July 11, 2019
Melanie Green, Communications Director
Voice (904) 394-9139
2019 NEFAR President
Price Spikes in Northeast Florida June Real Estate Sales
$241,000 is median sales price, $295,386 the average sales price, with 2,829 homes changing hands.
Jacksonville, Fla. – Local June 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.
There were 2,829 sales in June, down from more than 3,200 in May and an 8.5% drop from June 2018.
While the number of sales notched down, prices spiked to both the highest monthly median, and monthly average, point within the past 10 years, and likely the highest historically (NEFAR has tracked monthly sales since 2009). The median sales price was $241,000, up 2.6% from a year ago, while the average price was $295,386, up 5.2% from a year ago. Nearly 14% of properties during June sold for more than the original list price.
There were 3,467 new listings added to the market, 11.1% fewer than were added in June 2018.
The 9,226 homes in inventory was a 4.7% drop year-over-year. This equates to 3.5 months’ supply on hand.
Sales in June were completed in an average of 63 days.
2019 NEFAR President Jeanne Denton-Scheck said, “Despite some reports that the market has shifted to favor buyers, Northeast Florida’s low inventory, climbing prices, and frequently seen multiple offers for properties are a combination that still add up to a seller’s market.”
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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