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Feb. 15, 2016

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


Little Change in Trends Shown in January Northeast Florida Housing Sales
1,535 closed sales with $165,000 median price and inventory still well below normal.

JACKSONVILLE, Fla. – January 2016 Northeast Florida housing market 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 1,535 closed sales for the month, up three percent from January 2015’s closed sales, but not in the 2,000+ sales range that was the case for many months during 2015. Pending sales were up 9.7 percent from a year ago to reach 2,141.

Median sales price was $165,000; a jump of 14.6 percent over January 2015’s $144,000 median. Average sales price was $207,774. Nearly 12 percent of homes sold for more than the original listing price.

While 3,010 new listings were added to the market, inventory isn’t keeping pace with sales demand. A market is considered balanced when there is five- to six-month’s worth of inventory for sale. January’s end of month inventory was 8,874 homes, or 3.8 months’ worth. Year-end January 2015 was 5.4 months (nearly 30 percent more) of inventory.

2016 NEFAR President Terrell Newberry said, “January is historically a slower sales month after the end of the year rush to finalize closings, but 1,535 sales is on par for the month, particularly when inventory is so low.”

New! Starting with these January 2016 reports, NEFAR now includes Local Market Update county level reports for Baker, Clay, Duval, Nassau, Putnam and St. Johns county (one page reports per each county). The new county level summary reports are at the end of the Monthly Indicators report.

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, 2014 and 2015 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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