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Sluggish Sales Recorded for Northeast Florida In January

February 23rd, 2019 · Leave a Comment

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

After end-of-year and the holiday bustle, January is typically a sluggish month for home sales, and this year was no exception. There were 1,590 sales, which is a 2.9 percent drop from 1,638 sales in January 2018.

The pace of sales prices also slowed, with the median price of $206,000 being just .5 percent more than a year ago. The average sales price was $240,463; a 1.3 drop from a year ago.

Sales in January took place in an average of 71 days.

Increased activity was seen from 3,267 homeowners, who joined the ranks of home sellers within January. This was a 10.3 percent increase in new listings from the previous January.

Overall inventory ended the month at 8,798, up 7.2 percent from a year ago. The result on months’ supply of homes for sale notched up only slightly, however, from 3.4 months a year ago to 3.5 months on hand this January.

2019 NEFAR President Jeanne Denton-Scheck said, “January saw the smallest number of home sales in Northeast Florida in more than a year. After a record-breaking 2018 with nearly 30,000 sales, the slower pace is not particularly surprising.”

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