I am a very active local and state association member, and love the fact my local board produces awesome news items such as this. Positive news is so difficult to find in our industry, and we have our own nay-sayers who seem to love to predict doom and gloom. I had a fantastic year in 2010, and am projecting an even better year in 2011: my office in Atlantic Beach was up OVER the MLS figures!
Year-over-year, closed sales up three percent and pending sales up 21.4 percent. Traditional sales prices up for five consecutive months; lender-mediated prices decline.
JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for December 2010. Statistics encompass both single-family residential and condo sales.
Despite a still struggling economy and the holiday season, the 1,423 closed sales that took place in December 2010 were up three percent over December 2009. Of that number, 653 were traditional sales and 770 were lender-mediated sales. December's pending sales also showed a strong uptick over last December, jumping 21.4 percent to arrive at 1,340.
Overall, sales prices in December fell by 7.1 percent, with $130,000 being the combined median of traditional and lender-mediated sales. In a continuing trend, however, there is a substantial disparity in the sales prices of traditional and lender-mediated sales. For the fifth consecutive month, the median sales price of traditional sales increased over the respective month a year ago; a healthy 11.7 increase in December to arrive at $181,000. By contrast, December's lender-mediated median sales price declined by 19.5 percent, dropping to $88,500.
NEFAR President Dane Leslie says, "While a number of positive indicators are reflected in our December figures that point to signs of real estate recovery, it also seems apparent that we will continue to deal with lender-mediated property sales for the foreseeable future."
Additional results from December are indicative of the market moving toward correction. The 14,529 active listings available during December were 8.1 percent less than a year ago. Month's supply of inventory dropped to 9.2 months, down 22.1 percent from last December's 11.9 months.
These figures, along with many 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 report summarizing all activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. Separate monthly foreclosure/short sale reports are also available on the Newsroom | Market Stats tab of the Web site.
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 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 do not represent the full extent of Realtor sales in those counties.
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