Several of my readers have approached me, after reading the article named “Real Estate Status in Central & South Florida”, where I gave my take on the Florida housing market trends across central and South Florida. They have asked me how Florida compare to the rest of the United States?

Well, today I did just that. I have used as sources of data, both the National Association of Realtors® (NAR) to obtain the national market sales data and the Florida Realtors® to obtain the state market sales data.

I have taken the figures from both the National Association of Realtors® as well as the Florida Realtors®, and I have made my own interpretations.

Please note that closed sales in December 2013, national versus Florida, tell us two very different stories. Nationally, closed sales fell 0.6%, while in Florida closed sales increased by 8.6%. Meanwhile the median sales price for the United States versus Florida both increased by 11.4% and 11.5%, respectively. Yet, the median sales price for the United States is $197,100 versus Florida which is $172,630. This indicates that the median sales price for Florida is 14.2% lower than that of the United States. Personal opinion, Florida is a great place to buy real estate, but I may be biased!

The rest of the information provided herein, is for completeness of this data analysis and for your perusal.

According to the National Association of Realtors (NAR), the national market sales data tells us:

• Closed Sales in December 2013 fell 0.6% from December 2012. Yet, for ALL of 2013, the total sales increased 9.1% higher sales than that of ALL of 2012.
• New Pending Sales have increased 0.2%.
• Median Sales Price for existing homes is up 11.5% to $197,100 from December 2012. Strongest gain since 2005 when it rose 12.4%
• Median Days on the Market in December 2013 is 72 days down from 73 days in December 2012. Short sales stay in the market a median of 122 days while, foreclosures typically sold in 67 days and traditional home sales took 70 days.
• Monthly Supply of Inventory increased 0.1%; which represents a 4.6-month in December 2013 from December 2012.
• Distressed Sales: were down 10% from 24% in December 2012. This reduction accounts for the median sales price increase.

 Meanwhile in Florida the story is slightly different. A quick recap of the Florida Residential Report December 2013 compared to December 2012:

• Closed Sales are up 8.6% for the month of December 2013 compared December 2012, with a decrease in cash sales by 1.9% compared to December 2012.
• New Pending Sales are up 14.8% and New Listings are up 13.0%.
• Median Sales Price for Single Family Homes is up 11.4% compared to a year ago to an average of $172,630.
• Average Sales Price for Single Family Homes is up 3.0% compared to a year ago to an average of $253,274.
• Median Days on the Market are down 15.3%, to 50 days compared to 59 in December 2012.
• Months Supply of Inventory is up 0.1% to 5.5 months compared December 2012.
• Traditional Sales are up 23.3%, with a Median Sales Price of $205,000, up 8.5% from December 2012.
• Foreclosure/REO Sales are up 24.2%, with a Median Sales Price of $105,000, which remains the same as from December 2012.
• Short Sale Closings are down -45.1%, with a Median Sales Price of $135,700, up 13.1% from December 2012.

Please keep in mind that our primary business is real estate and that I do this blog to help all entrepreneurs out there to make it, to avoid some of the pitfalls that I have been through and even monetize it. Hence, if you are in the search, trying to dispose of properties or looking for property management services, please contact us to assist you. We have a vast network of Real Estate Agents, all over, that adhere to these concepts and have worked very hard to be the best at what they do. If I cannot help you personally, I can put you in touch with one of our affiliates to help and assist you. Thank you!