Tampa Bay Real Estate Market Topped 2011 Florida Existing Home Sales Chart

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

The Tampa Bay real estate market took the biggest share of Florida’s total sales of existing homes in 2011, based on data compiled by Florida Realtors. More than 16 percent of the total sales of existing homes sold across Florida in 2011 were sales in the Tampa-St. Petersburg-Clearwater area. A total of 30, 425 existing single-family homes in the area were sold in 2011.

Here are the top performing metropolitan single-family markets in Florida in 2011, based on total of single-family units sold:

Tampa-St. Petersburg-Clearwater	30,425
Orlando	27,400
Fort Myers-Cape Coral	14,134
Jacksonville	13,807
Fort Lauderdale	12,817
West Palm Beach-Boca Raton	11,900
Sarasota-Bradenton	10,901
Miami	9,920
Daytona Beach	9,010

In 2010, the Tampa Bay real estate market was also the most popular, as it moved 28,773 units from listings to buyers’ hands, nearly 2,000 units more than Orlando’s sales of 26,808 units. All the top performers in the above list posted increases from 2010, except the Fort Myers area which posted a 6.7-percent drop in sales.

The metro areas with the highest rates of sales increases were Miami, which posted a rate of 36 percent; West Palm Beach-Boca Raton, with 24 percent; Fort Walton Beach, with 17 percent; and Panama City and Melbourne-Titusville-Palm Bay, both with 13 percent.

All in all, Florida sold 185,921 existing single-family homes in 2011, an increase of 7.8 percent from the 172,462 units sold in 2010. The Tampa area and Orlando accounted for 31.1 percent or nearly one-third of Florida’s total sales.

In terms of home prices, all metro areas except two continued to experience drops in median sales prices. The biggest year-over-year price drop was 15 percent, which was posted by the West Palm Beach-Boca Raton area, and the lowest was two percent, which was posted by Punta Gorda. The only two areas which did not experience a price drop were the Fort Myers-Cape Coral area and Fort Lauderdale. The Fort Myers area soared by 15 percent from $93,400 to $107,100 while Fort Lauderdale posted a price increase of four percent.

The market with the highest median sales price in 2011 was the West Palm Beach-Boca Raton area, even if it exhibited the biggest price decrease. In 2010, its median sales price was $228,900, far above the next highest median sales price, which was Miami’s median sales price of $189,400.

The median sales prices in 2011 in Florida’s metro areas are as follows:

West Palm Beach-Boca Raton	$193,700
Fort Lauderdale	$186,000
Fort Walton Beach	$180,200
Miami	$172,700
Tallahassee	$160,200
Sarasota-Bradenton	$152,000
Gainesville	$148,500
Panama City	$142,300
Pensacola	$134,600
Jacksonville	$131,200
Orlando	$125,200
Tampa-St. Petersburg-Clearwater	$120,600
Daytona Beach	$110,400
Fort Pierce-Port St. Lucie	$108,200
Fort Myers-Cape Coral	$107,100
Melbourne-Titusville-Palm Bay	$102,200
Punta Gorda	$97,500
Lakeland-Winter Haven	$93,400
Ocala	$79,500