Florida's Existing Home Median Price Rises
Statewide the median price for an existing home rose 11 percent last month. Homes sales across the country are slower which is a good thing for the housing sector according to NAR. Even so, NAR reports that it "expects 2006 to be the third strongest sales year on record."
According to Sarasota MLS data, the median sales price for a single-family home in May 2006 was $340,000, compaired to $350,000 in May 2006. The number of single-family homes sold in May 2006 was 482, compared to 683 in May 2005.
Mortgage rates are still rising and Florida's home prices in May continued to adjust to a changing market. Many areas including the Sarasota real estate market, continue to have a greater inventory of homes for sale than in the previous year.
Monday, July 24, 2006
Sarasota Real Estate News
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