Also Decreasing in November: Sales, Prices in Palm Beach, Broward

The Tampa Bay housing market wasn’t the only region to suffer last month.

Sales of existing homes and median prices in Palm Beach and Broward counties continued to fall in November, compared with November 2005 , the peak of the five-year South Florida housing boom.

In Palm Beach County, there were 525 sales of existing single-family homes last month, down 45 percent from the 952 homes sold in November a year ago. Broward County had 605 sales last month, a 23 percent decrease from the 788 sales in November 2005, according to figures released Thursday by the Florida Association of Realtors.

On an annual basis, median prices declined sharply last month in Palm Beach and Broward counties from record highs in November 2005. This should at least pave the way for more Florida home mortgage activity in the near future.

In Palm Beach County, the median home price was $370,400, down 12 percent from $421,500 a year ago. Broward County’s November median of $362,000 was down 7 percent, or $29,100, from the same month last year.

Condominium sales and prices remained soft, too. In Palm Beach County, there were 420 condo sales last month , down 23 percent compared with November 2005, but the median price rose $16,600, or 8 percent, to $219,800.

Broward’s condo sales fell to 560 in November , down 38 percent compared with the same month last year; the median price was flat at $199,700 compared with $198,900 a year ago.

Statewide, a total of 11,912 existing single-family homes were sold last month, a decrease of 30 percent from the 17,088 homes sold during the previous November. This time of year is traditionally slow for Florida home loan demand, however.