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July 9, 2013

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

2013 NEFAR President
Carol Zingone
Voice (904) 993-9048

NEFAR Releases June 2013 Housing Sales Results
Buyer competition for properties pushing prices higher and inventory down.

JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors announces real estate market statistics for June 2013. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

Closed sales in June reached 1,829, reflecting an eight percent increase over June 2012 and a 22.8 percent increase year to date. The breakdown of the 1,829 sales were 651 (35.6 percent) lender mediated and 1,829 traditional. Demand for homes shows no sign of waning, with pending sales coming in at 2,171 for the month; a 34.2 percent increase from a year ago and a 32.3 percent increase year to date.

Inventory of homes for sale has plunged 29.2 percent from a year ago, with 7,982 properties now available. This equates to just 4.4 months supply of homes for sale, below the five- to six-month range that is considered a balanced market.

Sales prices continue to climb. The June $158,000 median price is 6.8 more than a year ago and up 14.1 percent year to date. The sales price was actually higher than the asking price for 19.1 percent of the homes sold in June. This is a trend rather than an anomaly, due to the increased competition for properties.

NEFAR President Carol Zingone says, "The limited number of homes for sale is a key piece of the current real estate puzzle. Competition among buyers is robust and prices are increasing as a result. The stronger sales picture is encouraging more sellers to enter the market, however."

For these and numerous other real estate market statistics, take advantage of 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) Annual Reports - 2011 and 2012 are available - 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 5,000 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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