miami, FL (Reuters) – The biggest Florida real estate deals in 2017 will be announced on Friday, when the state’s real estate regulators will announce their latest real estate sales data.
The state’s biggest housing sales in 2017 are expected to total $29.6 billion, a 1.5 percent increase over 2016, and mark the biggest year-over-year growth in real estate values in Florida since at least 2010.
The numbers, from the state real estate commission, show that a whopping $9.7 billion in homes and condos were sold in the state in the first three months of the year, with another $5.9 billion sold over the next six months.
The commission’s release of its first-quarter 2017 sales figures will be the first official release of real estate data in more than a decade.
It’s a sign that Florida realtors have a renewed confidence in the market and that the pace of new sales is picking up, said Joel T. Pomerantz, an analyst with Sotheby’s International Realty, in Miami.
“The pace of home-buying is trending in the right direction, with demand rising as more buyers move into the market,” he said.
The biggest home sales in Florida, with the largest number of units sold, were in the Miami metro area, followed by Tampa, Orlando, Jacksonville and Gainesville.
The largest home-price increases were in Orlando, with a 5.6 percent increase in the $2 million to $2.9 million price range.
The number of sales rose 2.4 percent in Jacksonville, and 6.3 percent in Tampa.
The sales numbers were in line with the median price for all of Florida in 2016.
The second-largest home-sale increase in Florida was in Jacksonville with a 2.7 percent increase.
It was followed by Gainesville, which saw a 4.2 percent increase and Tallahassee, which rose 3.5.
Sales of condominiums in Florida increased 3.6 times in the year-ago period, while sales of single-family homes in Florida went up 7.2 times.
The median price of a single-unit condo in Florida in 2017 was $5,957, according to the real estate agency’s data.
Condominiums accounted for $521.7 million of the state total sales, followed closely by single-home homes at $4,788, the data showed.
The home-value gains were in part a result of a weak economy, which was hurting the housing market in Florida.
The national economy has been strengthening recently and a number of states including Florida, Georgia and Texas have been reporting their strongest year-to-date sales numbers since at the beginning of the century.For more: https://www.floridapostaterealestate.com/news/news-releases/home-price-up-9-8-percent-miami-real-estate-reports/