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News Release

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Aug. 13, 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 July 2013 Housing Sales Results
Closed sales up 23.7 percent year to date. Sales prices up more than 15 percent year to date and nearly 26 percent higher than a year ago.

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

All systems are go when it comes to Northeast Florida's housing market. Key facts for July 2013 housing sales:

~ 1,807 closed sales were an 18 percent increase from the prior July. Year to date, closed sales are up 23.7 percent.
~ Pending sales spiked up a significant 51.9 percent to 2,342; July 2012 had 1,542 pendings. Year to date, pending sales are up 32.3 percent.
~ Days on market until sale dropped to 83; a 29.1 percent reduction from last July's 117 days.
~ Median sales price hit $170,875; a 25.7 % increase from $135,950 a year ago. The median is up 15.4 percent year to date.
~ Percent of original list price received was up four percent from a year ago, coming in at 94.5 percent.
~ The percent of properties sold for more than the listed price was 16.4; dead even with July 2012. Year to date, 19.9 percent of properties have sold for more than the listed price.
~ More sellers are starting to put their homes on the market, with new listings jumping 41.8 percent from a year ago to hit 3,045 for the month.
~ Despite more listings entering the market, the increase in sales resulted in inventory dropping 25.3 percent from a year ago, leaving only 8,305 properties in the hopper.
~ Months' supply of homes is now at 4.4 percent; a 42.1 percent decrease from July 2012. Five - to six-months supply is considered a balanced market.
~ Of the 1,807 closed sales, 588 were lender mediated and 1,219 were traditional. The share of activity that was lender mediated properties dropped from 42.6 percent a year ago to reach 32.5 percent in July.

NEFAR President Carol Zingone says, "Northeast Florida's homes sales are taking place at a brisk pace. If a home is priced correctly, getting multiple offers within the first couple of weeks is becoming more common."

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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