7801 Deercreek Club Rd., Jacksonville, FL 32256

May 14, 2014

Staff Contact
Melanie Green, Communications Director
Voice (904) 394-9139
Fax (904) 398-8025

2014 NEFAR President
Linda McMorrow
Voice (904) 626-9900

NEFAR's April 2014 Housing Sales Report
Median sales price is $154,990 while closed sales dip for month but up year to date. Sellers add 3,185 to inventory; five months now on hand.

JACKSONVILLE, Fla. - April 2014 real estate sales and activity is now available from the Northeast Florida Association of Realtors on NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

Key indicators for the month:

• Median sales price notched up two percent to reach $154,990. Year to date, the median sales price is up 2.6 percent.

• Closed sales dipped 4.3 percent with 1,901 homes changing hands. Year to date, closed sales are up three percent.

• More sellers are entering the market, with 3,185 new listings added; a 12.9 percent increase over last April's 2,821. Total inventory of homes on the market is 9,656.

• Homes sold in an average of 90 days.

• There was five months of supply of homes for sale; fitting into the five- to six-months that is considered a balanced market.

• Pending sales reached 2,439; a 14.2 increase over a year ago and up 10.1 percent year to date.

• Lender mediated sales accounted for 38.1 percent (724) of the mix while traditional sales (1,177) were predominant.

• The portion of new listings entering the market that were lender mediated was 27.8 percent.

• 13.7 percent of homes were sold for more than the listed price.

2014 NEFAR President Linda McMorrow says, "Sales prices are edging up slowly but the median price is quite reasonable. In fact, more than half of the 9,656 homes in inventory are priced below $200,000. Combine that with still low interest rates and it’s an attractive prospect for home shoppers."

For these and numerous other real estate market statistics, take advantage of the FREE market reports available on the Newsroom | Market Stats tab of NEFAR.com. Three reports are available: 1) The Monthly Indicators and Housing Supply Overview Report summarizes complete activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. 2) Lender Mediated sales reports offer a targeted look specifically at lender mediated sales and how they compare to traditional sales. 3) Annual Reports - 2011, 2012 and 2013 are available - give an extensive year in review, with comparisons from the four preceding years included.

*As all Nassau and St. Johns County Realtors are not participants of the NEFMLS; reports provided do not represent the full extent of Realtor sales in those counties.

The Northeast Florida Association of Realtors provides professional development, political advocacy, professional standards administration, media relations, and promotional activities and exchange of information among its members. NEFAR serves as the voice for real estate in northeast Florida; serving the public through efforts to protect private property rights and community affairs programs. NEFAR is Northeast Florida's largest professional association, comprising more than 5,000 members working in all facets of the real estate industry, including residential and commercial sales as well as property management. All statistics in NEFAR's reports are based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS). NEFAR is headquartered in Jacksonville, with satellite Service Centers in Orange Park, Jacksonville Beach, Palatka and World Golf Village.

# # #