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NEFAR Reports Home Sales Record Breaker in 2019

January 20th, 2020 · Leave a Comment

Northeast Florida 2019 home sales broke the record as the Most Annual Homes Sales in the Northeast Florida Association of Realtors’ (NEFAR) history. Other 2019 highlights:

December 2019 Highlights

  • There were 2,561 homes sold in December, an 8.6% increase over December 2018.
  • Median sales price for the month was $242,500, or 6.9% more than the $226,900 median a year ago.
  • Average sales price for December was $292,794, up 9.4% from $267,634 in December 2018.
  • Months’ supply of homes for sale closed out at 2.8, a drop of 22.2% from 3.6 months a year prior. A balanced market is considered to be between five- and six-months supply.
  • Days on market until sale average in December was 72.

2019 Annual Report Highlights

  • There were 31,881 closed sales, up 5.4% from 30,253 in 2018.
  • Median sales price for the year was $233,990, also up 5.4% from $222,000 in 2018.
  • Average price in 2019 was $276,586, an increase of 4.0% from $266,055 in 2018.
  • There were 40,814 new listings added to the market in 2019, just .5% more than in 2018.
  • Inventory for homes at the end of 2019 was 7,602, a significant 17.2% drop from 9,181 at the end of 2018.
  • Here’s how the listing prices broke down for the 7,602 homes in inventory: 2,058 for less than $200,000; 2,065 priced from $200,000 – $299,999; 1,973 between $300,000 – $499,999; 1,093 between $500,000 – $999,999; and 413 were on market for $1,000,000 or more.
  • The percentage of properties sold that were lender-mediated was 4.7%, decreasing 9.3% from 5.4% in 2018.
  • Percent of original list price received was 95.6, identical to a year ago.
  • Single-family detached properties stayed on the market an average of 68 days until sale, while condo-townhomes averaged 60 days on market.

2020 NEFAR President Ron Harris said, “Despite low inventory being a constant, significant factor in the housing market the past several years, buyer demand has not waned, resulting in a record-breaking 31,881 home sales in Northeast Florida in 2019.”

The full monthly December 2019 and 2019 Annual Market Reports are available on NEFAR.com.

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