Local Real Estate Sales Still Poor

Housing sales are still showing a decline here in Florida. The third quarter numbers are out, but they aren't as bad as they were earlier in the year.

Ft. Walton Beach and Panama City were both down 24 percent this year compared with the third quarter last year. Tallahassee was down 11 percent, and Pensacola showed a drop of 14 percent in the number of single-family existing homes that were sold.

The median selling price of single-family homes statewide during the third quarter was about the same as it was in 2005.

Prices all dropped five to six percent in Ft. Walton Beach, Panama City and Pensacola. But they actually rose in Tallahassee by about four percent.

The existing condominium market continues to be a big concern here in the panhandle. Statewide condo sales were down 41 percent during the third quarter, Ft. Walton Beach and Panama City led the state with 55 percent, the biggest percentage drop. Once again, Tallahassee actually showed a gain in sales.

And the median selling price for condos is also down far more here in the Panhandle than in other areas of the state.

The figures came from the Florida Realtors Association.


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