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February home sales up, 12.5 percent sell for more than list price

March 18th, 2019 · Leave a Comment

February 2019 housing market reports for Northeast Florida are available from the Northeast Florida Association of Realtors on NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

After a slow January, home sales notched up in February, with 1,956 closings taking place. This number was on par with February 2018’s 1,934 sales.

The median sales price for the month was $221,000, up 1.4 percent from last February’s $217,900. The average sales price was higher, at $254,765; a slight drop from $256,648 a year ago.

With buyers competing for a scarcity of available properties, 12.5 percent of sales went for more than the original listing price.

There were 3,351 new listings added to the market in February, but the overall supply of homes for sale was still 3.5 months, far less than the five- to six-months that is considered a balanced market.

Properties sold in an average of 77 days.

2019 NEFAR President Jeanne Denton-Scheck said, “Northeast Florida’s low inventory, coupled with vigorous buyer demand, remains the long-running trend in Northeast Florida, keeping sellers squarely in the driver’s seat.”

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