March 12, 2020
Melanie Green, Communications Director
Voice (904) 394-9139
2020 NEFAR President
February Real Estate Snapshot: Prices Moving Up, Inventory 17.2% Less Than A Year Ago
2,201 homes change hands with a median price of $239,700 and average price of $287,068. Homes selling in an average of 73 days.
Jacksonville, Fla. – February 2020 real estate market reports for Northeast Florida are now available on the Market Stats tab of NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
After the typical January slump in number of sales (1,893), February notched upward to finalize at 2,201 sales, up 4.1% from the prior February.
Sales prices were on the upswing. The median sales price was $239,700, up from $230,000 in January and a 6.6% increase over February 2019’s $224,900. The $287,068 average sales price was up 12.2% from a year ago, and more than January’s $272,856.
There were 3,282 new listings added to the market, or 3% less than 3,383 new listings a year ago.
An inventory of 7,949 homes at month-end was a 17.2% nosedive from 9,600 units in February 2019 and the lowest inventory in more than a year. The 7,949 homes for sale are broken down into price ranges as follows:
- 2,107 priced below $200,000
- 2,062 priced between $200,000 - $299,999
- 2,168 priced between $300,000 - $499,999
- 1,176 priced between $500,000 – $999,999
- 436 priced at $1,000,000 or more.
Months’ supply of homes was 2.9, down 23.7% from 3.8 a year ago.
Days on market average for the month was 73, little difference from 74 days in January and 71 days in December, but down slightly from 76 days a year ago.
2020 NEFAR President Ron Harris said, “In a time where both interest rates and inventory are exceedingly low, it will be interesting to see how the real estate market will play out as a result of first-time buyers who want to take advantage of the low rates, and homeowners who decide to refinance versus viewing the low rates as a catalyst to sell and make their move into a different home.”
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 9,000 members working in multiple 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. * 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.
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