New housing data released by Florida Realtors [1] shows a positive 2013 for closed and pending sales. The closed sales for existing single-family homes totaled 227,411, up 11.8 percent from 2012.
Pending sales figures were also positive, up 17.6 percent compared to 2012.
Data was compiled from the Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards and associations.
"Throughout 2013, the state's housing market has demonstrated it's in a solid recovery and gaining strength,"said Florida Realtors President, Sherri Meadows. "The positive fundamentals of Florida's housing sector continue into 2014. However, factors remain that could slow an even stronger economic recovery, such as limited inventories of for-sale homes in many areas, overly restrictive mortgage credit, rising interest rates, and concerns about the cost and availability of property and flood insurance."
The median sales price rose to $168,000, up 15.9 percent from the previous year.
Quarterly results were equally optimistic, with closed sales reflecting a 4.7 percent gain from the fourth quarter of 2012.
"We have seen all these numbers before in the monthly releases, but looking at them on a quarterly and annual basis allows for a better evaluation of the real estate market. The trends we have seen develop over the year—rising sales and prices, declining percentage of cash sales and stabilizing inventory—are confirmed in these statistics," said Dr. John Tuccillo, Florida Realtors Chief Economist.
The statewide single-family existing-home median price in the Q4 of 2013 was $170,000, up 13.3 percent from Q4 2012.