NEFAR Announces December 2010 Real Estate Sales Results | Business

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NEFAR Announces December 2010 Real Estate Sales Results
Business
NEFAR Announces December 2010 Real Estate Sales Results

The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for December 2010. Statistics encompass both single-family residential and condo sales.

Despite a still struggling economy and the holiday season, the 1,423 closed sales that took place in December 2010 were up three percent over December 2009. Of that number, 653 were traditional sales and 770 were lender-mediated sales. December’s pending sales also showed a strong uptick over last December, jumping 21.4 percent to arrive at 1,340.

Overall, sales prices in December fell by 7.1 percent, with $130,000 being the combined median of traditional and lender-mediated sales. In a continuing trend, however, there is a substantial disparity in the sales prices of traditional and lender-mediated sales. For the fifth consecutive month, the median sales price of traditional sales increased over the respective month a year ago; a healthy 11.7 increase in December to arrive at $181,000. By contrast, December’s lender-mediated median sales price declined by 19.5 percent, dropping to $88,500.

NEFAR President Dane Leslie says, “While a number of positive indicators are reflected in our December figures that point to signs of real estate recovery, it also seems apparent that we will continue to deal with lender-mediated property sales for the foreseeable future.”

Additional results from December are indicative of the market moving toward correction. The 14,529 active listings available during December were 8.1 percent less than a year ago. Month’s supply of inventory dropped to 9.2 months, down 22.1 percent from last December’s 11.9 months.

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