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For Immediate Release                    

May 18, 2011
Staff Contact
Melanie Green, Communications Director
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025

NEFAR President
Dane Leslie
Voice (904) 288-6205

NEFAR Announces April 2011 Real Estate Sales Statistics
Number of sales drop in comparison to 2010's tax incentive market, lender-mediated properties push overall prices down, inventory and supply head toward more balance.

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

Pending sales (those on which contracts are written but the sale has not finalized) of 1,642 were a 13.2 percent drop from April 2010's 1,891. Closed sales also declined year-over-year, from 1,575 last year to 1,437 this year, for an 8.8 percent drop.

The traditional sales median price of $164,500 was a 2.2 percent increase, while lender-mediated properties' median price of $85,200 was a 13.7 percent plunge. Combining the two sales types provides a total market median price of $125,000 for an 8.1 percent drop over last April. There were 1,437 total sales in April, 714 of which were traditional sales.

Inventory of homes for sale dropped 23.8 percent in April and months supply of homes dropped 26.2 percent; both positive indicators for a more normalized supply - demand balance.

NEFAR President Dane Leslie says, 'The April 2011 figures clearly show that last year's federal tax credit boosted sales. Despite drops in the number of sales this year, the median price for traditional sales continues to show modest increases. The large percentage of lender-mediated properties, however, continues to trend prices downward overall."

The statistics above, plus numerous 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.

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 to not represent the full extent of Realtor sales in those counties.

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