7801 Deercreek Club Rd., Jacksonville, FL 32256

March 13, 2015

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

2015 NEFAR President
Sally Suslak
Voice (904) 707-4373

NEFAR's February 2015 Real Estate Results Posted
Median sales price is $158K for the month with 1,584 homes changing hands at a 90 days-on-market average. Inventory is less than desirable for a balanced market.

JACKSONVILLE, Fla. - February 2015 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.

Closed sales for the month topped out at 1,584; up from January's 1,396 sales but down five percent from February 2014. Pending sales remain strong with a 26.2 percent increase from a year ago to finish with 2,341 homes under contract.

A median sales price of $158,000 is 13.4 percent greater than last February and up from January's $145,500 median.

A low inventory of properties available for sale is a trend that continues, with only 4.6 months of supply on hand. This equates to a supply of 9,542 homes in February, which is 11.5 percent less than a year ago. Because of the supply versus demand, there were 12.1 percent of homes that sold for more than their original listing price.

Days on market averaged 90 days for both February 2014 and February 2015.

Lender mediated properties accounted for 37.6 percent of closed sales, but only 24.6 percent of new listings for the month were lender mediated and just 20.7 percent of the total inventory are lender mediated properties.

2015 NEFAR President Sally Suslak said, "More sellers entering the market to boost inventory would be ideal as the consumer demand is there, yet we are encouraged that the amount of lender mediated properties seems to be clearing out."

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, 2013 and 2014 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 6,000 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.

# # #