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For Immediate Release                    
May 12, 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 April 2010 Real Estate Housing Statistics
Significant upticks in both closed and pending sales, inventory down nearly 32 percent over last April. 
 
JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors (NEFAR) 
announces real estate market statistics for April 2010. Statistics represent single-family residential and condo sales.

Northeast Florida home buyers took advantage of the home buyers' tax credits during April, pushing closed sales up 35.3 percent over last April; to 1,454. Upward momentum on pending sales was even stronger, spiking up 66.4 percent - from 1,326 last April to 2,206 this April. NEFAR President Carol Hill says, "A steady positive pattern seems to be the current scenario for our northeast Florida real estate market. The momentum built as a result of the tax credits clearly has spurred the real estate market."

 

As a result of the increased sales, the number of months of inventory supply has dropped to 10.7. The drop is good news, as 15.6 months supply was on hand in April 2009. A market is considered balanced when there is roughly a five- to six month supply of homes available for purchase.

 

April also saw a slight balance shift between traditional sales and lender-mediated sales. While the ratio has been roughly 50/50 during the past several months, traditional sales in April made up about 56 percent of the mix, while lender-mediated properties dropped to 44 percent. Sales prices of the two property types also showed disparity: the median sales price of traditional sales in April 2010 was actually up 2.3 percent over last year, while median prices for lender-mediated properties dropped 21.1 percent.

 

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.