Sales are slowing, inventories are rising and homes have never been so expensive in Northeast Florida, according to the Northeast Florida Association of Realtors.
“Observing a longer data history, this is by far the biggest seasonal slowdown seen in many years,” the organization said in a news release Nov. 9 about October market conditions.
“The monthly supply of inventory in the region increased to 3.5 months,” NEFAR President Diana Galavis said in the release, noting there was a 19% increase since September. “Overall, the Northeast Florida market is strong with the sales median holding with very little change.”