March 17, 2014
Melanie Green, Communications Director
Voice (904) 394-9139
Fax (904) 398-8025
2014 NEFAR President
Voice (904) 626-9900
NEFAR Releases February 2014 Housing Sales Results
Fewer new listings are lender mediated, median prices and closed sales nudge upward, inventory still low.
JACKSONVILLE, Fla. - February 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.
There were 2,728 new listings added to inventory in February; an 11.9 percent increase over February 2013. Despite the jump in sellers deciding that now is the time to make their move, overall inventory fell 3.5 percent year over year to come in at 9,324 homes. The reduced inventory equates to just 4.9 months supply.
Closed sales increased 1.7 percent year over year, with 1,550 sales taking place in February. The closed sales mix for the month was 851 traditional and 699 lender mediated (45.1 percent lender mediated).
Median sales price for all of February sales was $138,743, nudging up slightly from last February’s $137,050. The median sales price varied markedly between the two sales types, however: $192,750 for traditional sales and $76,100 for lender mediated sales.
Interest in buying a home continues to be high, indicated by 2,076 pending sales for the month; a 14.1 percent increase over the 1,819 pending sales of February 2013.
2014 NEFAR President Linda McMorrow says, "New listings coming onto the market are more traditional sales, less lender mediated. Of the 2,728 new listings in February, just 34.7 percent (946) were lender mediated while 1,782 were traditional. This is positive news that bodes well for Northeast Florida's future."
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.
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