7801 Deercreek Club Rd., Jacksonville, FL 32256

Feb. 10, 2017

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

2017 NEFAR President
Marc Jernigan
Voice (904) 662-3400

Northeast Florida Home Sales in January Reflect Typically Slower Month
Following end of the year rush, 1,603 homes changed hands with a $175,000 median sales price and 79 days to close average. Low inventory still in play.

Jacksonville, Fla. – January real estate market results 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.

Sales for the month topped out at 1,603; 3.4 percent less than January 2016. There was little difference in the number of pending sales between January of 2016 and 2017; 2,038 and 2,051, respectively.

Median sales price was $175,000; up more than six percent from last January, but down somewhat from the overall 2016 median of $185,000. January’s average sales price was $216,553. The average was also higher than January 2016’s $206,430, but again down from 2016s average, which was $227,298.

Days on market dropped six percent from last year’s 84 days to settle at 79 days average to close.

The big trend that dominated 2016, low inventory, has carried over into 2017. There were 3,016 new listings added in January, yet total inventory fell nearly 19 percent from a year ago to bottom out at 8,108, which equates to 3.5 months’ worth. Northeast Florida is well below the five- to six-months on hand that is considered a balanced market.

2017 NEFAR President Marc Jernigan said, “At the end of each year, there is always a rush by home buyers and sellers to close the sale. Following that, January is typically a much slower month and this year was no exception.”

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 roughly 7,500 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.