The Northeast Florida Association of Realtors’ compilation of real estate market statistics for July 2013. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
• 1,807 closed sales were an 18 percent increase from the prior July. Year to date, closed sales are up 23.7 percent.
• Pending sales up 51.9 percent to 2,342; July 2012 had 1,542 pendings. Year to date, closed sales are up 32.3 percent.
• Days on market until sale dropped to 83, a 29.1 percent reduction from last July’s 117 days.
• Median sales price hit $170,875; a 25.7 percent increase from $135,950 a year ago. The median is up 15.4 percent year to date.
• Percent of original list price received was up 4 percent from a year ago, coming in at 94.5 percent.
• The percentage of properties sold for more than the listed price was 16.4; same as July 2012. Year to date, 19.9 percent of properties have sold for more than the listed price.
• More sellers are starting to put their homes on the market, with new listings jumping 41.8 percent from a year ago to hit 3,045 for the month.
• Despite more listings entering the market, the increase in sales resulted in inventory dropping 25.3 percent from a year ago, leaving 8,305 properties.
• Months’ supply of homes is now at 4.4 percent; a 42.1 percent decrease from July 2012. Five- to six-months supply is considered a balanced market.
• Of the 1,807 closed sales, 588 were lender mediated and 1,219 were traditional. The share of activity that was lender-mediated properties dropped from 42.6 percent a year ago to reach 32.5 percent in July.