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News Release

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Dec. 12, 2013

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

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

November 2013 Northeast Florida Housing Sales Released
Median prices up 15.9 percent YTD and 18.6 percent year over year. 1,531 closed sales up 22.5 percent YTD; down 1.9 percent year over year. Pending sales up, days on market and inventory down.

JACKSONVILLE, Fla. - November 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.

Median sales prices in northeast Florida continue on the upswing. A $154,000 median marked an 18.6 percent increase from a year ago and a 15.9 increase year to date. The rising sales prices equated to sellers receiving an average of 93.2 percent of the original list price of their homes.

The number of closed sales finished out with 1,531 properties; a 1.9 percent dip from a year ago but up 22.5 percent year to date. Lender mediated sales are making up less of the pie these days: there were 558 (36.4 percent) lender mediated sales versus 973 traditional sales.

Homes are changing hands fairly rapidly, with days on market dropping to 79, a 25.5 percent shorter time than 106 days last November.

Pending sales topped out at 1,813 for a 14.7 percent increase from a year ago and a 23.2 percent increase year to date.

Despite an influx of 2,357 new homes to hit the market during November (New Listings), the overall inventory dropped to 9,203; 10.7 percent less than a year ago. The reduced supply equates to just 4.9 months' worth of supply on hand; 26.9 percent less than last year at this time.

NEFAR President Carol Zingone says, "November's numbers are encouraging and show a substantially stabilized market. Lender mediated properties are declining, and while prices have risen to the point where sellers are getting more of a return on their investment, prices overall are still within reach for most buyers."

For these and numerous other real estate market statistics, take advantage of the FREE market reports available on the Newsroom | Market Stats tab of THE NEW 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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