Davidson Realty, Inc.

Northeast Florida Market Statistics for September! Is Increased Home Pricing in Our Future?

October 24, 2011

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Posted by in Uncategorized

“Capital isn’t scarce; vision is.” Sam Walton

This is a profound statement by Sam Walton and very appropriate today. There are a lot of bright people focused on making it through the day instead of looking forward.

The one consistent story in the market statistics produced by the Northeast Florida Association of Realtors for September is the inventory of homes for sale continues to drop. There were 16,280 active properties for sale in September 2010 and there are 32% less properties (11,011) in September 2011.The inventory has dropped every month in the past year. The months supply of inventory is at 7.7 months supply compared to 11.6 months in September 2010, a 34% decrease. The inventory reductions we are seeing should lead to increased pricing in the future.

Pending sales in September 2011 are up 24% over September 2010. The year to date pending sales for  2011 are up 7% over year to date 2010. The North Florida market has averaged 1,450 pending sales a month for the last 12 months compared to a 1,385 average for the previous 12 months. Read more

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