Jacksonville Real Estate Trends in August continue to show positive trends!

September 28, 2018


The Northeast Florida Association of Realtors market stats for August 2018 continue to show the same trends. Pending sales are up and prices are up. New listings are up but the inventory of homes available for sale is down. The closed sales are about the same as last year.


One indicator of a healthy market is the days a property is on the market until sale. In August, a home stayed on the market 59 days on average which is down 9% from 65 days last August. The number is down 12% comparing the current year to date to the previous year to date. It is a good sign for the market when homes listed receive such a quick positive market response.


There were 3,744 new listings in August which is up 2.4% over last August and 8.1% year to date over the previous year to date. There were 2,673 pending sales in August which is 3.6% more than last August and up 3.5% year to date. There were 2,656 closings which is down 6.2% from last August, but year to date we are right on track with last year up 0.1%.


The median sales price is $220,000 and the average sales price is $265,477. Both are up around 7% month over month and 10% year to date.


There were 9,237 homes available for sale in August which is down 1.4% from last August. There is 3.7 months supply of inventory available which is down 5.1% from last August.


The 2018 Q3 Zillow Home Price Expectations Survey conducted by Pulsenomics LLC asked more than 100 real estate economists and experts for their predictions about the U. S. Housing market. “Three out of four economists surveyed said the national housing market would not shift to a buyer’s market until 2020 or later.”


The real estate market and stock market have had a long positive run since the recession. It is nice to see the predictions for a strong market for the near future.

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Davidson Realty