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For Immediate Release                    
March 15, 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 February 2010 Real Estate Housing Statistics
February numbers reflect twelfth consecutive month of increase in activity over 2009 figures.
 
JACKSONVILLE, Fla. - The 
Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for February 2010. All statistics represent single-family residential and condo sales.

A milestone was reached in February, with activity showing upticks for the twelfth consecutive month. There were 935 closed sales, an increase of 7.1 percent over February 2009. Pending sales spiked up much more sharply, from 1,012 last February to 1,627 this year; a 60.8 percent increase.

 

Sales prices continue to be soft. The $135,000 median sales price was down 14.6 percent from last February's $158,000 median. A disparity between sales prices of traditional sales and lender-mediated properties is very evident. The median sales price for lender-mediated properties (foreclosures, short sales) declined 14.7 percent from a year ago, while the median price for traditional sales was down just 1.7 percent.

 

February also marked the second consecutive month where lender-mediated properties represented half of all sales. The large volume of lender-mediated sales continues to trend overall prices downward. NEFAR President Carol Hill says, "The excellent pricing, combined with very low mortgage interest rates, create a very attractive environment for buyers. Buyers are taking advantage of purchasing now, particularly before the tax credits end April 30, as the February supply of inventory was at 11 months, down from 15.7 months a year ago."

 

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.