Low inventory continues to be an issue.  The market saw a 20% decrease in number of homes listed compared to the same time last year. Additionally, the median sales price rose to $210,350 – a 15% increase compared to Nov. 2016.  It continues to be a seller’s market.

Click to read NEFAR’s November 2017 stats for yourself

2017 NEFAR President Marc Jernigan’s analysis: “Our market continues to experience low inventory, which spurs competition for available homes. The competition in turn causes rising home prices, as buyers outbid each other in an attempt to get the home they desire. In November, 11.6% of Northeast Florida home sales were for more than the original listing price.”

Source: Northeast Florida Association of Realtors