Realtors® (FAR). The statewide existing-home median price was $242,500 last month; a year ago, it was $250,400 for a decrease of 3 percent, according to FAR. In November 2001, the statewide median sales price was $128,800, representing an increase of about 88.3 percent over the five-year period, according to FAR records. The median is a typical market price where half the homes sold for more, half sold for less.
Nationally, the median sales price for existing single-family homes was $221,300 in October, down 3.4 percent from a year ago, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $548,680 in October; in Massachusetts, it was $341,000; in Maryland, it was $307,135; and in New York, it was $235,000.
Housing market fundamentals are improving, according to NAR’s latest market outlook, and 2006 is expected to be the third strongest sales year on record nationally. NAR Chief Economist David Lereah notes that strong job creation, historically low and declining mortgage interest rates and the demographics of a growing population provide a solid foundation for homeownership opportunities. Following a period of price adjustment, Lereah predicts buyers will show more confidence in the market, adding that “a lift to home sales should be apparent in the first quarter of 2007.”
Looking to Florida’s existing condominium market, sales also declined in November with a total of 3,346 condos sold statewide compared to 5,198 in November 2005 for a 36 percent decrease, according to FAR. The statewide median sales price for condos last month was $206,000; a year ago, it was $215,100 for a 4 percent decrease. The national median existing condo price in October 2006 was $214,300, according to NAR.
According to Freddie Mac, a 30-year fixed-rate mortgage averaged 6.24 percent last month, down from 6.33 percent in November 2005. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Among the state’s larger markets, theOrlando metropolitan statistical area (MSA) reported 1,705 existing homes sold last month, compared to 2,656 homes sold a year ago for a 36 percent decrease. The market’s median existing home price increased 4 percent to $263,600; a year ago, it was $254,600. A total of 276 existing condos changed hands in Orlando in November for a 41 percent decrease over the 467 condos sold the previous year. The market’s median existing condo price was $171,800; a year ago, it was $182,400 for a 6 percent decrease.
Randy Martin, president of the Orlando Regional Realtor Association and a broker-associate with RE/MAX 200 Realty Inc. in Winter Park, says that the Orlando area housing market is expected to finish out 2006 as the second best year on record in terms of sales of single-family existing homes. “With inventory at an all-time high and mortgage interest rates at an all-time low, it offers a great opportunity for buyers – one that is unlikely to be replicated,” he says. “The latest economic forecasts suggest that the real estate market correction is coming to an end and that home prices will not be going any lower.”
Of the state’s smaller markets, the Fort Pierce-Port St. Lucie MSA reported a total of 305 existing homes sold in November compared to 459 homes sold a year earlier for a 34 percent decrease. The area’s median existing home sales price was $247,600 last month; a year ago, it was $261,000 for a 5 percent decrease. Fifty-three existing condos sold in the MSA last month for a 2 percent decrease from the 54 condos sold a year ago. The market’s median existing condo price remained relatively flat at $174,000; a year ago, it was $173,300.
“New business and industries are taking a strong interest in the region, following the lead of the Torrey Pines molecular research institute,” says Jerry Mabus, president of the Realtors Association of St. Lucie and broker associate with All Florida Realty Services in Port St. Lucie. “Once an international player comes into a community, it changes everything. Our area is prime for this kind of business development, and all factors are in play for the area to experience booming growth. Looking to 2007 and beyond, I see only good things ahead for the St. Lucie area.”
© 2007 FLORIDA ASSOCIATION OF REALTORS®
JOSE RAUL MARRERO
407-436-5140
787-486-7906
TODOS SOMOS GUERREROS DE LUZ!
JOSE RAUL MARRERO
REAL ESTATE BROKER LIC
UN MARAVILLOSO DIA PARA TODOS
UNA BUENSA NOTICIA PARA LOS QUE ESTAN PENSANDO COMPRAR UNA RESIDENCIA PROXIMAMENTE EN EL ESTADO DE LA FLORIDA ES QUE EL MERCADO SE MATIENE FAVORABLE PARA HACERLO AHORA A PRINCIPIOS DE ESTE ANO 2007.EL MES DE NOVIEMBRE REFEJO UNA BAJA EN VENTAS AUNQUE EL MES DE DICIEMBRE SE VIO UN COMPORTAMIENTO FAVORABLE. A CONTINUACION EL DETALLE DE ESTA NOTICIA.
Florida’s existing home sales down in November
ORLANDO, Fla. – Jan. 2, 2007 – Sales of existing homes and condos in Florida were down in November – traditionally a slow month for the housing sector; at the same time, many markets reported that the inventory of homes available for sale continued to stabilize. A total of 11,912 existing single-family homes sold statewide last month, a decrease of 30 percent from the 17,088 homes sold during the previous November, according to the Florida Association of Realtors® (FAR). The statewide existing-home median price was $242,500 last month; a year ago, it was $250,400 for a decrease of 3 percent, according to FAR. In November 2001, the statewide median sales price was $128,800, representing an increase of about 88.3 percent over the five-year period, according to FAR records. The median is a typical market price where half the homes sold for more, half sold for less.
Nationally, the median sales price for existing single-family homes was $221,300 in October, down 3.4 percent from a year ago, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $548,680 in October; in Massachusetts, it was $341,000; in Maryland, it was $307,135; and in New York, it was $235,000.
Housing market fundamentals are improving, according to NAR’s latest market outlook, and 2006 is expected to be the third strongest sales year on record nationally. NAR Chief Economist David Lereah notes that strong job creation, historically low and declining mortgage interest rates and the demographics of a growing population provide a solid foundation for homeownership opportunities. Following a period of price adjustment, Lereah predicts buyers will show more confidence in the market, adding that “a lift to home sales should be apparent in the first quarter of 2007.”
Looking to Florida’s existing condominium market, sales also declined in November with a total of 3,346 condos sold statewide compared to 5,198 in November 2005 for a 36 percent decrease, according to FAR. The statewide median sales price for condos last month was $206,000; a year ago, it was $215,100 for a 4 percent decrease. The national median existing condo price in October 2006 was $214,300, according to NAR.
According to Freddie Mac, a 30-year fixed-rate mortgage averaged 6.24 percent last month, down from 6.33 percent in November 2005. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Among the state’s larger markets, theOrlando metropolitan statistical area (MSA) reported 1,705 existing homes sold last month, compared to 2,656 homes sold a year ago for a 36 percent decrease. The market’s median existing home price increased 4 percent to $263,600; a year ago, it was $254,600. A total of 276 existing condos changed hands in Orlando in November for a 41 percent decrease over the 467 condos sold the previous year. The market’s median existing condo price was $171,800; a year ago, it was $182,400 for a 6 percent decrease.
Randy Martin, president of the Orlando Regional Realtor Association and a broker-associate with RE/MAX 200 Realty Inc. in Winter Park, says that the Orlando area housing market is expected to finish out 2006 as the second best year on record in terms of sales of single-family existing homes. “With inventory at an all-time high and mortgage interest rates at an all-time low, it offers a great opportunity for buyers – one that is unlikely to be replicated,” he says. “The latest economic forecasts suggest that the real estate market correction is coming to an end and that home prices will not be going any lower.”
Of the state’s smaller markets, the Fort Pierce-Port St. Lucie MSA reported a total of 305 existing homes sold in November compared to 459 homes sold a year earlier for a 34 percent decrease. The area’s median existing home sales price was $247,600 last month; a year ago, it was $261,000 for a 5 percent decrease. Fifty-three existing condos sold in the MSA last month for a 2 percent decrease from the 54 condos sold a year ago. The market’s median existing condo price remained relatively flat at $174,000; a year ago, it was $173,300.
“New business and industries are taking a strong interest in the region, following the lead of the Torrey Pines molecular research institute,” says Jerry Mabus, president of the Realtors Association of St. Lucie and broker associate with All Florida Realty Services in Port St. Lucie. “Once an international player comes into a community, it changes everything. Our area is prime for this kind of business development, and all factors are in play for the area to experience booming growth. Looking to 2007 and beyond, I see only good things ahead for the St. Lucie area.”
© 2007 FLORIDA ASSOCIATION OF REALTORS®
JOSE RAUL MARRERO
407-436-5140
787-486-7906
TODOS SOMOS GUERREROS DE LUZ!
