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For Immediate Release                    
Sept. 14, 2009
 
Contact: Melanie Green, Communications Director
MGreen@NEFAR.org
(904) 394-9494, ext. 1204
(904) 398-8025

NEFAR Releases August 2009 Real Estate Statistics
Closed home sales and pending home sales figures both up from one year ago.

 
JACKSONVILLE, FL - The Northeast Florida Association of Realtors (NEFAR) announces real estate statistics for August 2009.

The $8,000 federal tax credit for first-time homebuyers, in conjunction with continued low mortgage interest rates, appear to be spurring the market in a positive direction. Pending sales for August are a whopping 47.8 percent higher than one year ago. While not all of these sales will result in closing, the revived buyer demand is welcome news. Closed sales during August were also up; 7.3 percent higher than August of 2008.

Of the month's closed sales, 26.1 percent were lender-mediated foreclosures and short sales, which skews overall pricing downward. The August median sales price for all properties was $150,000 - down 16.7 percent from a year ago. The median sales price for traditional homes, excluding foreclosures and short sales, was $158,495, down 16.5 percent from a year ago. The reduction in home prices means greater affordability for potential buyers. The August Housing Affordability Index of 168 represents a 29.3 percent increase over this time last year.
 
These figures, along with numerous others, are available in the FREE August 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. Local market updates follow the summary, with area-specific statistics for 28 submarkets within the region.

FREE monthly foreclosure/short sale reports are also available on www.NEFAR.com (Newsroom | Market Stats tab).
 
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. All statistics in NEFAR's market and foreclosure/short sale reports are based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS).

* 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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