Last year was a banner year for Northeast Florida home sales and inventory is scarce as a result.
The year finished with 26,605 sales, according to the 2015 annual report on the Northeast Florida housing market.
That’s up 11 percent from the year before and the largest number of sales since 2006.
The supply of homes for sale in December plummeted to 3.7 months, dropping from 5.3 months’ supply in December a year ago. Five to six months inventory is considered a balanced market.
Data for the report was compiled by the Northeast Florida Multiple Listing Service. The annual report was posted on NEFAR.com by the Northeast Florida Association of Realtors.
Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.
Report highlights:
• 26,605 homes changed hands, marking the largest number of closed sales since 2006, when more than 35,000 homes were sold.
• Despite 36,707 new listings being added to the market in 2015, the year ended with a depleted inventory of only 8,537.
• The median sales price for 2015 was $170,000, up from $159,000 in 2014.
• Days on market until sale averaged 83, two days less than 2014.