Davidson Realty, Inc.

Jacksonville Real Estate Trends in November continue to show positive trends!

December 20, 2018

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Posted by in News, Northeast Florida Market Trends

The Northeast Florida Association of Realtors market stats for November 2018 are still showing positive trends. New listings are up 11% year to date which will hopefully give more choices to our potential buyers. The inventory of homes for sale of 9,132 is up over last November but lower than the last 5 months.

The months supply of homes for sale is 3.6 months. A balanced market between buyers and sellers is 5 to 6 months supply.

 

There were 2,191 pending sales in November which is up slightly over last November. Pending sales are up 5% year to date. There were 2,173 closings in November which is down slightly from last November. Closings are up year to date by 3%.

 

 

The median sales price of $216,000 and the average sales price of $258,803 are up 3% over the previous November and 8% year to date.

 

The average days on the market until sale of 61 days is down 6% from last November and 11% year to date.

 

NAR Chief Economist Lawrence Yun and Brian Buffini agree that 2019 sales will be about the same as 2018 and prices will rise more slowly. Yun estimates 2018 will finish with approximately 5.345 million existing-home sales, a decrease from 2017 which was 5.51 million. He predicts 5.4 million in 2019, a 1% increase. He predicts the national median existing-home price to rise to about $266,800 in 2019, up 3.1% from 2018.

 

Brian Buffini is predicting around 5.3 million sales about the same as 2018. He is also predicting properties will stay on the market around 90 days before selling. It should be another good year for the real estate market.

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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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