May is third consecutive month with more than 2,200 closed sales. Demand strong with 2,739 pending sales. Prices on the upswing: $175,000 median sales price for the month.
JACKSONVILLE, Fla. – May 2015 housing sales reports are now posted by the Northeast Florida Association of Realtors on NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
Strong sales and even stronger demand were key indicators marking the continuation of a healthy spring sales season for Northeast Florida’s real estate market. Following closed sales of 2,241 in March and 2,201 in April, May sales reached 2,255. This figure is 2.4 percent greater than May 2014. Year to date, closed sales have increased 8.4 percent. Pending sales (those on which a contract has been signed but have not yet closed) increased 24.2 percent year over year and topped out at 2,739.
Prices notched up 10.4 percent from a year ago to hit $175,000 in May, coming in higher than March’s $160,000 and April’s $172,000 medians.
The inventory of homes for sale settled at 9,714; 14.3 percent fewer than May 2014. Low inventory (4.5 month’s worth) coupled with vigorous demand has spurred increased competition for many homes, resulting in 12.7 percent of homes selling for more than the original listing price.
Days on market until sale was 86.
2015 NEFAR President Sally Suslak said, “Northeast Florida’s real estate market has been a whirlwind of activity this spring with potential buyers out in full force. Sellers added 3,344 new listings to inventory during May but with more than 2,200 sales per month for the past several months, the overall inventory isn’t increasing much.”
For these and numerous other real estate market statistics, take advantage of the FREE market reports available on NEFAR.com (Market Stats icon). Three categories of 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, 2012, 2013 and 2014 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 6,000 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.
