September 2018 Continues to be Positive Despite Many National Reports

October 30, 2018


As we are getting closer to Thanksgiving, I want to express my gratitude for your friendship and support. I especially want to thank everyone who supported our 2018 Davidson Cares Clay Day. Because of you, the shoot raised over $52,000 which, with some matching funds, will contribute more than $100,000 to St. Augustine Youth Services and Investing in Kids. This is a substantial increase from the results of our 2017 shoot.


The Northeast Florida Association of Realtors market stats for September 2018 continue to be positive despite many national reports of the housing market shifting from a seller’s market to a more balanced market. Most articles I read about the national real estate market discuss days on market increasing and home sales declining.


An article by Florida Realtors says the median time for a home to go to contract remained stable at 38 days for single-family homes showing the continued strength of the state’s housing market. It is interesting to note that the statewide median sales price for single-family existing homes was $251,610 in September and the National Association of Realtors national median sales price for existing single-family homes was $596,410 in August. It looks like some of the markets around the country might be a little overheated after rapid price increases and need an adjustment.



As it relates to our local statistics, please keep in mind last September’s numbers include the impacts from Hurricane Irma.  A great example is new listings in September are up 38% over last September which is Irma related. New listings are up 10.5% year to date over the previous year.


There were 2,344 pending sales in September which is up 23% month over month. We have an increase of 5% year to date. There were 2,132 closings in September which is 6% more than last September and we are up 2% year to date.


The median sales price of $215,000 and the average sales price of $256,108 are each up 3% over last September and up around 9% year to date.


Overall, the real estate market in Northeast Florida is stable. Based on what is happening in other parts of the country, we may begin seeing a shift to a more balanced market from the seller’s market we have seen recently. It may be a good time to get your house on the market if you have been thinking about selling.


Please let me know if we can help you with any of your real estate needs. We appreciate your support and continued referrals. Enjoy the World Series!

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