Home prices are on the rise across Florida, according to a report released by Florida Realtors®. The median price for existing homes was $129,000 in January 2012, up over 5% from last year’s median price of $122,500.
Median price is the midpoint; half the homes sold for more, half for less. Sales of foreclosures and other distressed properties continue to negatively impact the median price because they generally sell at lower prices relative to traditional homes, according to housing industry analysts.
The Florida Realtor report also reflected that while home sales statewide have declined, pending sales have continued to increase month over month since May 2011. In addition, homes listed for sale across the state have fallen about 34% from the previous year.