7801 Deercreek Club Rd., Jacksonville, FL 32256

Aug. 11, 2015

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

2015 NEFAR President
Sally Suslak
Voice (904) 707-4373

Northeast Florida Housing Sales Top 2,500 for Second Consecutive Month
$181,000 was the median price in July with 2,534 homes being sold. Average days on market is 78. Inventory low despite 3,733 new home listings in July. .

JACKSONVILLE, Fla. – July 2015 housing sales 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 robust 2,534 closed sales finished the month (2,174 single family, 360 condo-townhomes). July sales were 13.5 percent more than July 2014.

July marks the second consecutive month in which closed sales exceeded 2,500. June's 2,587 closed sales were the highest monthly number of closed sales on record for NEFAR. Preceding that, more than 2,200 sales per month took place in March, April and May.

Strong interest in buying a home was demonstrated by 2,661 pending sales. Pending sales are those on which a contract has been signed, but the sale has not yet closed.

Median sales price was $181,000, up 9.1 percent from a year ago but down slightly from June's $183,590.

Although sellers added 3,373 homes to the market in July, the intense volume of spring and summer sales in Northeast Florida have substantially depleted inventory to below normal levels. At month end, there were 9,722 properties in the hopper, equating to 4.4 months of inventory. A balanced market is considered five- to six=month’s worth.

Of that 9,722 properties in inventory, 4,435 (45.6 percent) are listed below $200,000 and 6,494 (66.7 percent) are listed below $300,000.

The pace of home sales picked up a bit, with days on market averaging 78; a 3.7 percent drop from a year ago.

On the seller's end of the transaction, 94.3 percent received their original asking price.

NEFAR President Sally Suslak said, "Northeast Florida's July real estate activity reflects a trend that we have seen for the bulk of this year: a sizeable volume of sales, diminished inventory, increasing prices and fairly rapid sales. It's an opportune time for home sellers in Northeast Florida."

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, 2012, 2013 and 2014 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 6,000 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.

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