7801 Deercreek Club Rd., Jacksonville, FL 32256



Dec. 14, 2018

Staff Contact
Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9139
Fax (904) 398-8025

2018 NEFAR President
Charles "Ben" Bates
BenBates@ColdwellBanker.com
Voice (386) 328-6716



November Real Estate Wrap-Up: Northeast Florida
Sales taking place in an average of 61 days, with a median price of $216,000 and average price of $258,803.

Jacksonville, Fla. – November 2018 housing market reports for Northeast Florida are 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.

Home sales cooled a bit in November, dropping 2.9 percent from a year ago to settle at 2,173. This number is also down from October’s 2,466 sales.

While number of sales declined, prices were on the increase, with $216,000 being the median price for the month. This is 3.8 percent more than a year ago. Median prices are up 7.8 percent year to date. The average sales price was higher, reaching $258,803, or 3.4 percent more than November 2017.

There were 2,911 new listings added to the market in November, up 12.1 percent from a year ago, but down from 3,420 last month.

The amount of homes in inventory at month end was 9,132 – equating to 3.6 months on hand – still sharply below the five- to six-months inventory that is considered a balanced market.

Due to the low inventory, interested potential buyers continue to submit offers in a competitive bidding situation, in an attempt to gain the home of their choice. As a result, 13.2 percent of homes sold in November were for more than their original listing price.

Days on market until sale was 61 days on average.

2018 NEFAR President Ben Bates said, “There were 2,191 pending sales in November, meaning that a contract to buy had been signed, so the demand for a piece of the American Dream is still evident in Northeast Florida.”

For these and numerous other real estate market statistics, take advantage of the FREE market reports available on NEFAR.com (Market Stats icon). Three categories of 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 from 2011 through 2017 are are available - give an extensive year in review, with comparisons from the four preceding years included.

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 through 2016 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.

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.