Nov. 13, 2019
Melanie Green, Communications Director
Voice (904) 394-9139
2019 NEFAR President
Number of Housing Sales Dips Slightly in October
$235,550 is the median sales price for the month, with 2,375 homes changing hands. Average sales price higher at $274,173.
Jacksonville, Fla. – October 2019 housing market reports for Northeast Florida are now available on NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
Homes sales in Northeast Florida closed out at 2,375, down 6.6% from a year ago and a drop from September’s 2,618 sales. Pending sales – those on which a contract has been placed but has not yet closed – were stronger at 2,639, up 6.3% from a year ago.
October’s median sales price was $235,550, little difference from September’s $235,000 median but 11.1% more than a median of $212,000 in October 2018.
As is typical, the average sales price was greater, reaching $274,173. This figure is up 4.1% from a year ago and also up from September’s $271,456 average. The amount of properties that sold over their original listing price was 11.5%.
Days on market until sale was an average of 66.
Inventory remains low at 8,807, nearly 12% less than a year ago. This equates to 3.3 months on hand. A balanced market is considered to be five- to six months of inventory.
Here is a closer look at the listing prices of the 8,807 homes in inventory:
- 2,438 priced below $200,000
- 2,390 – priced from $200,000 - $299,999
- 2,230 – priced from $300,000 - $499,999
- 1,261 – priced from $500,000 - $999,999
- 488 – priced at $1,000,000 or more
2019 NEFAR President Jeanne Denton-Scheck said, “The number of homes sold during the past two months has slowed a bit since spring, yet low inventory persists.”
For these and many other real estate market statistics, take advantage of the FREE market reports available in the Market Stats section of this site. Three categories 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 reports provide a targeted look at lender-mediated sales and how they compare to traditional sales. 3) Annual Reports, from 2011 through 2018, give an extensive year in review, with comparisons from the four preceding years included.
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.
# # #