No one ever lived in this unit. This is a great opportunity to finally make your dream come true. You can rent this unit for $1,500 per month or purchase it for $360,000.

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For the state of Florida, sales of existing homes dropped 34%, and the median price fell $13,100, to $237,000, from a year ago.

Nationally, sales decreased in May to their lowest levels in four years while the median price dropped for the 10th consecutive month.

The median Manhattan condo or co-op apartment sold for between $840,000 and $895,000 during the three months ended June 30. According to Prudential Douglas Elliman, a four-bedroom apartment averaged approximately $10M.

What’s pushing the luxury market in NYC? According to the realtors, its three groups: Wall Street managers and bankers, overseas buyers and parents of college students.

1. Tampa FL
2. Minneapolis, MN
3. Miami, fL
4. Kansas City, MO
5. Chicago, IL
6. Phoenix, AZ
7. San Diego, CA
8. Milwaukee, WI
9. New York, NY
10. Atlanta, GA

Forbes performed a comprehensive study using data from Moody’s Economy.com and the NAR. They looked at a variety of vactors including a city’s supply versus demand ratio, current sales rates, changes in those rates and price stability.

Other good locations for selling a home:

Driving the market’s positive, steady growth are several facotrs including strong job and population growth, a relatively low unemployment rate (under 4%), and a market which never experienced the rapid run-up on prices that many overheated markets did.

Seattle can puff out its chest a little more at another good piece of news. With the national median house price currently sitting at $212,300, Seattle can also say that it was the only market where single family houses were priced well above that average.

The Pinellas County Property Appraiser’s Office puts the market value of Geiger’s estate and an adjacent piece of property at $11-million, based on other sales from 2004-2005. The property tax bill for the estate would be more than $177, 000 – a year.

The real estate agent handling the property is quoted as saying its “a perfect house for a couple who entertains”. Unfortunately, it may not be the perfect place to raise kids. Geiger who has one small child and who’s girlfriend is expecting another are selling because the estate is not really “baby-friendly”.

Housing inventories also continue to rise. The number of houses on the market reached a 15-year high at almost nine months of sales volumes, a 5% increase over the previous month. On average, prices have been cut by $223,700, a 2.1% year-over-year decline which is also the tenth straight month of price declines.

Closed escrow sales of existing, single-family detached homes totaled 366,370 at a seasonally adjusted annualized rate. Statewide home resale activity decreased 25% from the 488,260 sales pace recorded in May 2006.

The median price of an existing, single-family detached home in California was $591,180, a 4.8% increase over the revised $563,860 median for May 2006. The May 2007 median price decreased 1.1% compared with April’s revised $597,640 median price.

Other Highlights of C.A.R.’s resale housing figures for May 2007:

Alex Beuzelin, Senior Market Analyst with Ruesch International is quoted as saying, “The housing starts number was not as bad as anticipated and in addition the permits component came out stronger than expected. On balance while the report does not yet make the case we are out of the woods, it does suggest that the inventory drawdown is running its course and points to stabilization in housing. Simply put, it will tend to temper some of the downside risks from the housing sector which reinforces the view that the Fed will not need to cut rates. This supports the U.S. dollar.”