Local May 2019 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.

Closed sales in May reached 3,091, which was the first time since June 2018 that sales have exceeded 3,000 (the June 2018 figure was nearly identical at 3,092 sales). Last month’s (April) sales were not far below, coming in at 2,951.

Median sales price for the month was $232,000, a 3.1 percent increase over last year. Average sales price was $276,429, a 1.6 percent increase from a year ago.

Inventory is still low with only 3.6 months on hand. As a result, competition for available properties drives up prices due to competing offers, and 15.2 percent of sales in May went for more than their original listing price.

Homes sold in an average of 66 days.

2019 NEFAR President Jeanne Denton-Scheck said, “Spring sales in Northeast Florida have been vigorous, with nearly 3,000 in April and more than 3,000 in May.”