Number of sales and sales prices both on the rise, inventory diminishing, supply-demand in balance.
JACKSONVILLE, Fla. – The Northeast Florida Association of Realtors announces real estate market statistics for June 2012. Statistics encompass both single-family residential and condo sales, combined.
June’s sales results solidify a trend, demonstrating that Northeast Florida’s real estate market is on the upswing:
• closed sales of 1,565 were the greatest number of sales for any single month to date in 2012 (January closed sales = 977; February = 1,180; March = 1,419; April = 1,365; May = 1,503)
• 1,907 pending sales were a 23 percent increase over June 2011 and a 16.8 year-to-date increase
• days on market dropped to 102, down from last June’s 128 days and a 7.6 percent year-to-date decrease
• a $149,000 median sales price was a 10.1 percent increase over June 2011’s $135,364 and a 4.8 percent year-to-date increase
• a $200,112 average sales price was a 9.1 percent increase from last June and a 5.8 percent year-to-date increase
• inventory of homes for sale dropped 30.7 percent year-over-year to reach 9,267
• months supply of homes for sale dropped 38.3 percent to reach 6 months (a five to six month supply is considered balanced)
The percentage of lender-mediated properties (foreclosures and short sales) is declining; making up 36.3 percent of the June sales. Of the 1,565 total sales, there was 997 traditional sales and 568 lender-mediated sales. The portion of lender-mediated sales was a 19 percent drop year-over-year.
Looking more closely at increasing median sales prices, it is interesting to note that both traditional and lender-mediated properties are rising in price: traditional sales rose five percent year-over-year and lender-mediated prices were up 7.6 percent from a year ago.
NEFAR President Dane Leslie says, “The statistics are not ambiguous: Northeast Florida’s real estate market is improving and vastly more vigorous than even a year ago. There are far fewer lender-mediated properties, there are significantly fewer properties for sale overall, and what is available is selling faster and for higher prices.”
All statistics above, plus numerous others, are included in 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) The 2011 Annual Report provides an extensive review of all 2011 activity, with comparisons from 2007 forward.
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 4,900 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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