Real Estate in Northeast Florida and Around the World

The Northeast Florida real estate market update statistical information has been released by the Northeast Florida Association of Realtors®, and the trend continues to show encouraging news for the area.  Pending sales were up 7.8% from January 2010, inventory levels have dropped almost 15% since January 2010 and days' supply of inventory decreased by 25.2%, to a 9.2 month supply.  A six months' supply of housing is considered a "normal" market, and the signs that our market is trying to normal continue in a positive trend.

The distressed sales market, which are those homes either in a short sale, pre-foreclosure or foreclosure status, showed increased activity over the year.  From January 2010 to January 2011, lender-mediated sales increased over 38%, but the negative impact to median sales prices is beginning to slow.  Year over year shows traditional sales with only a 2.8% decrease in median sales price, and lender-mediated sales with only an 8.2% decrease from January 2010. 

Of course, certain neighborhoods are experiencing highs and lows that must be considered, and only working with an experienced professional Realtor® who can look at current data to ensure that the price for which you are listing your house is competitive, or that the offer that you are making on a new home purchase is reasonable.  Call me if you are interested on the current facts about real estate values in your neighborhoods.  Neighborhoods are my business - whether it is yours, ours or the world's - and I can help you get the information you need to make great decisions about your real estate investments!

To see the latest real estate market information, click on the "Market Data" tab to the left.