April 16, 2019
Staff Contact
Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9139
2019 NEFAR President
Jeanne Denton-Scheck
JDenton@DavidsonRealtyInc.com
(904) 868-6996
March Real Estate Recap - Northeast Florida
Number of sales largest since October 2018, but a 6.6% drop from last March. $229,900 median sales price and $267,500 average sales price both highest since July.
Jacksonville, Fla. – March 2019 housing market reports for Northeast Florida are now available from the Northeast Florida Association of Realtors NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
March ushered in warmer weather and an uptick in sales in Northeast Florida’s real estate market. The 2,459 sales was the largest since October 2018, yet it was also a 6.6% drop from last March.
Sales prices were up. The $229,900 median price was the highest since July 2018 and a 2.2% increase from a year ago. The average sales price was $267,500, also the highest since July 2018, but an increase of just .1% from last March.
Homes sold briskly, in an average of 71 days.
With a scarcity of inventory, multiple offers are taking place in many cases, with the result that 15.4% of sales in March were for more than the original listing price.
There was a 3.6 months’ supply of homes in inventory, whereas five- to six-months is considered a market that is balanced between buyers and sellers.
2019 NEFAR President Jeanne Denton-Scheck said, “The pace of home sales in Northeast Florida is rapid, and a great situation for sellers, while buyers are having to be prepared to move quickly when they enter the market.”
For these and many other real estate market statistics, take advantage of the FREE market reports available NEFAR.com. 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.
About NEFAR
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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