A Profile of Florida Real Estate
Posted: January 20, 2010
Florida real estate has certainly had its share of ups and downs over the past few years, making statistics on real estate a prime focus for realtors and consumers alike. Studies and surveys on real estate have been closely monitored and reviewed more than ever, to show whether the market is improving, or taking a turn for the worse. With the end of 2009 around the corner, here is a quick snapshot of Florida's real estate market for the year:
* Homebuyers
- 41% of homebuyers were first-time buyers, versus 47% nationwide
- 29% of homebuyers cited the desire to own their own home as their primary reason for buying
- The median income for first-time buyers came in at $59,300, while repeat buyers had an average of $73,100
- 16% of homebuyers bought a foreclosure, versus 10% nationally
* Purchased Homes
- 78% of buyers purchased a detached single-family home
- The median price of a Florida home (purchased) was approximately $176,000, versus $185,00 nationwide
- The average home purchased was built in 2000, and was 1,850 sq ft
* Searching for Homes
- Over one-third of homebuyers began their search online and looking for listings
- The average time frame to find a home was around 12 weeks, and buyers viewed an average of 15 homes before purchasing
* Sellers
- Approximately 85% of sellers used the services of a realtor
- Recent sellers sold their homes (on average) for 93% of the listing price
- 86% of sellers listed or advertised their property on the internet
- A whopping 84% of sellers reported that they would most likely use their real estate agent again, or recommend them to others
As always, please feel free to call me at 239-357-9558 with any of your real estate questions or needs. Rgds, Jay
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