Davidson Realty, Inc.

April Real Estate Trends Show Pending Sales, Closed Sales and Prices all Improving!

May 22, 2013

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Posted by in Northeast Florida Market Trends

“If there is no wind, row.” Latin Proverb

We have been rowing in the real estate market since 2007, but the wind is back and we are sailing again in 2013.

The market stats from the Northeast Florida Association of Realtors (NEFAR) for April show pending sales, closed sales, and prices all improving.

There were 49% more pending sales (contracts written) in April 2013 than in April 2012. With 2,432 pending sales in April we are very close to the 2,500 pending sales we experienced in the peak of the market in mid 2005.

The 1,840 closings in April are 26% more than last April and the year to date closings are 23% ahead of the same period last year. The lender-mediated closings were 38% of the total closings down from 42% last April. In our office for April, short sales were 25% of our closings and foreclosures were 2%. It is very nice to report that 32% of our closings were new construction.

The days a property is on the market until sale was 98 days in April which is down 15% from 115 days last April.

The median sales price of $152,000 is up 13% over last April and prices are up 14% year to date. The average sales price of $199,124 is up 11% over last April and 9% year to date.

The inventory of 7,869 homes for sale is down 32% from last April. One reason inventory continues to decline is the lender-mediated inventory is down 56% from last April. The non distressed inventory of homes is down 15%. That is a very positive sign.

Since we are seeing quicker sales and some escalation in pricing, many more homeowners are inclined to put their homes on the market. New listings are up 18% over last April. Digging a little deeper, lender-mediated new listings are down 3% and traditional listings are up 31%.

For anyone that is considering investing in real estate, I would like you to know there are still some incredible buys on condos. It is very difficult to get financing on most condos in our area so the price reflects the limited pool of buyers with cash in hand.

May is off to a great start. Jim and I just celebrated our 33rd wedding anniversary and my family made my Mother’s Day very special. I hope you are enjoying this glorious weather and you are prospering with so much improvement in the local economy and the housing market.

Please give me a call if I can assist you with any of your real estate needs.

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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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