JACKSONVILLE FLORIDA MARKET TRENDS REPORT MARCH 25, 2012
There are several signs pointing to market trends that show a real estate recovery in 2012. Look at the stats comparing year over year, February 2011 to February 2012.
The Market Overview shows that new listings are down 5.5%, while Pending Sales are up 23.7%. Couple that with a small decline of 1.9% Average Sales Price from February 2011-February 2012 and a rise in Housing Affordability of 10.8% and you have a picture of a recovering real estate market.
Also, note that the Inventory of Homes for Sale are down 30.3% and the Months Supply of Homes for Sale are down 35.3% to a 6.7 month supply. A 6-7 month supply of homes for sale is considered a balanced market.
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