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Opportunity Driving Northeast Florida’s Red-Hot Real Estate Market

March 11th, 2017 · Leave a Comment

The real estate market in Northeast Florida is sizzling and shows no signs of slowing down.

Earlier this year, Jacksonville earned the No. 1 spot on Trulia’s list of the top 10 real estate markets poised for growth in 2017. Home values, prices and sales have shown some of the strongest numbers since before the economic downturn a few years ago.

Take a look at the latest data from the Northeast Florida Association of Realtors. In the January 2017 monthly report, the Median Sales Price increased more than 6 percent. While prices continued to gain traction, the continued decline in the number of homes available for sale, with inventory levels falling by more than 18 percent, remains one of the biggest challenges in today’s market.

“Home prices continue to post steady gains and are nearly back to pre-recession levels in most of our markets,” said Berkshire Hathaway HomeServices Florida Network Realty Founder, President and CEO Linda Sherrer. “The pace of growth remains strong and, for home pricing, represents an above-average level of appreciation. The shortage of available properties should continue to drive prices higher. There is a significant demand for moderately priced homes that appeal to both first-time buyers and Baby Boomers wishing to downsize.”

Limited inventory is evident in Berkshire Hathaway HomeServices Florida Network Realty’s 2016 Market Statistics. Learn more by visiting the Northeast Florida real estate firm’s blog.

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