7801 Deercreek Club Rd., Jacksonville, FL 32256

Jan. 11, 2017

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

2017 NEFAR President
Marc Jernigan
Voice (904) 662-3400

27,873 Home Sales in 2016 Largest Since 2006
Despite low inventory throughout the year, NEFAR members brokered sales of 27,873 homes for a median sales price of $185,000.

Jacksonville, Fla. – December 2016 and 2016 annual 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.

December 2016 Highlights

• 2,189 sales for the month, down 4.5 percent from a year ago
• 78 days on market average, a 7.1 percent quicker timeframe than 84 days a year ago
• median sales price of $195,068
• average sales price of $231,870
• inventory of homes was 7,699, 20.4 percent less than the 9,688 in December 2015
• pending sales were 1,955 or 3.5 percent more than last December
• 2,032 sellers added homes to inventory (4.3 percent less than last December), yet supply on hand was only 3.3 (far less than the five- to six-months that is considered a balanced market)

2016 Annual Report Highlights
• closed sales hit 27,873; the greatest number of homes sales in Northeast Florida since 2006 (there were 26,861 sales in 2015)
• average days on market for the year was 76
• median sales price for the year was $185,000
• average sales price for the year was $227,298
• 36,122 sellers added homes to inventory in 2016
• The five areas who saw the largest percentage of positive change in closed sales from 2015 were: 1) Ponte Vedra / Nocatee in St. Johns County; 2) St. Johns County Northeast; 3) St. Johns County Southeast; 4) Putnam County South; 5) Nassau County.
• Areas that saw the largest increase in median sales price from 2015 were: 1) Springfield / Downtown / Paxon / Trout River South / Downtown Jacksonville East; 2) Hyde Grove / Murray Hill / Lakeshore / Wesconnett; 3) Putnam County South; 4) Green Cove Springs; 5) Keystone Heights vicinity

2017 NEFAR President Marc Jernigan said, “Inventory has bumped along well below normal throughout 2016, but the final sales tally is remarkably strong. It’s an indicator of the significant strength of home buyer demand in Northeast Florida.”

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 through 2016 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 roughly 7,500 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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