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For Immediate Release                    
Feb. 10, 2010
 
Staff Contact
Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025

NEFAR President
Carol Hill
Carol.Hill@PrudentialNetworkRealty.com
Voice (904) 296-1906

NEFAR Announces January 2010 Real Estate Housing Statistics
Closed sales up nearly 19 percent from January 2009, pending sales up nearly 35 percent, sales prices and inventory levels both down. 
 
JACKSONVILLE, Fla. - The 
Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for January 2010.

For the eleventh consecutive month, home sales in the region were up. There were 1,300 pending sales in January, up 34.7 percent from last year. Closed sales were up 19 percent, from 701 in January 2009 to 834 this year. The strong sales activity has reduced the supply of inventory from 15.6 months in January 2009 to 10.4 months supply this January. A market is considered balanced when there is a five-to-six month's supply of available homes for purchase.

 

The number of lender-mediated property sales (foreclosures and short sales) is still prevalent, with January's 418 lender-mediated sales representing half of the month's 834 total sales. Sales prices continue to trend downward, although there is a marked difference in the pricing of lender-mediated sales versus traditional (those that are not lender-mediated) sales. Lender-mediated properties in January had a median sales price $89,950, down 22.1 percent from a year ago. Traditional sales, however, dropped only 1.7 percent; from $178,000 last year to $175,000 this year.

 

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 Indicators 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 section of the site.

 

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 5,500 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 Monthly Indicators and foreclosure/short sale 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.

 

* 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.