Davidson Realty, Inc.

February 2010’s NEFAR Statistics: 3 Facts to Know

March 26, 2010

 | 
Posted by in Northeast Florida Market Trends

I enjoy analyzing the market stats from the Northeast Florida Association of Realtors (NEFAR) each month and I continue to be optimistic about the real estate market, but I wanted to share 3 facts that may surprise you.

First, we are having a great sales month at Davidson Realty and pending sales are up dramatically at NEFAR from 1,244 pending sales in January to 1,627 in February, which leads to the first surprise. I always believed that pending sales would close. It is logical but it isn’t true. I can’t tell you how many homes we have sold multiple times!

The second surprise is that even though our inventory levels are steadily improving and we have an 11 month supply of homes, condos and townhouses available in all price ranges, amazingly there is a 70 month supply of single family homes listed at $1,000,000 plus. I am not sure with the passage of the Health Care Bill that any of us will live long enough to see these homes get sold.

The third fact isn’t a surprise, but lender mediated closings were 49.7% of all closings in February, 2010 down from 50.1% in January.

The closings in our market have improved over last year and I will share those numbers below.

September 2009 closings 1,364  September 2008 1,151
October 2009   1,379  October 2008  1,025
November 2009   1,184  November 2008    795
December 2009  1,378  December 2008 1,123
January 2010     897  January 2009     701
February 2010     935  February 2009     873
March 2010       ?  March 2009  1,063

As you can see, the closings at the end of 2009 were better than the previous year. When I looked at January and February 2010 closings, it was comforting to see a similar drop last year. The big question is what the next few months will bring in the way of closings. That is the main statistic I am watching since as I shared above sales are great, but they don’t always make it to closing.

The median and average sales price this month continues to show signs of stability. There was a slight dip in pricing in January and a slight increase in February.

If you are interested in receiving our electronic Davidson News twice a month which includes our Best Buy List voted on by our agents, please send me an email at sdavidson@davidsonrealtyinc.com.

, , , ,
(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