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For Immediate Release                    

May 10, 2012
 
Staff Contact
Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9139
Fax (904) 398-8025

NEFAR President
Dane Leslie
DaneLeslie@WatsonRealtyCorp.com
Voice (904) 288-6205


NEFAR Announces April 2012 Real Estate Sales Results

Rebounding Northeast Florida market continues; sales prices increase, inventory down, pending sales substantially up, percentage of lender-mediated sales in decline. 

JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for April 2012. Statistics encompass both single-family residential and condo sales.

Northeast Florida's April real estate sales figures clearly demonstrate a rebounding market. The amount of lender-mediated sales (520) is in decline and made up just 38.1 percent of the total sales for the month; a 32.4 percent drop from a year ago. The 845 traditional sales, however, was an 11.3 percent uptick year over year.

Prices rallied on both traditional and lender-mediated properties; median prices rose 9.8 percent from last year and average prices posted a gain of 9.6 percent from a year ago. The percent of original list price received also rose 3.6 percent from a year ago, reaching 90.2 percent.

The inventory of homes for sale plunged 29.5 percent since last year to reach 9,745. The continuing reduction in inventory equates to a current 6.4 months of supply on hand, which is considered the normal range. Properties are also selling a little more rapidly; with days on market dropping 6.3 percent from last year to reach 115 days.

NEFAR President Dane Leslie says, "There is no doubt that Northeast Florida's real estate market is moving in a positive direction. The glut of homes seen a couple of years ago is gone. Inventory is way down, increasing pending sales demonstrate marked demand, and prices are rising." 

All statistics above, plus numerous others, are included in the FREE market reports available on the Newsroom | Market Stats tab of
www.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) The 2011 Annual Report provides an extensive review of all 2011 activity, with comparisons from 2007 forward. 

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 4,700 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 to not represent the full extent of Realtor sales in those counties.

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