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For Immediate Release                    

March 17, 2011
 
Staff Contact
Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025

NEFAR President
Dane Leslie
DaneLeslie@WatsonRealtyCorp.com
Voice (904) 288-6205


NEFAR Announces February 2011 Real Estate Sales Statistics

Closed sales up 12.9 percent from a year ago while median sales price down 12.9 percent. Pending sales increase 10.7 percent. Lender-mediated properties dominate February sales.
 

JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for February 2011. Statistics encompass both single-family residential and condo sales.

Real estate sales activity was brisk in February, resulting in 1,156 closed sales; a 12.9 percent increase over February 2010. Pending sales also showed gains, jumping 10.7 percent year-over-year to arrive at 1,525.  

While the number of closed sales was on the rise, lender-mediated properties dominated the action, with 694 lender-mediated sales versus 462 traditional sales. The difference in the two property types was once again reflected in the median sales price. Traditional sales nudged upward 1.9 percent, from $161,900 last February to $165,000 this year. Lender-mediated properties dropped 24.2 percent - from $109,400 in February 2010 to $82,900 February 2011.   

Months supply of inventory dropped 25.2 percent to reach 9.2 months, signaling a continued move in the right direction toward a balanced market of five- to six-months inventory. The overall inventory of homes for sale dropped from 15,721 last year to 12,998 this year; a 17.3 percent plunge.

NEFAR President Dane Leslie says, "Buyers continue to be in the driver's seat. With an overall median sales price of just $115,900 in February, anyone who is even considering buying a home should really take notice of the current low prices. The Florida Statewide Open House Weekend on March 26 - 27 gives potential buyers a fantastic opportunity to visit hundreds of these homes in just two days."

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 and Housing Supply Overview Report summarizing all activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. Separate Lender-Mediated sale reports are also available on the Web 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 4,900 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. 

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