Home sales off in December; median prices also dip

Published: Friday, January 20, 2012 at 6:10 p.m.
Last Modified: Friday, January 20, 2012 at 6:10 p.m.

Gainesville single-family home sales leveled off last year while December sales showed little clue as to which way the market is heading, while median sales prices continued to decline, Florida Realtors reported Friday.

Condominium sales were strong last year, however, as investors took advantage of greatly reduced prices.

Statewide, home sales lost momentum in December but finished up for the third straight year while prices showed signs of stabilizing. The statewide condo market was also up for the year and median prices approached 2010 levels while finishing up in December.

In the Gainesville Metropolitan Statistical Area -- consisting of Alachua and Gilchrist counties -- Realtor sales of existing single-family homes increased 3 percent in December with 186 sales compared to 181 in December 2010 to finish the year flat at 1,976 compared to 1,970 in 2010.

Median sales prices ended the year at $140,000, down 2 percent from $142,500 in December 2010, to bring the annual total down to $148,500, an 8 percent drop from $161,700 in 2010.

Florida home sales dipped slightly in December with 15,290 sales, a 2 percent year-over-year drop, but were up 8 percent for the year with 185,921 sales. Median sales prices ended up for the year at $134,300, a 1 percent increase from December 2010, to bring the annual total to $131,700, down 3 percent from 2010.

Gainesville condo sales were up 20 percent for the year with 469 sales compared to 391 in 2010 and finished the year with 39 sales compared to 36 in December 2010. Median sales prices of $69,900 were down 24 percent from 2010's $91,400. Prices ended the year at $69,000, a 22 percent drop from $88,000 in December 2010.

Florida condo sales were up 15 percent for the year after finishing the year down 2 percent, while median prices were down 2 percent for the year, finishing at $88,300 after a 4 percent gain in December to $91,900.

U.S. sales of all housing types were up 1.7 percent for the year after December sales were up 5.0 percent over November and 3.6 percent over December 2010.

The national median sales price of $164,500 in December was a 2.5 percent drop from December 2010.

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