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Aug. 13, 2018

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

2018 NEFAR President
Charles "Ben" Bates
BenBates@ColdwellBanker.com
Voice (386) 328-6716



July Real Estate Wrap: 14.3 Percent of Sales For More Than Original List Price
2,578 homes are sold with a median sales price of $230,000. Homes selling in an average of 61 days.

Jacksonville, Fla. – July 2018 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.

July’s Northeast Florida real estate market indicated no significant changes from spring and early summer. The median sales price for homes was an even $230,000, a seven percent uptick from a year ago but down slightly from last month’s $235,000 median. Average sales price was higher; $275,364 or up 8.4 percent over July 2017.

There were 2,578 closed sales, down 2.5 percent from a year ago and down from last month’s 3,030 sales.

There was also little change seen in the number of new listings being added to the market throughout the spring and summer: 3,807 new listings in July, 3,876 in June, 3,800 in May, 3,820 in April, and 3,860 in March.

Inventory for the month ended with 9,088 homes on hand, or 3.7 months’ worth. A balanced market is considered to be between five- to six-months of inventory.

Homes are selling briskly, with 61 days as the July average.

2018 NEFAR President Ben Bates said, “With the low inventory, competition for available homes is spurring multiple bids on many properties, with the result being that 14.3 percent of all sales in July were for more than the original listing price.”

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 through 2016 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 8,000 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.