U.S. Existing-Home Sales at Highest Pace in 9 Years

See how Flagler County compares to the U.S. and Florida May home sales. As usual, we are the most affordable; 5.0% below the state median and 12.9% below the national median.

PALM COAST, FL – June 22, 2016 – May home sales were released today by both Florida Realtors® and National Association of Realtors®. As in the past, the median price of a single-family home in Flagler County is less than in Florida overall (-5.0%) and in the U.S. (-12.9%).

Here is how Flagler County stacks up:

Homes sold May 2016 vs. May 2015 (percentage change)

  • Flagler 4.1%
  • Florida – 4.5%
  • U.S. – 4.5%

Median selling price for single-family homes

  • Flagler – $210,000
  • Florida – $221,050
  • U.S. – $241,000

Percent paid in cash

  • Flagler – 41.1%
  • Florida – 29.1%
  • U.S. – 22.0%

Short Sale percentage

  • Flagler – 0.9%
  • Florida – 2.3%
  • U.S. – 1.0%

Foreclosure sales

  • Flagler – 4.8%
  • Florida – 9.4%
  • U.S. – 5.0%

Regional Snapshot

Here’s how existing-home sales fared across the country in May:

  • Northeast: existing-home sales rose 4.1 percent to an annual rate of 770,000, and are now 11.6 percent above a year ago. Median price: $268,600, which is 0.1 percent below May 2015.
  • Midwest: existing-home sales fell 6.5 percent to an annual rate of 1.3 million in May but are still 3.2 percent higher than a year ago. Median price: $190,000, up 4.8 percent from a year ago.
  • South: existing-home sales rose 4.6 percent to an annual rate of 2.28 million in May and are now 6.5 percent above a year ago. Median price: $211,500, up 5.9 percent from a year ago.
  • West: existing-home sales climbed 5.4 percent to an annual rate of 1.18 million in May but are still 1.7 percent lower than a year ago. Median price: $346,900, which is 7.7 percent above a year ago.

Note: U.S. "existing home sales" in the regional analysis includes single-family homes, townhomes, condominiums and co-oops.

U.S. Home Sales Infographic

May 2016 home sales infographic

1 reply
  1. George Edward Chuddy
    George Edward Chuddy says:

    Last Century and this Century compare and constras

    For the newer Palm Coasters should you want to do a compare and contrast.

    The State of Palm Coast 1987


    On February 4, 1987, ITT Community Development Corporation President Jim Gardner delivered his State of Palm Coast address to the Palm Coast Civic Association. He reported ” nothing but good news,” and included in that category were challenges ahead for ITT-CDC and local citizens. Here are excerpts:

    : The taxable value of the Palm Coast Service District has increased almost 600 percent since 1980, from $ 102 million to $ 566 million at the end of 1986. During that time the population increased from about 4,500 to almost 10,000 today. In other words, while the population has doubled, the assessed value for tax purposes has increased almost six times. Economic growth is the primary reason…bringing in more tax revenues without additional burden on residents…
    Palm Coast’s emerging personality is a combination of out company’s activity and the strong, ongoing commitment of residents and local government…Palm Coast has matured to the state where responsibilities for public services are being picked up by the public a sign of a healthy, progressive community…
    For years, CDC was the only game in town. That isn’t true anymore. We have a good balance here now…industry, recreation, outside businesses coming in, healthy competition in the marketplace, government facilities, public services, schools, activities and residents who are making a difference. We remain the major catalyst, but our involvement in the running of this community is diminishing, as Palm Coast residents move toward self-government and self-reliance…
    Palm Coast citizens are moving ahead on many fronts…

    The quality of our school system, the physical plant, the instructional staff, are all expanding because the citizens perceived the need and were willing to meet it:

    A group of citizens bucked the many obstacles and went doggedly ahead to create from their own pockets and sweat a new rifle and archery range available to the public;

    The Service District Advisory Council, the fire department and county staff are engaged with us in a program to establish a new central fire station west of I-95;

    The Civic Association is completing work on a major expansion of the RV storage compound–a place that allows the community to enforce rules against parking of vehicles in residential areas;

    The Humane Society is pushing for expansion of its center;

    The Chamber of Commerce has started work on its new headquarters building;

    A group of citizens is involved in an intensive study of our local governments with a full public review planned…so we can mutually decide on what our government should be in the future;

    The Civic Association has joined in seeking tougher enforcement of the covenants and restrictions that help to assure our high quality of life;

    And the Civic Association is getting primed to initiate a community wide cleanup effort so that the hunkers, refuse dumpers and garden-variety litterbugs will, where possible, be prosecuted, and citizens will be enlisted to help clean up their own neighborhoods.

    The list could go on and on, for with every new project completion, another gets started.
    I’d also like to take a look into the crystal ball for 1987 with these predictions:

    1,300 new residents are expected to arrive;
    FAA classes will begin in the fall;
    Construction on the bridge will be well underway;
    You’ll be shopping and dining out at St. Joe Plaza, eating chicken from The Colonel, seeing Wal-Mart nearing completion, stopping by two Lil’ Champ stores, taking pets to a new vet clinic, visiting doctors, dentists and professionals at the new office building on Old Kings Road;

    Preliminary work on our fourth golf course in Cypress Knoll will start;

    Wadsworth Elementary School will open its doors this fall.

    There will be many others, but suffice to say Palm Coast is booming, and tomorrow looks to be even better thank today.”
    ( Palm Coaster Spring 1987, p. 16. )

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