Florida’s resale housing market continued to sputter in July, with sales down 24 percent from the same month a year ago, the Florida Association of Realtors said Monday.

The median price dipped 5 percent — to $237,500 — compared with a year ago.

Among the state’s major metro areas, Fort Myers turned in one of the worst year-over-year performances, with a 39 percent drop in sales, followed closely by Orlando at 35 percent.
Four metro regions had double-digit percentage declines in price: Melbourne-Titusville, off 11 percent, dipping below $200,000 to $195,800; Fort Pierce-Port St. Lucie, also down 11 percent; Sarasota-Bradenton, down 12 percent; and Punta Gorda, off 21 percent.

Nationally, sales of existing homes dropped for a fifth straight month in July to the slowest annualized pace in nearly five years, while home prices were down from a year earlier for a record 12th consecutive month.

The National Association of Realtors reported that resales dipped 0.2 percent to a seasonally adjusted annual rate of 5.75 million units.

The median price of a home sold last month slid to $230,200, down 0.6 percent from the median price a year ago.

Metro Orlando’s median price, as measured by the statewide Realtors group, edged down 3 percent to $258,000.

The metro area, which consists of Orange, Seminole, Osceola and Lake counties, was one of 18 in Florida posting a lower median sales price.

The Florida Realtors also reported that condominium sales were down 19 percent statewide, with their median price slipping 7 percent to $193,900.

Orlando was among six metro areas that turned in double-digit percentage price declines for condo sales compared with year-ago prices.

Orlando’s median slipped 13 percent to $147,700.

Some of the coastal areas that were hit hardest by price declines earlier this year showed some improvement.

Miami, for example, saw the median price of a condo sold in July rise 13 percent to $285,800, compared with July 2006. But only 509 units were sold — 39 percent fewer than a year ago.

Tampa, Pensacola, Jacksonville and Fort Walton Beach also posted price gains, though most of those markets had fewer sales than in July 2006.

Overall, the Orlando-based Florida Realtors Association said, the July numbers showed some “stabilizing” of the market.
Source:

http://www.orlandosentinel.com/business/orl-homesales2807aug28,0,1416559.story