Low mortgage rates and high demand continue to impact housing prices throughout the state, report Realtors in many markets. Last month, the statewide median price rose 28 percent to $212,300; a year ago, it was $165,700. In March 2000, the statewide median sales price was $121,600, resulting in a 74.5 percent increase over the five-year-period, FAR records show.The median is a typical market price where half the homes sold for more, half for less.

Florida’s median sales price tops the national median sales price for existing single-family homes, which was $188,200 in February 2005, up 9.4 percent from a year earlier. The statewide median price compares favorably to many other states: In California, the statewide median resales price was $471,620 in February; in Massachusetts, it was $340,000; in New York, it was $290,000; in Maryland, it was $254,690; and in North Carolina, the average resales price was $193,772.

Among the state’s larger markets, the Fort Myers-Cape Coral Metropolitan Statistical Area (MSA) reported a 48 percent jump in home sales last month with a total of 1,305 homes sold; a year ago, a total of 880 homes sold. The median sales price rose 43 percent to $246,600; last year, it was $172,900.

Other large Florida MSAs reporting strong resales activity last month include: Tampa-St. Petersburg-Clearwater, where 4,974 homes changed hands for a 16 percent increase; and Jacksonville, where 1,555 homes sold for a 7 percent gain over March 2004 sales. The median sales price also rose in those markets: in Tampa-St. Petersburg-Clearwater, 24 percent to $179,300; and in Jacksonville, 17 percent to $172,300.

Among the smaller markets in Florida, the Pensacola MSA had higher sales in March, with 605 homes sold compared to 481 homes a year ago for a 26 percent jump. The median sales price rose 21 percent to $146,100; a year ago, it was $120,500.

© 2005 FLORIDA ASSOCIATION OF REALTORS®