Year to date, sales up 24.4 percent and prices up 16 percent. Percentage of lender mediated sales diminishing.
JACKSONVILLE, Fla. – The Northeast Florida Association of Realtors announces real estate market statistics for May 2013. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
Northeast Florida’s May sales results held no surprises. Prices continue to rise and inventory continues to fall. There were 1,951 closed sales in May; up 21.5 percent year over year and up 24.4 percent year to date. Pending sales also jumped: there were 2,321 pending sales in May 2013 versus 1,725 pending sales in May 2012; a 34.6 percent increase.
There are many bright spots in the current housing sales situation, including that the percentage of lender mediated sales is in decline. Of May’s 1,951 closed sales, 714 (36.6 percent) were lender mediated while 1,237 were traditional sales. A year ago, 42.9 percent were lender mediated. Far fewer new listings coming onto the market are lender mediated as well. There were 2,682 new listings in May, of which 1,788 (66.7 percent) were traditional and 894 (33.3 percent) were lender mediated.
May’s $158,500 median sales price was a 20.1 percent increase over last May’s $132,000. The May median was also up 16 percent year to date.
Inventory of properties for sale is now at 7,892; down 30.8 percent from 11,407 a year ago. The supply of homes for sale plunged 43.6 percent since last May, with 4.4 months currently on hand.
NEFAR President Carol Zingone says, “We are clearly in a market on the move. With prices steadily increasing, more and more sellers are recouping equity in their homes and this is putting them in the driver’s seat.”
For these and numerous other real estate market statistics, take advantage of the FREE market reports available on the Newsroom | Market Stats tab of www.NEFAR.com. Three reports are available: 1) The Monthly Indicators and Housing Supply Overview Report summarizes complete activity for NEFAR’s entire service area plus *partial information for St. Johns County and Nassau County. 2) Lender-Mediated sales reports offer a targeted look specifically at lender-mediated sales and how they compare to traditional sales. 3) Annual Reports - 2011 and 2012 are available - give an extensive year in review, with comparisons from the four preceding years included.
About NEFAR
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 5,000 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 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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