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For Immediate Release                    
July 17, 2009
 
Contact: Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025
www.NEFAR.com
 
NEFAR Announces June 2009 Real Estate Housing Statistics

Closed sales comparable to June 2008, pending sales see huge spike.

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

There was little change in the number of closed sales in June 2009 compared to June 2008 - 1,252 and 1,295 respectively.

Pending sales in June, however, were markedly higher (42.4 percent) than the 2008 counterpart; rising from 1,139 in 2008 to 1,622 in 2009.

Because of the increased activity in the lower price ranges of homes and the lender-mediated foreclosure and short sale segment, home prices continue to show overall declines. The median sales price in Jun 2009 was $161,000; down 18.3 percent from last June.

As a result of the downward pricing, the Housing Affordability Index has improved to 155, indicating that the median household income in the region is 155 percent of what is necessary to qualify for the median priced home.

These figures, along with many others, are included in the FREE statistics packages available on the Newsroom | Market Stats tab of www.NEFAR.com. The statistics packages include a monthly report summarizing all activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. FREE foreclosure/short sale reports are also available in the same area of the site.

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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