Davidson Realty, Inc.

Northeast FL Real Estate Trends in March – Pending Sales, Closings, and Sales Prices are all up!

April 29, 2013

 | 
Posted by in Northeast Florida Market Trends

“If I’d just tried for them dinky singles I could’ve batted around .600.” Babe  Ruth

You know I had to use a baseball quote since the Atlanta Braves have started out so well. You can take what you want from the quote. I am all about doing the basics correctly and having lots of singles, although I have to admit that homeruns are sure exciting. The NEFAR market stats for March make me almost as happy as baseball.

There were 2,375 pending sales in March which is an increase of 41% over the previous March. February was the first month in 24 months with over 2,000 contracts pending (2,005) and March reached 2,375.

There were 1,687 closings in March which is 10% more than the previous March. We are up 19% for the first quarter in 2013 over the same period in 2012. At Davidson Realty, our closings for March of $9 Million are 3 times as much as our closings last March. There are a lot of happy agents around here.

Sales prices are also very positive. The median sales price of $140,250 is up 10% over the previous March and we are up 16% year to date over the same period last year. The average sales price of $188,265 is also up 10% over the previous March and our year to date numbers are up by 8%.

Inventory continues to decline. There are 7,825 properties available for sale which is down 32% since last March. There are 4.5 months supply of inventory which is down 44% from last March. As you may recall 5 to 6 months supply of inventory is considered a balanced market.

In March there were 2,694 new listings which is the most we have seen since early 2011. The interesting and positive aspect about new listings is that lender-mediated listings are down 6% and traditional listings are up 22%. We are seeing many homeowners that have been waiting to sell put their homes on the market. This is very positive because the inventory available is so tight.

Short sales and foreclosures accounted for 40% of the closings in March compared to 43% last March. For Davidson Realty, these properties accounted for less than 15% of our closings. We are seeing a significant increase in new construction and traditional closings.

Whether you are hitting singles or swinging for the fences, I hope you are seeing the same improvements in your business. Please let me know if I can help you in any way with any real estate need.

, , , , , ,
(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