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Allistair A. Trent Florida Market & Economy Fact, Opinion & Commentary.
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45 Harbour Square Toronto, ON. M5J 2S4 Tel: 416-203-6636 Fax: 416-203-1908
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For more information:
Allistair A. Trent, Sales Representative Office: 416-203-6636, Direct: 416-628-4835 a.trent@rogers.com
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Median Condo Prices in Florida Markets Since 2007 |
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Link to Full Chart and Base Data
Commentary—December, 2011
11 Months Price Growth – Is the Worst Behind ?
The November 2011 median condo sales prices show consistent and solid growth on the year to date major Florida markets.
In Tampa where most of out business is concentrated the November median price was $ 82,300, up from $ 66,100 in January 2011 for a gain of 24.51%
Onlando also showed string growthin recent months finishing at $ 59,700, up 19% from the $ 50,000 recorded in January.
Ft. Lauderdale backed off slightly in November to $ 75,700, still up 9.8% since January’s $ 68,900.
Miami has been less stable but is up 37% from January to November, $ 91,200 to $ 125,000.
Boca Raton however is up only 4% to $ 79,100 from 76,100 in January. Complete graph and data set of historical sales prices in these markets since 2007
With 11 months of solid growth, the worst seems to be behind the major urban centres (Miami, Tampa & Orlando). The more vacation oriented areas and south Florida while still up on the year are giving up earlier gains.
In Tampa there was a shortage of available investment grade product in the summer and fall of 2011. We have just started to see some attractive listings and foreclosed product come back.
2012 is supposed to be the start of the comeback according to the Chase Report (linked at right) and a number of other forecasts. For condos according to the statistics it might have already started. - Allistair A. Trent
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Data and Articles
Bureau of Labour
Profile of International Homebuyers in Florida National Association of Realtors
The State of Florida’s Economy J P Morgan Chase, Sept, 2011
Florida Existing Home, Condo Sales Rise in Q3 Florida Realtors |
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