Jacksonville Real Estate Trends: Pending Sales are Up to Start 2019!

February 25, 2019


The Northeast Florida Association of Realtors market stats for January reflect the slower real estate market late last year with 1,590 closings in January which is 3% fewer than the 1,638 closings last January. However, the pending sales of 2,197 are up 6% over the 2,070 pending sales in January 2018. The buyers are out and writing contracts.


The inventory situation is slightly better for the spring buyers. There were 3,267 new listings in January which is up 10% over the previous year. There were 8,798 homes available for sale which is up 7%. There are 3.5 months supply of inventory available compared to 3.4 months last year. Five to six months supply of inventory is a balanced market.


Home prices are relatively stable. The median sales price of $205,000 is up 0.5% and the average sales price of $240,463 is down 1.3%.


The National Association of Home Builders just wrapped up their annual meetings in Las Vegas. They surveyed almost 4,000 homebuyers and reported that laundry rooms and energy-saving features are among the most wanted home features. Other features at the top of the list were home-storage needs, such as garage storage and walk-in pantries, as well as hardwood flooring, a patio and exterior lighting.


I wanted to make sure you are aware that the Florida Housing Finance Corporation will relaunch the Florida Hardest-Hit fund Down Payment Assistance Program in five approved counties on March 4th. The program will assist eligible first-time homebuyers in Clay, Duval, Hillsborough, Osceola and Pasco counties by providing up to $15,000 in down payment and closing cost assistance and is forgivable over five years.


It looks like we will have a strong real estate market in Northeast Florida this spring and summer. The Players is back in March and will bring many people to our area. There are many great things happening this spring.


Thank you for your past referrals and support. Please let me know if I can help you with any of your real estate needs.

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Davidson Realty