Davidson Realty, Inc.

Jacksonville’s Real Estate Trends Show Continuing Decrease in Distressed Properties

November 22, 2013

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Posted by in News, Northeast Florida Market Trends

This month I analyzied the Northeast Florida Association of Realtors‘ real estate trends for October 2013.

There were 29% more contracts written (pending sales) in October than the previous year. We are up 26% year to date in the Northeast Florida market area.

Closings were 7% less in October compared to the previous year; however, we have 23% more closings year to date than last year. It is interesting to look a little deeper because the lender-mediated closings dropped 25% from 706 last October to 533 this year. Traditional closings were up 8% from 891 closings last October to 959 this year. Lender-mediated closings were only 36% of total closings in October compared to 44% last October. It is very encouraging to see less distressed properties and more normal closings. The median sales price of $158,865 is up 16% over last October and prices are up 16% year to date. Read more

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