Among 12 Florida markets, prices of existing homes sold rose as much as 12%, fell as much as 13% in past year
Wake up and good morning. Prices of previously occupied homes rose in five of 12 Florida metro areas this spring -- perhaps an early signal the state's housing market is starting to approach some sense of stability -- as buyers took advantage of tax incentives that gave the struggling housing market a temporary jolt.
The five "winners" with rising prices compared to last year include Fort Myers, Miami-Fort Lauderdale, the Palm Bay-Melbourne area, Sarasota-Bradenton and, yes -- ever so slightly, with a 0.4 percent gain -- the Tampa Bay area.
Hardest hit this spring compared to a year ago were Ocala, Jacksonville, the Daytona Beach area, Orlando, Gainesville, Pensacola and Tallahassee.
Of these 12 markets, the biggest gain in home prices appeared in the Fort Myers area, up 12 percent. The biggest loss was Ocala, down 13 percent.
Nationwide, the median sales price for previously occupied homes rose compared with last year in 100 out of 155 metropolitan areas tracked in the April-to-June quarter. The national median price in the second quarter was $176,900, up from $174,200 in the same quarter last year and up from $166,400 in the January-to-March period. Here's more details from the AP and the National Association of Realtors own take on the numbers.
Here's a breakdown of the 12 Florida markets for existing home sales, showing the median price in Q2 2009 vs Q2 2010 and the percent change. Numbers are from the National Association of Realtors (see the complete national table of home prices here.)
Cape Coral-Fort Myers: $84,000 vs. $94,100, 12.0%
Deltona-Daytona Beach-Ormond Beach: $127,200 vs. $117,000, -8.0%
Gainesville: $178,200 vs. $172,900, -3.0%
Jacksonville: $152,700 vs. $139,000, -9.0%
Miami-Fort Lauderdale-Miami Beach: $207,400 vs. $214,200, 3.3%
Ocala: $110,200 vs. $95,900, -13.0%
Orlando: $149,200 vs. $140,200, -6.0%
Palm Bay-Melbourne-Titusville: $104,100 vs. $117,300, 12.7%
Pensacola-Ferry Pass-Brent: $147,800 vs. $143,100, -3.2%
Sarasota-Bradenton-Venice: $175,800 vs. $184,600, 5.0%
Tallahassee: $149,800 vs. $142,300, -5.0%
Tampa-St. Petersburg-Clearwater: $140,900 vs. $141,400, 0.4%
Want some longer term perspective on Tampa Bay housing prices? In 2007, the median existing home price was $217,900. It fell like a rock to 173,000 by 2008 and further to 140,700 last year. (Photo: Bill Serne, St. Petersburg Times)
--Robert Trigaux, Times Business Columnist