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Mainly due to the fact that the median sales price in January only increased in five major markets across the state.

The markets that showed an increase in median sales price from January 2010 to January 2011 - Fort Pierce/Port St. Lucie, Fort Myers/Cape Coral, Daytona Beach, Fort Lauderdale and Orlando. The single family home market in Florida continued to decline from January 2010 to January 2011. While home sales were up in most markets, it declined in areas like Fort Myers/Cape Coral and Fort Pierce/Port St. Lucie. The median sales price statewide was down 7% and was down in all major markets with the exception of Pensacola, which showed a 2% increase. The largest decrease in median sales price from 2010 to 2011 were Ocala (-25%), Lakeland/Winter Haven (-20%) Gainesville and West Palm/Boca Raton (-19%), Miami (-18%) and Tampa/St. Petersburg/Clearwater (-16%).

When working with your Certified International Property Specialist as your real estate agent, discuss with them your investment criteria for the property and your exit strategy for when you sell. Remember, they are the expert in the area and will be able to guide you to the right property and professionals to create the right investment portfolio for your future. Carla Rayman, GRI, CIPS, TRC, e-PRO - Patricia Tan, GR,. CIPS, TRC www.YourGlobalAgents.com

INTERNATIONAL REAL ESTATE

While Miami had a record sales month, possibly due to the fact that their prices were down 41% from January 2010–the highest percentage change across the state. The Pensacola market, up 53% in sales, followed Miami for the next highest median price decrease (40%) on an annual basis.

Foreclosures and other distressed properties, while seemingly less this year than last, tend to distort the median sales price in most market areas. Buyers are continually disappointed to find that the great deals of 2009 into early 2010 are long gone. Properties on the market today are priced at 40-60% off the 2005-2007 market values. In older neighborhoods, or highly coveted areas, pricing has remained consistent and in some cases increasing. The most important thing for buyers to note is that all cities and neighborhoods are different – prices due to demand and location can vary greatly.

FLORIDA HOMES MAGAZINE

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Vol 3 Issue 2 Florida Homes Magazine  

Florida Homes Magazine Florida Homes & Lifestyles Magazine is the go-to source for those seeking information and inspiration for all things...

Vol 3 Issue 2 Florida Homes Magazine  

Florida Homes Magazine Florida Homes & Lifestyles Magazine is the go-to source for those seeking information and inspiration for all things...

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