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Northeast Florida August Housing Market Report

September 17th, 2019 · Leave a Comment

Northeast Florida August 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.

For the third consecutive month, the median price for homes sold in Northeast Florida hovered at the $242,000 mark: $241,725 in July and $242,000 for both June and August. The August figure is 10 percent more than a year ago, when the median was $220,000.

The average sales price in August was significantly higher at $290,754, the second highest average within the past year (June was the highest at $297,256).

While prices increased, the number of sales declined to 2,760, a 4.9 percent drop from a year ago and less than the number of monthly sales within the past four months.

More than 15 percent of sales sold for an amount greater than their original listing price. Homes sold in an average of 63 days.

Fewer home sellers entered the market in August, with only 3,495 new properties being added to inventory. These new listings were 7.3 percent less than a year ago. The greatest number of new listings in any month during the past year was 4,020 in May.

Total August inventory of homes for sale was 9,054, 10.5 percent less than a year ago. This equates to 3.4 months on hand, a 17.1 percent drop from a year ago.

2019 NEFAR President Jeanne Denton-Scheck said, “The key trends in Northeast Florida’s real estate market have changed little during the past year: less choices for buyers, at increasing prices, and a robust market for sellers.”

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