7801 Deercreek Club Rd., Jacksonville, FL 32256

April 11, 2014

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

2014 NEFAR President
Linda McMorrow
Voice (904) 626-9900

March 2014 Real Estate Sales Results From NEFAR

1,781 closed sales for the month with median price of $159,000. Days on market until sale averaging 89.

JACKSONVILLE, Fla. - March 2014 real estate sales and activity is now available from the Northeast Florida Association of Realtors on NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

Closed sales came in at 1,781 for the month, dipping 1.8 percent from a year ago but up four percent year to date. Pending sales, those on which a contract has been written but have not closed, showed stronger momentum by jumping 15 percent over last March to reach 2,333. Year to date, pending sales are up 11.3 percent.

Lender mediated properties accounted for 697 (39.1 percent) of total sales, while 1,084 traditional sales made up the bulk of the mix.

The median sales price was $159,000; up 12.4 percent from a year ago and 2.2 percent higher year to date. There were 11.8 percent of properties that sold above the listed price.

There were 3,075 new listings added to inventory during March; 12.1 percent more than last March. Of those, 2,185 are traditional sales type and only 890 (28.9 percent) are lender mediated.

The influx of new listings did little to bolster the overall supply level, with inventory settling at 9,441 - 2.6 percent less than a year ago. Months' supply of homes for sale equates to 4.9, 16.9 percent less than March 2013.

Properties are selling briskly, averaging 89 days on market until sale.

2014 NEFAR President Linda McMorrow says, "Competition for a reduced inventory of properties continues to be a significant factor in Northeast Florida's housing sales. Buyers can still get a lot of bang for their home buying buck, though, as more than half of the properties in inventory (5,122) are priced below $200,000."

For these and numerous other real estate market statistics, take advantage of the FREE market reports available on the Newsroom | 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 and 2013 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 5,000 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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