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Dec. 10, 2015

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


2015 NEFAR President
Sally Suslak
SallySuslak@juno.com
Voice (904) 707-4373


Northeast Florida Housing Sales Trend: Low Inventory
Market slows in November to 1,729 sales and potential buyers finding less choice. Median sales price is $164,650.

JACKSONVILLE, Fla. – November 2015 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.

Low inventory is now the big trend in Northeast Florida's real estate market. A balanced inventory is considered to be five- to six-month's worth, so with inventory dropping to 4.0 months on hand (9,210 units) during November, home seekers found less from which to choose. While sellers added 2,425 homes to the market in November, it wasn't enough to raise the final tally to the balanced range.

Closed sales slowed to 1,729; a tad less than November 2014's 1,733 sales but a fair decline from the brisk activity that has dominated the bulk of 2015. Pending sales reached 2,029; a 22.1 percent increase over last November.

Median sales price for the month was $164,650. While this is a 2.6 percent increase over last November, it is a drop from $170,000 in October and $173,000 in September.

Days on market until sale average was 81 days, which was the same as October and only two days less than a year ago.

NEFAR President Sally Suslak said, "The low inventory of homes available for sale in Northeast Florida is being keenly felt. If potential sellers are on the fence trying to decide if now is a good time to sell, the answer is yes!"

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, 2013 and 2014 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 6,500 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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