March 13, 2018
Melanie Green, Communications Director
Voice (904) 394-9139
Fax (904) 398-8025
2018 NEFAR President
Charles "Ben" Bates
Voice (386) 328-6716
Northeast Florida Real Estate Report for February
Median sales price is $215,005 and average price is $256,725. 1,778 homes changed hands during the month, in an average of just 73 days to close.
Jacksonville, Fla. – February 2018 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.
In welcome news, more homeowners entered into the seller’s realm in February, with 3,200 new listings being added to the market. This figure is 10.2 percent more new listings than in February 2017 and pushed the current inventory to 7,713, up very slightly from January’s 7,639. Overall, inventory is at 3.2 months’ worth – a nearly 16 percent drop from a year ago – and still well below the five- to six-months of inventory that is considered a balanced market.
There were 1,778 sales in February, down 4.3 percent from a year ago but up a bit from January’s 1,599. Pending sales of 2,358 were nearly identical to February 2017’s 2,356 pendings.
Median sales price for the month was $215,005; an 11.4 percent increase from a year ago. Average sales price was higher, reaching $256,725, or 12 percent more than a year ago.
Days on market until sale was 73, up a few days from last month but less than the 85 days average a year ago.
2018 NEFAR President Ben Bates said, “We can’t predict what will occur for the remainder of 2018, but seeing more homeowners join the ranks of home sellers and take advantage of the strong seller’s market is encouraging, and speaks well to our economy.”
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 more than 8,000 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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