Northeast Florida Assocation of Realtors January 2011 Statistics

These statistics encompass both single-family residential and condo sales.

Pending sales of 1,396 were up 21.6 percent over last January's 1,148. Closed sales also hit a positive note with a 7.8 percent jump, from 921 in January 2010 to 993 in January 2011.

Sales prices did not fare as well. Median prices dropped nine percent year-over-year to $120,750; representing a composite median of $160,000 for traditional home sales and $82,500 for lender-mediated sales. Of the 993 homes sold in January, 586 were lender-mediated.

Because of the reduction in home sales prices, the housing affordability index rose 10.9 percent over last year, coming in at an astonishing 218. An HAI of 218 means that the median area household income is 218 percent of what is necessary to qualify for the median priced area home. 

NEFAR President Dane Leslie says, "We are witnessing a mixed bag of indicators. On the positive side, pending sales and closed sales continue to show slow and steady increases with housing prices offering incredible values for buyers. On the other end of the spectrum, the significant chunk of lender-mediated properties combined with high unemployment rates still negatively affects the economy and real estate is clearly at the forefront of those affects."

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 and Housing Supply Overview Report summarizing all activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. Separate Lender-Mediated sale reports are also available on the Web site.