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April 2018 Northeast Florida Real Estate Market Results

May 15th, 2018 · Leave a Comment

April 2018 housing market 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.

As April came to a conclusion, 2,441 homes brokered by members of the Northeast Florida Association of Realtors had changed hands. This number was down 2.4 percent from 2,502 sales last April. There were 2,998 pending sales, or 10.6 percent more than a year ago.

The median sales price for the month was $218,500 and the average price was $269,251. These figures were 9.3 and 9.9 percent higher than a year ago, respectively.

With robust competition for available homes in a market with short supply, 13 percent of sales went for prices above the original listing price.

Homes sold in an average of 63 days, down from 75 days in April 2017.

Months’ supply of inventory is at 3.4, or 12.8 percent less than a year ago. This equates to 8,264 homes on the market for sale, including the 3,810 new listings that were added during the month.

2018 NEFAR President Ben Bates said, “Despite more sellers entering the market the past couple of months, sales remain strong and inventory continues to be well below the five- to six-months that is considered a balanced market.”

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