7801 Deercreek Club Rd., Jacksonville, FL 32256

Dec. 13, 2016

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

2016 NEFAR President
Terrell Newberry
Voice (904) 262-2121

November Northeast Florida Real Estate Wrap: Low Inventory More of the Same
1,882 sales for the month with a median sales price of $181,000. Inventory down 21.7 percent from a year ago; only 3.6 months' worth on hand.

Jacksonville, Fla. – November 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.

A slight slowing of closed sales has taken place over the past couple of months in Northeast Florida, with November’s 1,882 sales being a bit lower than October’s 1,906 and September’s 2,261. Comparing year over year, however, November 2016 sales were up a small notch; 1.9 percent more than 1,847 in November 2015.

Median sales price for November was $181,000; again a small drop from the $184,900 median in October but up 9.9 percent from a year ago. The average sales price tracked higher, coming in at $223,071 for the month; a negligible difference from October’s $223,390.

Days on market during November was 70.

It’s the same old story in regards to inventory: well below normal. The 8,349 properties at month-end was a 20.1 percent drop from a year ago. Months’ supply was 3.6 for November; 21.7 percent lower than November 2015.

2016 NEFAR President Terrell Newberry said, “Greater demand than supply has been a prolonged state of affairs during 2016. Many buyers are upping their offers to gain their desired home and, as a result, nearly 12 percent of homes sold in November for more than their original listing price.”

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 nearly 7,500 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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