7801 Deercreek Club Rd., Jacksonville, FL 32256

May 12, 2015

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

2015 NEFAR President
Sally Suslak
Voice (904) 707-4373

NEFAR Releases April Real Estate Results
Robust spring season continues in April with 2,201 sales and median price increasing to $172,000. Low inventory still the name of the game.

JACKSONVILLE, Fla. - April 2015 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.

Spring is proving to be vigorous for real estate action in Northeast Florida. April's closed sales increased 9.9 percent from a year ago to reach 2,201 for the month, following March's 2,241 closed sales.

Demand is not waning as evidenced by 2,743 pending sales for the month; a 24 percent spike up from April 2014 and little change from March's 2,752 pending sales.

Prices gained traction with the April median hitting $172,000. This is up 11.2 percent from $154,700 a year ago and higher than last month's $160,000 median.

An additional 3,410 listings were added to the market by sellers during April. Despite the influx of additional properties, inventory finished the month at 9,664; a 12.9 percent drop from a year ago. This equates to 4.5 month’s supply of homes on hand, less than the five- to six months that is considered a balanced market. Inventory has been bumping along this track for months: March was also 4.5 months and January and February were both 4.6 months.

There were 12 percent of properties that sold for more than their original listing price, yet another indicator of powerful demand as home buyers escalate offers to more than what is being asked.

Days on market for the month was 91, up slightly from 89 days a year ago but little difference from 92 days in March and 90 days in February.

2015 NEFAR President Sally Suslak said, "While prices are increasing, Northeast Florida is still in a sweet spot in regards to affordability as 46 percent (4,479 properties) are listed for under $200,000 and 67 percent (6,453 properties) are listed for under $300,000."

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 and 2014 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 6,000 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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