Davidson Realty, Inc.

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

September 28, 2018

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Posted by in News, Northeast Florida Market Trends

The Northeast Florida Association of Realtors market stats for August 2018 continue to show the same trends. Pending sales are up and prices are up. New listings are up but the inventory of homes available for sale is down. The closed sales are about the same as last year.

 

One indicator of a healthy market is the days a property is on the market until sale. In August, a home stayed on the market 59 days on average which is down 9% from 65 days last August. The number is down 12% comparing the current year to date to the previous year to date. It is a good sign for the market when homes listed receive such a quick positive market response.

 

There were 3,744 new listings in August which is up 2.4% over last August and 8.1% year to date over the previous year to date. There were 2,673 pending sales in August which is 3.6% more than last August and up 3.5% year to date. There were 2,656 closings which is down 6.2% from last August, but year to date we are right on track with last year up 0.1%.

 

The median sales price is $220,000 and the average sales price is $265,477. Both are up around 7% month over month and 10% year to date.

 

There were 9,237 homes available for sale in August which is down 1.4% from last August. There is 3.7 months supply of inventory available which is down 5.1% from last August.

 

The 2018 Q3 Zillow Home Price Expectations Survey conducted by Pulsenomics LLC asked more than 100 real estate economists and experts for their predictions about the U. S. Housing market. “Three out of four economists surveyed said the national housing market would not shift to a buyer’s market until 2020 or later.”

 

The real estate market and stock market have had a long positive run since the recession. It is nice to see the predictions for a strong market for the near future.

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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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