Davidson Realty, Inc.

The May Market Stats Show Increasing Pending Sales & Closing

June 26, 2019

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Posted by in Ask Sherry, News, Northeast Florida Market Trends

The Northeast Florida Association of Realtors market stats for May 2019 show increased pending sales and closings. Prices continue to rise, but at a slower pace than the previous few years. Home sales had weakened late last year when interest rates on mortgages spiked, but the declining rates and strong economy in Northeast Florida have the numbers outpacing 2018 year-to-date.

 

There were 3,114 contracts written in May which is up over 5% for the previous May and year-to-date. There were 3,091 closings in May which is up over 4% month-to-month and year-to-date. The median sales price of $232,000 is up 2% year-to-date. The average sales price of $276,429 is up 1% year-to-date.

 

The days on market until sale is 66 days which is the lowest number since November 2018. There are no concerns about the amount of inventory available or months supply of inventory which is 3.6 months.

 

Wells Fargo Senior Economist Mark Vitner has positive comments about Florida. “We expect economic growth to moderate this year, as the national economy slows. Florida is poised to remain one of the nation’s fastest-growing states; however, and growth remains remarkably broad-based across industries and geographies.”

 

Our great team at Davidson Realty and Davidson Property Management are here to serve you. If you would like to buy a home or investment property or sell your existing home, please give us a call.

 

Have a wonderful July 4thholiday!

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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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