Sept. 13, 2019
Melanie Green, Communications Director
Voice (904) 394-9139
2019 NEFAR President
Median Price is $242,000 for 2,760 Northeast Florida August Home Sales.
Average sales price hits $290,754 as new listings drop 7.3% from a year ago and sales dip 4.9% year-over-year.
Jacksonville, Fla. – Northeast Florida August 2019 housing market reports are now posted by the Northeast Florida Association of Realtors on NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
For the third consecutive month, the median price for homes sold in Northeast Florida hovered at the $242,000 mark: $241,725 in July and $242,000 on the nose for both June and August. The August figure is 10% more than a year ago, when the median was $220,000.
The average sales price in August was significantly higher at $290,754, the second highest average within the past year (June was the highest at $297,256).
While prices increased, the number of sales declined to 2,760, a 4.9% drop from a year ago and less than the number of monthly sales within the past four months.
More than 15% of sales sold for an amount greater than their original listing price.
Homes sold in an average of 63 days.
Fewer home sellers entered the market in August, with only 3,495 new properties being added to inventory. These new listings were 7.3% less than a year ago. The greatest number of new listings in any month during the past year was 4,020 in May.
Total August inventory of homes for sale was 9,054, 10.5% less than a year ago. This equates to 3.4 months on hand, a 17.1% drop from a year ago.
2019 NEFAR President Jeanne Denton-Scheck said, “The key trends in Northeast Florida’s real estate market have changed little during the past year: less choices for buyers, at increasing prices, and a robust market for sellers.”
For these and many other real estate market statistics, take advantage of the FREE market reports available in the Market Stats section of this site. Three categories 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 reports provide a targeted look at lender-mediated sales and how they compare to traditional sales. 3) Annual Reports, from 2011 through 2018, give an extensive year in review, with comparisons from the four preceding years included.
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 9,000 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. * 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.
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