Feb. 9, 2021
Josh Garrett, Interim Communications Director
2021 NEFAR President
Healthy buyer demand and strong market fundamentals get 2021 off to a good start.
Available inventory continues to fall driving prices up 10.8%
Jacksonville, Fla. – January 2021 housing market reports for Northeast Florida are now available in the Market Stats section of NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
2021 looks to be an active year for new construction based on robust numbers from December. However, higher material costs and limited supply of building lots should temper the number of new units. Available inventory saw another steep decline in January decreasing by 51.6 percent topping December’s decline of 46.9 percent.
The Mortgage Bankers Association’s January research estimates approximately 2.7 million homeowners with mortgages are currently in forbearance plans. Some of these homes may eventually come to market, but given the strong appreciation in most market segments in recent years, these eventual home sales are likely to be mostly traditional sellers. However, a modest increase in short sales and foreclosures at some point this year would not be surprising.
January 2021 Highlights
- New Listings in the Northeast Florida region decreased 14.9 percent to 2,989.
- Pending Sales were up 17.9 percent to 2,970.
- Inventory levels fell 51.6 percent to 4,296 units.
- The Median Sales Price increased 10.8 percent to $256,995.
- Month Supply of Inventory was down 57.6 percent to 1.4 months.
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About NEFAR: 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 10,000 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 / realMLS. 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 realMLS, reports provided do not represent the full extent of Realtor sales in those counties.