July 13, 2018
Melanie Green, Communications Director
Voice (904) 394-9139
Fax (904) 398-8025
2018 NEFAR President
Charles "Ben" Bates
Voice (386) 328-6716
Northeast Florida's June Real Estate Report - Prices Increase, Home Sales Brisk
2,873 homes sold for a median price of $234,000. Homes selling in ann average of just 59 days.
Jacksonville, Fla. – June 2018 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 inventory hobbling along at record lows for an extended number of months, there were 2,873 homes that changed hands in June. This number was a 3.6 percent drop from a year ago but still one of the highest two months for sales this year.
Sales prices continue to increase as a result of the sharply reduced inventory and competition for available homes. Median price for the month was $234,900; a 10.3 percent increase over last June. Average price was even higher, at $282,008 – 9.8 percent more than a year ago. More than 12 percent of sales in June were for more than the original listing price.
Conversely, the amount of time in which homes are selling on average is decreasing. In June, homes sold in an average of 59 days, down from 66 days a year ago.
Inventory of homes for the month was 8,923, or 3.5 percent less than June 2017. With a balanced market considered to be between five- and six-months of supply available, June’s 3.6 months supply is far below that balanced range.
2018 NEFAR President Ben Bates said, “The seller’s market trend shows no sign of changing unless a strong and sustained influx of properties are added to the market. If ever there was a time for homeowners considering selling to make a move, it’s now.”
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 more than 8,000 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.