The May Market Stats Show Increasing Pending Sales & Closing

June 26, 2019


The Northeast Florida Association of Realtors market stats for May 2019 show increased pending sales and closings. Prices continue to rise, but at a slower pace than the previous few years. Home sales had weakened late last year when interest rates on mortgages spiked, but the declining rates and strong economy in Northeast Florida have the numbers outpacing 2018 year-to-date.


There were 3,114 contracts written in May which is up over 5% for the previous May and year-to-date. There were 3,091 closings in May which is up over 4% month-to-month and year-to-date. The median sales price of $232,000 is up 2% year-to-date. The average sales price of $276,429 is up 1% year-to-date.


The days on market until sale is 66 days which is the lowest number since November 2018. There are no concerns about the amount of inventory available or months supply of inventory which is 3.6 months.


Wells Fargo Senior Economist Mark Vitner has positive comments about Florida. “We expect economic growth to moderate this year, as the national economy slows. Florida is poised to remain one of the nation’s fastest-growing states; however, and growth remains remarkably broad-based across industries and geographies.”


Our great team at Davidson Realty and Davidson Property Management are here to serve you. If you would like to buy a home or investment property or sell your existing home, please give us a call.


Have a wonderful July 4thholiday!

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