Davidson Realty, Inc.

Northeast Florida Market Stats Continue to Show Recovery in the Housing Market in January 2013!

February 25, 2013

 | 
Posted by in Northeast Florida Market Trends

“To think creatively, we must be able to look afresh at what we normally take for granted.” George Kneller

January 2013 was a great month. We celebrated our 6th year in our building on January 31st. Time sure flies when you are having fun.

The Northeast Florida Association of Realtors market stats for January 2013 continue to show recovery in our housing market. I would like to begin with Pending Sales. There were 1,997 contracts written in January which is an increase of 47% over last January when 1,361 contracts were written. The great news is that pending sales were higher than any month since mid 2006.

There were 1,274 closed sales in January compared to 1,018 last January for an increase in closings of 25%. Lender mediated closings were 45% of those closings. Traditional closings were up by 43% and lender-mediated closings were up by 9% over last January.

Sales prices continue to show improvement. The median sales price in our market of $136,000 is 24% higher than last January’s price of $110,000. The average sales price of $167,045 is 12% higher than last January’s price of $149,844.

There were 7,816 active listings at the end of January which is 32% below the 11,448 listings available last January. The months supply of inventory is down to 4.7 months. Five to six months is a balanced market in most price points. We are below a 5 month supply for properties below $300,000.

Pending sales, closings and sales prices are improving. As a result, I believe we will see more homeowners that have been waiting to sell their homes, put their homes on the market. We saw a small increase of 2% in new listings over last January.

Taking for granted that there is too much inventory, not enough buyers and prices are dropping is a mistake. All of that has changed. Our inventory is shrinking, we have many buyers, and prices are increasing. We need to be creative now and look afresh at our market.

If you know of anyone that has considered selling their home and would like to understand the value of their home now, please give me a call. We would love to assist them.

, , , , ,
(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