Real Estate in Northeast Florida and Around the World

The latest data from the Northeast Florida Association of Realtors has been released, and the trend information for our area continues to be good. While inventories are still above normal in most areas and housing types, the inventory levels continue to drop overall, compared to March 2010.

Inventory levels dropped more than 20% compared to last year, with new listings decreasing 28.2%. Pending sales increased 3.9% over the same period last year - a very positive sign considering there was a federal tax credit incentive for driving sales last year. The down side - down for those who own homes - saw the median sales price decline 10.9% from last year, with the average sold to original list price at 86.9%.

Take a look at the detailed report for both the overall market, as well as the short sale and foreclosure inventory market information. The overall good news is that inventories are reducing, which continue to strengthen the cause for a normalizing real estate market. If you are a buyer waiting on the best deal - I advise you to get out of the internet searches and into action. The best inventory does not stay on the market long - so if you see something of interest, better take advantage of it because it will not last long.   Call me at 904-716-1713 if there is something that  you would like to preview,or send an email  to MissiHowell@MissiHowell.com  - I'll make it happen!