7801 Deercreek Club Rd., Jacksonville, FL 32256

July 13, 2016

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

2016 NEFAR President
Terrell Newberry
Voice (904) 262-2121

No New Patterns Emerge in Northeast Florida's June Real Estate Market
Median price increases to $196,338 as 2,704 homes change hands. Inventory still below balanced market level.

JACKSONVILLE, Fla. – June 2016 Northeast Florida 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.

The median price for home sales in June was $196,338; an 8.5 percent jump from a year ago and an increase from May’s $193,000 median.

There were 2,704 sales during the month; down two percent from 2,758 in June 2015, but more than May’s 2,393 sales.

While sellers added 3,404 new homes to inventory, it wasn’t enough to push inventory higher than the 4.0 months mark (inventory in May was 3.9 months on hand). Closing inventory for June was 9,317 homes; a 15.1 percent decline from 10,968 in inventory in June 2015.

Days on market until sale was 74, down 8.6 percent from 81 days a year ago.

2016 NEFAR President Terrell Newberry said, "Northeast Florida’s real estate story in 2016 to date revolves around a few trends: a large volume of homes sold each month, median prices edging slowly up, and especially low inventory."

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, 2014 and 2015 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 nearly 7,000 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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