Davidson Realty, Inc.

Northeast Florida Market Stats Show Improvement in Every Category for 2012!

January 25, 2013

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Posted by in Northeast Florida Market Trends

I want to begin this month’s letter with one of my favorite Zig Ziglar quotes about Thomas Edison and persistence. What a priceless man Zig was. “The only difference between the big shot and the little shot is the big shot is simply a little shot who kept shooting.”

The Northeast Florida Association of Realtors Market Stats for 2012 indicate improvement in every category for the first time in the previous six years.

Pending sales in December 2012 of 1,748 contracts written are 43% more than December 2011. Pending sales for the last 4 months have been between 23% and 44% higher than the previous year. We have 17% more pending sales for the year than in the previous year.

The closed sales of 1,555 transactions in December are 8% higher than last December. We have 6% more closings for the year 2012 than in 2011. The number of closings is improving, but the process is still very difficult due to the lending and appraisal regulations. Lender-mediated properties accounted for 43% of the closings in December which is down from 48% last December.

The days a property is on the market until sale averaged 112 days in 2012 which is 7% fewer days than 121 days in 2011. The days on market is almost completely dependent on pricing. Properties priced reasonably based on real market research result in a reasonable sales period.

The median sales price in December of $142,950 is up 14% from the previous December price of $125,000. The year to date median sales price is $133,500 which is 7% higher than the 2011 median price of $125,000.

The average sales price in December of $199,258 is up 22% from the previous December price of $163,620. The year to date average sales price is $179,482 which is 8% higher than the 2011 average price of $166,097.

The inventory continues to decline with 7,558 homes for sale in December 2012 which is 34% less than the 11,373 available in December 2012. We now have 4.6 months supply of inventory which is less than the 5 to 6 months for a balanced market. As I have mentioned before, when a good property hits the market, it is not unusual to see multiple offers.

I wish you a prosperous 2013! With persistence you will be a “big shot”- keep shooting. Thank you again for all the referrals during 2012. Our year was a success because of you!

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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.

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