Oct. 14, 2019
Melanie Green, Communications Director
Voice (904) 394-9139
2019 NEFAR President
Northeast Florida's Housing Market Cools Slightly in September
2,500 homes change hands for a median price of $235,000. Average price higher at $272,154. Low inventory continues.
Jacksonville, Fla. – September 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.
As the year segued into fall, Northeast Florida’s housing market cooled very slightly in September. There were 2,500 home sales, a 7% jump from last September, but less than the number of sales for any month since March.
Home prices dipped a bit as well, with the median sales price coming in at $235,00 (June, July, and August hovered around a $242,000 median). The average sales price was higher at $272,154, but was the lowest average since March.
Despite the price drops, competition for available inventory remains a strong market factor, with 12.7% of homes being sold for more than their original listing price as a result.
Inventory of homes for sale dropped 11.9% from a year ago to reach 8,920. Of the 8,920 in inventory, 4,937 (55%) are currently priced below $300,000. Months’ supply of homes for sale is now at 3.4, whereas a five- to six-months supply is considered balanced.
Homes sold in an average of 67 days.
2019 NEFAR President Jeanne Denton-Scheck said, “Northeast Florida saw a remarkably robust housing market during spring and summer, with sellers having the edge. A slight cooling of prices, should it continue for several months, would be beneficial to more potential buyers.”
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.
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