7801 Deercreek Club Rd., Jacksonville, FL 32256

March 15, 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 Chill in Northeast Florida's February Housing Sales
Closed sales up nearly six percent over February 2015; median sales price $162,000. Inventory in extremely short supply.

JACKSONVILLE, Fla. – February 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.

Closed sales reached 1,782; nearly six percent higher than February 2015. Pending sales were up 11 percent over a year ago and topped out at 2,425.

A median sales price of $162,000 was 3.2 higher than last February’s $157,000 median but down slightly from January’s $165,000 median. Average sales price for the month was $200,803.

Sellers took advantage of the robust market and added 3,146 new listings to the mix. In the same-old-song-and-dance pattern, however, inventory of homes for sale isn’t keeping pace with demand. There were 9,027 homes in inventory at month end, equating to only 3.9 months’ worth, well below the five- to six-months that is considered a balanced market.

2016 NEFAR President Terrell Newberry said, “Spring is historically considered to be the start of the strongest buying and selling season, but there was no winter chill in Northeast Florida’s real estate market during February. We continue to experience buyer demand that is depleting inventory.”

Reminder! Check out our new county level reports for Baker, Clay, Duval, Nassau, Putnam and St. Johns (one page reports per county). The new county level summary reports are at the end of the Monthly Indicators report. You will also find new county level data for the same counties grouped at the top of the Lender Mediated Report.

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 more than 6,500 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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