Davidson Realty, Inc.

Jacksonville Real Estate Trends in April 2015 – Pending Sales, Closings & Prices all up!

May 27, 2015

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Posted by in News, Northeast Florida Market Trends

“Courage is what it takes to stand up and speak; courage is also what it takes to sit down and listen.” ~ Winston Churchill

It takes real courage to work in the real estate industry these days. Even though things are very positive at the moment, the last 8 years have had many false starts and there have been lots of ups and downs. Most of the people I know in our industry continue to be cautious.

The April 2015 Northeast Florida Association of Realtors market stats show a strong spring market. Pending sales, closings and prices are up and the homes available for sale are down. The trends could not be much better.

Pending sales is still the biggest story. There were 2,743 contracts written in April which is 24% more than last April and the year to date pending sales are up 21% over the same period last year. There are lots of buyers out this spring from smaller investors, to first time homebuyers and even move up buyers.

We are seeing more expensive homes selling this spring. In the price range over $400,000; there were 766 contracts written year to date compared to 629 last year for a 22% increase. There have been 598 closings of homes priced over $400,000 this year compared to 512 last year for a 17% increase.

There were 2,201 closings in April compared to 2,002 last April for a 10% increase and we have 9% more closings year to date. It is interesting to see that lender-mediated closings are down 16% and traditional closings are up 26%.

Foreclosures have been in the news again and there was a spike in March. In April 2015 the lender-mediated closings were still 29% of the total in our northeast Florida market area; however, that is down from 38% last April. While 18% of our inventory of homes for sale are distressed properties, it is much better than 30% last April.

The median sales price is $172,000 which is up 11% from April last year. The median sales price is up 9% year to date compared to last year. The average sales price is $208,583 which is up 4% from last April and 6% year to date.

The inventory of homes for sale is at 9,664 which is down 13% from last April. There is 4.5 months’ supply of inventory which is down 25% from last year and slightly below the balanced market of 5 to 6 months of inventory.

Jim and I just celebrated our 35th wedding anniversary and our youngest son became a first time homebuyer. Baseball season is going strong so all is well in my world.

If we can assist you with buying, selling or renting a home, please let me know. We have a wonderful team that truly work as a team to make your real estate experience the best possible. Please give us a call at (904) 940-5000.

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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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