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Jan. 12, 2016

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


Banner Year: 2015 Northeast Florida Home Sales Largest Since 2006
2015 finished with 26,605 closed sales, up from 23,953 in 2014 and the largest number of sales since 2006. Supply of homes for sale depleted to 3.7 months' worth.

JACKSONVILLE, Fla. – December 2015 and a 2015 Annual Report on the Northeast Florida housing market are now both 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.

December 2015 Highlights
• Closed sales were 2,154; little difference from 2,147 in December 2,014.
• Pending sales were 1,961 for an 18.5 percent increase over 1,655 a year ago.
• There were 2,085 new listings; 1.6 percent fewer than December 2014.
• A $179,900 median sales price was a 4.9 percent increase over December 2014.
• Inventory fell 18.8 percent from a year ago (10,418 December 2014) to reach 8,537.
• Months’ supply of homes plummeted to only 3.7; a 30.2 percent drop from 5.3 months’ supply a year ago.
• Homes sold in an average of 84 days.

2015 Annual Report Highlights
• 26,605 homes changed hands during the year, marking the largest number of closed sales since 2006, when more than 35,000 homes were sold in Northeast Florida.
• Despite 36,707 new listings being added to the market in 2015, the year ended with a depleted inventory of only 8,537.
• The median sales price for 2015 was $170,000; up from $159,000 in 2014.
• Days on market until sale averaged 83, only two days less than 85 days in 2014.
• A significant increase in pending sales from 2014 (23,783) to 2015 (27,799) took place.

2015 NEFAR President Sally Suslak said, “2015 was a banner year for Northeast Florida home sales and inventory is scarce as a result. Having only 3.7 months of supply on hand - when five to six months is considered a balanced market - is a situation we hope will change.”

For these and numerous other real estate market statistics, take advantage of the FREE market reports available on NEFAR.com (Market Stats icon). Three categories of 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, 2014 and 2015 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 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. * 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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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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