Jacksonville Florida Real Estate Market

Florida's housing market took a 4 percent drop in sales in 2008, according to the year-end housing data released by the Florida Association of Realtors.

The Jacksonville market suffered, too, with a 20 percent loss, but was buoyed by a strong December.

A total of 124,215 existing homes sold statewide compared to 129,855 homes sold statewide in 2007.

The price drop was dramatic: the median price for existing homes was $187,800 at year-end 2008; a year previously, it was $234,300 for a 20 percent decrease.

In the Jacksonville market, the prices were 8 percent less than 2007.

In the year-to-year comparison for existing condos, 37,797 units sold statewide in 2008, a decrease of 10 percent. The statewide existing condo median sales price was $164,400 compared to $205,200 for a 20 percent decrease.

The state closed on a strong note as existing home sales rose 27 percent in December with 11,053 compared to 8,712 in December 2007.

Florida Realtors also reported a 12 percent gain in statewide sales of existing condominiums in December.

Florida's median sales price for existing homes in December was $155,500; a year ago, it was $213,600 for a 27 percent decrease. In Florida's year-to-year comparison for condos, 3,138 units sold statewide compared to 2,814 sold in December 2007 for a 12 percent increase. The statewide existing condo median sales price last month was $130,600; in December 2007 it was $192,600 for a 32 percent decrease.

Taken from Realty Builder Connection