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News Release

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Nov. 14, 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

October 2013 Northeast Florida Housing Sales Released
Sales prices and pending sales increase, closed sales drop slightly, fewer homes available and selling faster.

JACKSONVILLE, Fla. - October 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.

Closed sales are up 22.6 year to date, while the 1,492 closed sales for the month were a 6.6 percent drop from last October's 1,597 sales. Pending sales are up 25.8 percent year to date and 28.7 percent for the month: 2,050 pending sales this October versus 1,593 a year ago.

A median sales price of $158,865 was up 16.4 percent from October 2012's median of $136,500.

Days on market was 81; a 27.7 percent shorter time than the October 2012 average of 112 days.

With sales prices increasing and therefore sellers getting more of their original asking price, more sellers have been encouraged to list their homes. New listings topped out at 2,676 in October - a 20.6 percent increase over last October. Despite the influx of new listings, total inventory shrank 14.9 percent from the year prior to reach 9,076 units. There was just 4.8 months' worth of supply on hand during the month.

Of the 1,492 closed sales in October, 959 were traditional and 533 were lender mediated (35.7 percent share of activity). Last October's activity included 44.2 percent of lender mediated sales.

NEFAR President Carol Zingone says, "We don't know to what extent the government shutdown impacted home sales in October, but we do know that mortgage borrowing was somewhat affected. The significant increase in pending sales - those on which a contract has been written but haven't closed - demonstrate that home ownership is still in great demand in Northeast Florida."

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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