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For Immediate Release                    
Aug. 27, 2009
 
Contact: Melanie Green, Communications Director
MGreen@NEFAR.org
(904) 394-9494, ext. 1204
(904) 398-8025

NEFAR Releases July 2009 Real Estate Statistics
Home sales in northeast Florida region posts second consecutive month of increase compared to a year ago.
 
JACKSONVILLE, FL - The Northeast Florida Association of Realtors (NEFAR) announces real estate statistics for July 2009, based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS).

The substantial uptick in sales activity continued in July with pending sales for the month being 42.3 percent higher than a year ago and closed sales 15.9 percent higher. Of the month's closed sales, 24.5 percent were lender-mediated foreclosures and short sales, which had the effect of skewing the overall median price downward. The July median sales price for all properties was $159,800, down 12.2 percent from a year ago. However, the median sales price for traditional homes excluding foreclosures and short sales was $172,000, down 9.4 percent from a year ago. Soft prices equate to improved affordability; a big positive for potential buyers. The July Housing Affordability Index of 157 represents a 24.5 percent increase over this time last year.
 
These figures, along with a great deal of additional information, is available in the FREE July 2009 Market Report package on
www.NEFAR.com (Newsroom | Market Stats tab). Each monthly report includes a 15-page summary of real estate activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. Following the summary information are local market updates, with area-specific statistics for 28 submarkets within the region.

Due to the increased interest in foreclosures and short sales, NEFAR now offers FREE monthly foreclosure/short sale reports on www.NEFAR.com (Newsroom | Market Stats tab) in addition to the Market Report package.
 
The Northeast Florida Association of Realtors is headquartered in Jacksonville with satellite service centers in Orange Park, Jacksonville Beach and Palatka. NEFAR is the largest professional/trade association in northeast Florida, serving more than 5,500 Realtor and affiliate/business partner members in Duval, Clay, Putnam and St. Johns counties.

* 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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