June 11, 2014
Melanie Green, Communications Director
Voice (904) 394-9139
Fax (904) 398-8025
2014 NEFAR President
Voice (904) 626-9900
NEFAR's May 2014 Housing Sales Report
Median sales price is $159,000 with 2,044 closed sales. Year to date, 9,049 homes sold. Homes sales averaging 84 days.
JACKSONVILLE, Fla. - May's housing sales 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.
Median sales price for the month was $159,000; a 2.6 increase over May 2013 and higher than April's $154,990 median. Year to date, the median sales price is up 3.4 percent.
There were 2,044 closed sales, bringing the total sold in 2014 to 9,049; a 2.7 percent increase over the 8,811 sold year to date in 2013. The number of closed sales that were attributable to lender-mediated properties was 747 (36.5 percent), with 1,297 traditional sales making up the bulk of the mix.
New listings increased 18.5 percent over a year ago, with 3,215 properties being added to the market. This boosts inventory of homes for sale to 9,860; 1.1 percent more than a year ago. Month's supply of homes for sales now stands at 5.1, within the five- to six-months balanced market range.
Pending sales hit 2,467, which was a 23.1 percent increase over May 2013 and 10.8 percent increase year to date.
Homes continue to sell at a brisk pace, with the average days on market coming in at 84.
2014 NEFAR President Linda McMorrow says, "We are delighted that more sellers are entering the market to help accommodate buyer demand. Especially encouraging news is that only 23.1 percent (2,276) of the total inventory of homes for sale (9,860) are lender mediated properties."
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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