After end-of-year and the holiday bustle, January is typically a sluggish month for home sales, and this year was no exception. Key indicators:
– 1,590 sales; a 2.9% drop from 1,638 in Jan. 2018.
– $206,000 median price is up .5% from a year ago.
– $240,463 average sales price; down 1.3% from a year ago.
– Average days on market: 71.
– 3,267 homeowners joined the ranks of home sellers; a 10.3% increase in new listings from Jan. 2018.
– Overall inventory 8,798, up 7.2% from a year ago.
– Months’ supply of homes on hand: 3.5, slight uptick from 3.4 a year ago.

2019 NEFAR President Jeanne Denton-Scheck said, “January saw the smallest number of home sales in Northeast Florida in more than a year. After a record-breaking 2018 with nearly 30,000 sales, the slower pace is not particularly surprising.”

Click to read NEFAR’s January 2019 Real Estate Market Report

Click to Stay Updated on Your Home’s Value in The Market

Source: Northeast Florida Association of Realtor