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News Release

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Sept. 12, 2013

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

2013 NEFAR President
Carol Zingone
CarolZingone@gmail.com
Voice (904) 993-9048

NEFAR Releases August 2013 Housing Sales Results
Closed sales up 24.1 percent year to date; median sales price is $17,000; low inventory driving up prices and competition.

JACKSONVILLE, Fla. - August 2013 real estate market statistics are now available from the Northeast Florida Association of Realtors. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

There were 1,898 closed sales in August. This was a 24.1 percent increase year to date and 15.6 percent higher than August 2012. Of the 1,898 sales, 1,220 were traditional and 678 (35.7 percent) were lender-mediated. The percentage of lender-mediated sales was 40.7 percent a year ago. Condos-townhomes made up only 311 of the sales, with single-family properties accounting for the remaining 1,587.

Pending sales tracked higher, with 2,182 contracts pending during the month; a 29.6 percent increase year to date and 32.6 percent greater than the 1,646 pending sales last August.

August's $170,000 median sales price was up 15.2 percent year to date and 22.7 percent higher than last August's $138,500 median.

Sellers are realizing more equity in their homes, with 94.1 percent of properties selling for their original list price. During August, 10.7 percent of the sales were for more than the original listed price.

Inventory remains low, with 8,715 homes in play during August; a 20.3 percent drop from a year ago. Months' supply of homes is at 4.6; down 37.8 percent from a year ago.

NEFAR President Carol Zingone says, "Low inventory and competition for properties are two key factors in Northeast Florida's current housing market. More sellers are beginning to list their homes, but not yet enough to boost inventory significantly."

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.

About NEFAR
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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