Nov. 16, 2015

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

2015 NEFAR President
Sally Suslak
SallySuslak@juno.com
Voice (904) 707-4373


Slight Cooling Marks October's Northeast Florida Housing Sales
2,014 closed sales for month at $170,000 median price but no slowdown in pending sales. Low inventory a 2015 trend.

JACKSONVILLE, Fla. – October 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.

While 2,247 pending sales - a 10.3 percent increase over October 2014 - were strong for the month, the 2,014 closed sales were 1.6 percent less than a year ago. October is the first month since February that closed sales haven't exceeded 2,200

A $170,000 median sales price was up nearly five percent from a year ago but a little less than September's $173,000 median.

Sales closed in an average of 81 days; little difference from 83 days a year ago and a few days more than 76 days in September.

There were 2,938 homes added to inventory in October; slightly more than the 2,859 last October. Despite the new entries into the market, ending inventory for October was 9,499 or 4.2 months' worth. This amount is 25 percent less than October 2014 but a continuing trend of low inventory in 2015.

NEFAR President Sally Suslak said, "After markedly robust sales of 2,200 per month for the seven months prior, we experienced a little cooling of the market in October. With 2,247 contracts signed during the month, however, it's evident that home buyer's interest hasn’t substantially waned."

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.

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 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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