7801 Deercreek Club Rd., Jacksonville, FL 32256

Sept. 11, 2014

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

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

August 2014 Housing Sales Reflect Slight Summer Slowdown
1,996 homes changed hands at a median price of $158,500. Inventory of 9,756 (4.9 months' worth) is just below five- to six-months considered a balanced market. Less new listings are lender mediated sales.

JACKSONVILLE, Fla. - August 2014 housing sales 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.

The sluggishness of the dog days of summer seemed to be reflected in a slight slowdown in real estate sales as well. Dropping from July’s 2,104 closed sales, August had 1,996. Pending sales (those on which a contract was written but have not closed) came in at 2,305, another small dip from July’s 2,335 pendings.

A median sales price of $158,500 was up two percent year to date, but still lagging a tad behind July’s $166,964 median.

There were 2,759 new listings added to the market during August, yet inventory dropped to 9,758. This equates to 4.9 months supply of homes for sale (slightly less than the five- to six-months that is considered a balanced market).

Despite the small slowdown, 13.1 percent of sales were for more than the original listing price, reflecting continued competition for properties due to low inventory.

Of the 1,996 closed sales, 33.3 percent were lender mediated. The percentage of new listings hitting the market show a much lower percentage of lender mediated properties; 23.5 percent.

Within the 9,758 properties in inventory, roughly half (4,913) are prices below $200,000. On the other end of the spectrum, there are 334 homes in inventory priced at $1,000,000 or above.

2014 NEFAR President Linda McMorrow says, “Everything seemed to move a little slower during August, but closed sales are still up 5.5 percent year to date over 2013 and sales prices are up 3.4 percent year to date.”

For these and numerous other real estate market statistics, take advantage of the FREE market reports available on the 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.

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