According to data collated, Florida saw a rise in closed sales, pending sales and median prices in 2012 from the previous year.
Closed sales of single-family homes totaled 204,414 in 2012 across the state, which is a 8.5% rise compared with the year before. This is according to data released from Florida Realtors Industry Data and Analysis department.
The fourth quarter of 2012 revealed significant growth, with closed sales of single-family properties totaling at 52,624 and representing a 21.2% rise from the same period last year. Pending sales of single-family homes also experienced a 17.6% rise in 2012 compared to statistics from 2011.
Median sales prices for single-family existing homes in 2012 increased by 9%, taking the figure to $145,000. Again the fourth quarter revealed the most significant rise in value, with the average for this period standing at $150,000, which was an 11.1% increase from the fourth quarter of 2011.
The 2013 Florida Realtors president, Dean Asher, stated: "Throughout 2012, we've seen increasingly strong signs that the state's housing market is in solid recovery". He cited varying factors that have encouraged the growth of the state's real estate recovery, such as strong job creation and low interest rates on mortgages.
Asher went on to say: "These positive fundamentals in the housing sector continue to attract potential homeowners and investors; however, they're facing a limited inventory of available for-sale homes in many areas".
The data comes amid a surge of evidence supporting claims that the Sunshine State's real estate market is heating up. Although concerns of a decreasing inventory are being echoed throughout the industry, some experts are predicting the emergence of properties currently caught up in the drawn out foreclosure process.
