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Nov. 12, 2014

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


2014 NEFAR President
Linda McMorrow
Florida_Legends@msn.com
Voice (904) 626-9900


October 2014 Housing Stats, Little Change From September
Median price $161,365 with 1,906 homes changing hands. Days on market: 82. Less than five month supply available.

JACKSONVILLE, Fla. - October 2014 housing sales reports are now posted by the Northeast Florida Association of Realtors on NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

There were 2,830 new properties added to the for-sale inventory during October, bringing total inventory to 9,595. This equates to a 4.8 month supply; slightly less than the five- to six-months considered a balanced market. With a reduced supply, buyers are facing competition, resulting in 11.5 percent of October sales going for more than the original listing price.

October's closed sales were 1,906; up 4.3 percent from a year ago but down a bit from September's 1,997 sales. Year to date, closed sales are up 6.9 percent.

Median sales price for October was $161,365; four percent higher than October 2013 but a slight decline from September's $164,900 median. Year to date, sales prices are up 2.6 percent.

Demand for homes is strong with 2,193 contracts being inked during October (pending sales); notching upward from September's 2,066. Pending sales are 21.7 percent higher than a year ago.

Days on market continues to bump along in the low 80s range: 82 days in October, 83 days in September, 83 days in August, and exactly 80 days a year ago in October 2013.

2014 NEFAR President Linda McMorrow says, "Very similar to September, there were no marked ups or downs during October. Inventory is down somewhat, but overall Northeast Florida’s real estate market is on a stable path."

For these and numerous other real estate market statistics, take advantage of the FREE market reports available on the Market Stats tab of
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, 2012 and 2013 are available - give an extensive year in review, with comparisons from the four preceding years included.

*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.

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 6,000 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.

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