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September Tally: Little Change in Northeast Florida Real Estate Market

October 17th, 2018 · Leave a Comment

September 2018 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.

No significant changes from previous months were noted in September’s Northeast Florida real estate market. There were 2,132 homes that changed hands, up 5.9 percent from a year ago but down from August’s 2,821 sales.

Nearly 14 percent of the sales were for more than the original listing price.

Median sales price was $215,000, a 2.9 percent increase over September 2017. Average sales price was higher, at $256,108.

There were 3,158 new sellers that listed their home, a 38.2 percent increase over September 2017. Despite that, overall inventory settled at 9,181 homes, equating to 3.6 month’s supply, well below the five- to six-month figure that is considered a balanced market. Of the 9,181 in inventory, there are 5,059 that are listed for less than $300,000 and 2,592 of them are priced below $200,000.

Homes continue to move rapidly, within an average of 64 days.

2018 NEFAR President Ben Bates said, “In this market, potential buyers need to have their financing in place before beginning their home search, to be ready to make an offer quickly when they find a home in which they are interested.”

For these and numerous other real estate market statistics, take advantage of the free market reports available on NEFAR.com (Market Stats icon).

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