7801 Deercreek Club Rd., Jacksonville, FL 32256

Feb. 13, 2018

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

2018 NEFAR President
Charles "Ben" Bates
Voice (386) 328-6716

Northeast Florida January Real Estate Market
1,526 sales for a median price of $204,060 and little in inventory sums up the month.

Jacksonville, Fla. – January 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.

A much slower pace, typical for the month of January after a year-end rush, resulted in 1,526 homes being sold. This number was an 11.5 percent drop from a year ago.

Conversely, the $204,060 median sales price was a 16.6 percent increase from a year ago, although it was a slight drop from recent months: $211,650 in December and $209,000 in November. The average sales price came in higher, at $244,795. This marked a 12.5 percent increase over January 2017s average sales price.

Reduced inventory continues to be the name of the game. The 7,397 in inventory is down 17.5 percent from a year ago and represents just three months’ worth on hand. As a balanced market is between five- to six-months, potential buyers are finding far fewer homes from which to choose.

New listings added to the mix in January were also down, with only 2,942 homeowners deciding to list their home for sale – a four percent drop from 3,065 new listings in January 2017.

Homes sold quickly in January, within 70 days on average.

2018 NEFAR President Ben Bates said, “With homes selling quickly and a real shortage of properties available for sale, 2018 is starting out as a excellent time for homeowners who have been thinking about selling to make their move.”

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.

# # #