Davidson Realty, Inc.

Jacksonville Real Estate Trends in February – Pending Sales up 26% from Last February

March 30, 2015

 | 
Posted by in News, Northeast Florida Market Trends

“Accept what is, let go of what was, and have faith in what will be.” – Sonia Ricotti

This is a great quote for everyone in the real estate industry. I have faith in the improving market I see for 2015.

The February market stats from the Northeast Florida Association of Realtors are very encouraging. The most positive trend is pending sales which are up 26% over last February and up 20% year to date. There were 2,341 contracts written in February. The average for the last 12 months was 2,061 while the 12 months prior was 1,849.

New listings are up 6% over last February and 7% year to date. The lender-mediated report shows that distressed new listings are down 25% and traditional listings are up 23% for the month which make up the overall increase in new listings of 6%.There is an economists’ note in the Florida Realtors stats that new listings occur when sellers raise their estimation of value which happens after the market has turned up. New listings are a lagging indicator of the health of the market.

Closed sales are down 5% from last February and 4% year to date. That breaks down further to 20% fewer distressed closings and 7% more traditional closings.

The median sales price is up 13% over last February at $158,000 and the average sales price is up 12% at $200,294.

There are 9,542 properties available for sale at the end of February which is 12% less than last February. There is a 4.6 months supply of inventory which is less than the 5 to 6 months considered a balanced market. The months supply of inventory is 21% less than last February when it was 5.8 months.

With pending sales increasing, we should see closings increasing in the next few months. The prices are increasing and the inventory is low. All of these are good signs for the Northeast Florida real estate market.

Spring is here with March Madness in full swing and as usual there have been some big surprises. Best yet, baseball season is coming soon and that is my passion.

If I can assist you in any way with your real estate questions or concerns, please give me a call at (904) 940-5000. We have 45 great agents serving all of Northeast Florida and 3 full time property managers that would love to help.

, , , , ,
(0) Comments
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • email
  • LinkedIn
  • StumbleUpon
  • Twitter
  • Yahoo! Bookmarks
  • Yahoo! Buzz
About the Author
Sherry Davidson
President of Davidson Realty

Since launching Davidson Realty in 1989, Sherry Davidson has built the firm to include nearly 60 agents and exceed $100 million in annual sales. She is known throughout the First Coast as an authority on all things residential real estate, having served on the Board of Directors for Northeast Florida Association of Realtors, Florida Realtors® (a division of the National Association of Realtors), and Builders Care (charitable arm of Northeast Florida Builders Association).

Thanks to Sherry’s leadership, Davidson Realty has been recognized as one of the state’s Best Companies to Work For (Florida Trend Magazine), as well as one of the region's Best Places to Work and 50 Fastest Growing Companies (Jacksonville Business Journal). Get to know Davidson Realty’s talented team of agents by clicking here or call us at (904) 940-5000.

Comments are closed.

Davidson Realty