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Statewide Business Briefs - Jan. 2006
HOME SALES
Price Gains --
Through the first three quarters of 2005, 197,523 homes were sold in Florida, up 5% from 187,774 during the same period of 2004. The statewide median price rose 30% to $231,900 from $178,900. In Naples, the median price rose 40% to $472,300; in Ocala, homes rose 38% to $157,500; in Miami, the median price was up 28% to $371,200; and Jacksonville homes gained 15% to $187,100.
HURRICANES
Insurance Costs --
Citizens Property Insurance estimates it will take a $1.2-billion hit from Hurricane Wilma, creating a deficit that all Florida homeowners will have to pay for. The state's insurer of last resort says the surcharge for homeowners may be as high as 11% on this year's premiums. Citizens is also planning to raise rates an average of 15% for policy-holders it covers.
REAL ESTATE
Florida's Future --
With 1,000 people moving to Florida every day, the legislatively appointed Century Commission for a Sustainable Florida has been charged with coming up with ideas to tackle growth management challenges. The group, chaired by St. Petersburg Mayor Rick Baker, will issue its first report in a year. The panel will serve as a "repository of ideas," says Baker, and take into account everything from what sort of jobs Floridians should have to how to best preserve green space.
