NEFAR's (Northeast Florida Association of Realtors) Market Stats for June 2010 continues to show encouraging trends for St. Augustine Realtors and homebuyers. My favorite trends seen in June are:
CLOSINGS: The closings reported year-to-date through June 2010 are 8,161 compared to year-to-date numbers through June 2009 of 6,377 closings.
DOM: The days a home is on the market before selling has averaged 102 days throughout 2010 compared to an average of 112 days through June 2009.
SALES PRICE: The median sales price has increased from $135,250 in April to $139,995 in May to $143,090 in June 2010. We are still seeing most of the sales in the lower price ranges but there seems to be stability in the homes priced under $250,000.
PENDING SALES: Pending sales are up in June 2010 by 20% over June 2009 and by 46% over June 2008. Many people expected pending sales to drop dramatically when the housing credits ended in April. The pending sales did decline about 28% in May, but they increased in June about 15% over the May numbers.
ZIP CODE 32092: The average sales price in the 32092 zip code which includes The Neighborhoods of World Golf Village, Murabella, Samara Lakes, Meadows, Heritage landing, St. Johns Golf and Country Club, Wingfield Glen and South Hampton was $193,310 in April, $201,922 in May and $265,180 in June 2010.
INVENTORY: The inventory of homes available continues to decline, which is good news. There is a 10.6 months supply of inventory in June 2010 compared to 15.2 months available in June 2009. Five to six months of inventory is considered a balanced market.
If you are considering buying, selling or renting a home, I recommend working with a knowledgeable professional. The transactions we are seeing are more challenging and complicated. To find a good value and get the home to closing, you need someone who can guide you through the process. For more information on Jacksonville FL Real Estate, please feel free to contact me.
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