It is worthwhile to mention the weather when discussing residential real estate for large portions of the U.S. for February 2019, because this month has turned in some impressively cold and rainy days that have stalled some buying and selling actions. Nevertheless, housing markets have proven to be resilient despite predictions of a tougher year for the industry. It is still too early to say how the entire year will play out, but economic fundamentals remain positive.

New Listings in the Northeast Florida region increased 3.9 percent to 3,351. Pending Sales were up 4.6 percent to 2,454. Inventory levels rose 5.2 percent to 8,942 units. Prices continued to gain traction. The Median Sales Price increased 1.4 percent to $221,000. Days on Market was up 5.5 percent to 77 days. Absorption rates were even with last year as Months Supply of Inventory remained flat at 3.5 months. 

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Source: Northeast Florida Association of Realtors