Aug. 14, 2019
Melanie Green, Communications Director
Voice (904) 394-9139
2019 NEFAR President
Strong Sales Prices Benefit Sellers in July
2,820 homes sell in July, with a $242,000 median price (second month in a row). Average sales price is $283,038.
Jacksonville, Fla. – Local July 2019 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.
Despite the heat, real estate activity wasn’t sluggish in July. There were 2,820 homes sold, notching up 1.4% from last July, but dropping from 2,977 sales last month.
For the second consecutive month, the median sales price was $242,000, a 5.2% increase from a year ago. The average sales price was higher, at $283,038, also higher than last July by 3.1%.
The robust pricing resulted in 13.5% of sales going for more than their original listed price, as home buyers upped the ante with competing offers.
Homes sold in an average of 63 days, the same timeframe as June.
There were 3,593 new properties added to the market in July, more than last month but a 6.3% drop from a year ago.
Inventory was 9,173 properties, or 7.4% less than last year. This equates to 3.5 months of properties on hand.
2019 NEFAR President Jeanne Denton-Scheck said, “Rising prices and ongoing low inventory are advantageous for sellers, while making the search and buying process more competitive for buyers.”
For these and many other real estate market statistics, take advantage of the FREE market reports available in the Market Stats section of this site. Three categories 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 reports provide a targeted look at lender-mediated sales and how they compare to traditional sales. 3) Annual Reports, from 2011 through 2018, give an extensive year in review, with comparisons from the four preceding years included.
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 9,000 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. * 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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