Davidson Realty, Inc.

Northeast Florida Real Estate Trends for September 2010

October 26, 2010

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Posted by in Northeast Florida Market Trends

sherrySo, last month I explained to you all that I was being called a “Negative Nancy” at work, but I have received tons of great feedback for providing you with the TRUE market stats instead of trying to put a positive slant on the information. So this month, I’m hitting you with the facts again! I am providing a table from the Northeast Florida Association of Realtors (NEFAR) statistics, so I don’t have to be positive or negative – you choose how to look at it!

 

July 2010

August 2010

September 2010
Pending Sales

1,502

1,553

1,502
Closings

1,364

1,394

1,178
Median Price

$137,000

$132,500

$130,000
Average Price

$168,974

$169,620

$168,787
Listings Available

15,985

15,762

15,266
Month of Inventory

11.0

10.6

9.9
Closings – Lender Mediated

46.6%

51.4%

54.8%

As you can see, pending sales haven’t changed very much in the last few months. The September 2010 pending sales are 6.6% higher than September 2009 when there were just 1,409.

The closed transactions were down in September 2010 from the previous month and down 14.5% from September 2009 when closings were 1,377. There is a positive trend in closings year to date. The total closings dropped from 24,367 in 2005 to 22,366 in 2006, 16,775 in 2007 and 12,604 in 2008. They went back up in 2009 to 14,524 and we already have 12,317 closings in 2010 with three months data to be included.

The median sales price continues to decline and is down 10.3% from September 2009 when the median price was $145,000. The average sales price hasn’t changed much and is down 3.4% from September 2009 when the average price was $174,701.

The active listings available and month’s supply of inventory continue to decline which is a positive trend.

If you or anyone you know would like to understand the home values in your neighborhood a little better, we have a great tool on our website called Listingbook that will allow you to see what is listed and selling in your neighborhood. Just go to DavidsonRealtyInc.com and click on “Search like an Agent” to sign up!

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