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FLORIDA'S MEDIAN REAL ESTATE SALES PRICES UP SLIGHTLY IN FIRST QUARTER

 ORLANDO, Fla., May 5 /PRNewswire/ -- According to the Florida Association of Realtors (FAR), median sales prices for single-family existing homes increased slightly in 14 of Florida's metropolitan statistical areas (MSAs) during the first quarter of 1993 compared to the first quarter of 1992. Only four MSAs showed decreases in median sales prices and all decreases were minor, between $1,000 and $5,000.
 Median sales prices mark the exact middle of the homes sales market; half the homes sold for more and half sold for less. A change in median sales price does not necessarily mean a change in home values. Instead, it often reflects that homes of different characteristics are selling.
 FAR President Dale G. Jundt pointed out that because of low interest rates, buyers can afford more home for their money.
 Florida's largest increase occurred in the Fort Pierce MSA with an 8 percent gain. Five percent more homes in the $80,000 to $100,000 price range sold during the first quarter of 1993 compared with a year ago.
 The following chart shows 1993 first-quarter statistics vs. 1992 first-quarter statistics for Florida's 18 MSAs.
 Single-family Existing Home Median Sales Prices
 Metropolitan Statistical 1992 Qtr. 1 1993 Qtr. 1 1993 Qtr. 1
 Areas (MSAs) vs. 1992 Qtr. 1
 Fort Pierce $ 74,900 $ 81,100 8 pct.
 Gainesville 75,600 80,500 6 pct.
 Daytona Beach 63,600 67,700 6 pct.
 Ocala 51,800 55,100 6 pct.
 Pensacola 63,500 67,300 6 pct.
 Fort Lauderdale-Hollywood-
 Pompano Beach 94,500 99,600 5 pct.
 Naples 154,500 161,400 4 pct.
 Bradenton 80,800 84,300 4 pct.
 Tallahassee 83,000 86,400 4 pct.
 Lakeland-Winter Haven 63,800 66,300 4 pct.
 Jacksonville 77,100 77,700 1 pct.
 Melbourne-Titusville-
 Palm Bay 72,200 72,700 1 pct.
 Orlando 86,600 87,000 0 pct.
 Tampa-St. Petersburg-
 Clearwater 69,700 69,600 0 pct.
 Miami-Hialeah 98,800 97,700 - 1 pct.
 West Palm Beach-Boca
 Raton-Delray Beach 112,900 110,700 - 2 pct.
 Fort Myers-Cape Coral 89,200 86,300 - 3 pct.
 Sarasota 94,200 89,700 - 5 pct.
 NOTE: Median sales prices are the midpoint: half of the homes sold for more and half for less. Metropolitian statistical areas (MSAs) are defined by the U.S. Office of Management and Budget based on the 1980 Census. Sales are from the MLS only. Source: The Florida Association of Realtors.
 -0- 5/5/93
 /NOTE TO EDITOR: You may wish to use this in tandem with today's release from the National Association of Realtors.
 CONTACT: Jeff Zipper, vice president of communications of the Florida Association of Realtors, 407-438-1400, ext. 2314/


CO: Florida Association of Realtors ST: Florida IN: SU: ECO

JB-AW -- FL013 -- 5038 05/05/93 16:33 EDT
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Date:May 5, 1993
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