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For Immediate Release                    

Aug. 10, 2012
Staff Contact
Melanie Green, Communications Director
Voice (904) 394-9139
Fax (904) 398-8025

NEFAR President
Dane Leslie
Voice (904) 288-6205

NEFAR Releases July 2012 Real Estate Sales Numbers

Market continues to strengthen: number of sales and prices rising, inventory still dropping, sellers receiving more of original asking price.

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

Results from July sales are indicative of a strengthening market pattern:
~ There were 1,434 closed sales; of which 875 were traditional sales and 559 (39 percent) were lender-mediated sales.
~ Both traditional and lender-mediated sales numbers were a 10.6 percent difference from July 2011; traditional sales were up 10.6 percent from a year ago, while lender-mediated sales were down 10.6 percent from last July.
~ Prices are on the rise. The median sales price jumped 7.7 percent year-over-year and is up 4.7 percent year-to-date. Average sales price was up .3 percent year-over-year and five percent year-to-date.
~ There is no longer a backlog of homes in inventory, which decreased 30.2 percent to arrive at 9,122 (13,078 homes were in inventory last July).
~ Pending sales have increased 32.2 percent from a year ago and 15.9 percent year-to-date.
~ Days on market was 116 for July.
~ Sellers are receiving more than 90 percent of their original asking price (percent of original list price received).

NEFAR President Dane Leslie says, "Declining inventory coupled with increasing demand is driving prices up, which is welcome news for sellers. Multiple offers and competition for properties prices below $150,000 has become commonplace."

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.

*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.

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 4,900 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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