Buyers are beginning to return in force this spring. For well-priced homes in desirable locations, competition is fierce. The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.

– New Listings in the Northeast Florida region increased 2.8%.  Inventory levels rose 3.1%.

– Prices continued to gain traction. The Median Sales Price increased 2.3 % to $225,000.

– Days on Market was up 3.1% to 67 days. Sellers were encouraged as Months Supply of Inventory was down 2.7% to 3.6 months.

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Source: Northeast Florida Association of Realtors