July 12, 2017
Melanie Green, Communications Director
Voice (904) 394-9139
Fax (904) 398-8025
2017 NEFAR President
Voice (904) 662-3400
June Another Hote Month for Northeast Florida Real Estate Sales
2,708 homes sold with median sales price increasing to $215,000. Low inventory trend continues.
Jacksonville, Fla. – June 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.
Northeast Florida experienced another hot market for real estate sales in June, with 2,708 homes changing hands. This number was up slightly from 2,693 sales in May, but down 6.7 percent from 2,902 sales a year ago.
While 3,393 sellers added properties to inventory, robust sales didn’t let inventory rise above the 3.5 months-on hand mark; well below a balanced inventory of five- to six-months. Overall inventory at month end was 8,364, down a significant 20.8 percent from -10,557 in inventory in June 2016.
Competition for properties continues to push prices up. The median sales price in June was $215,000, 9.7 percent more than June 2016 and a 10.1 percent jump year-to-date. The average sales price in June was even higher; $258,376. As a result of the competitive offers from buyers, 12.6 percent of sales were for more than the original listing price.
Homes sold rapidly in June, with an average 67 days on market.
2017 NEFAR President Marc Jernigan said, “Despite it being a seller’s market, there’s simply not enough homes being added to the market to keep up with the level of demand. With 2,741 pending sales in June, the American dream of homeownership isn’t waning.”
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.
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