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Northeast Florida Association of Realtors March 2012 Real Estate Sales Results
NEFAR Releases March 2012 Real Estate Sales Results Many positive indicators for month: inventory and new listings downs, supply of homes in balance, sales prices increase, percentage of lender-mediated sales decline. JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for February 2012. Statistics encompass both single-family residential and condo sales. March, the start of what has traditionally been considered the spring selling season, was a robust month of positive indicators for the northeast Florida real estate market. Year over year, inventory shrank 30.4 percent to reach 9,783 available properties. The sharp reduction in inventory that has set the pace for many months resulted in a 6.5 months' supply of homes for sales. A five- to six-month supply is considered a balanced market. New listings dropped 10 percent year over year, coming in at 2,410 for the month.
Median and average sales prices both posted increases for the month: a 4.8 percent increase for median and a 10.4 increase for average. The percent of original list price received also showed a gain; up 2.8 percent from March 2011 to March 2012. The number of days properties were on the market prior to sale moved ... more
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