Florida home sales and prices rose during each month of 2005’s first quarter, leaving the home sale price average at $207,000 at the quarter’s end; a 27 percent increase from $200,000 last year.
Markets even as small as Gainesville reported increases; 840 homes sold, creating an increase of 38 percent. Larger markets also reported increases. Tampa-Clearwater-St. Petersburg, where I contribute to increasing home sales from, experienced a 16 percent increase and the median home sale price rose to $176,400; a 23 percent increase from this time last year.
Numerous factors are driving both home sales and prices up, including the massive migration of northerners, and others, to Florida to buy second homes in early preparation for retirement. Combined with the massive scarcity of land, this huge demand for housing has driven sales and prices up over the years, and will likely continue to do so until 2020, or 2025, according to experts.
Many have been visiting this website to buy now, with anticipation that prices will go up again soon. Information released by the Florida Association of Realtors was used for this report.Powered by Sidelines