Newspaper article The Florida Times Union

Prices of Homes in Area Make a Big Leap; Median Selling Prices Are Running 2.8 Percent Higher Than Last Year

Newspaper article The Florida Times Union

Prices of Homes in Area Make a Big Leap; Median Selling Prices Are Running 2.8 Percent Higher Than Last Year

Article excerpt

Byline: Roger Bull

Home prices in the Jacksonville area showed a substantial increase for the second month in a row, according to the Northeast Florida Association of Realtors' report for April.

The median selling price for the month rose to $137,500, up from $130,000 in March and $119,700 in February. So far, median prices are running 2.8 percent above last year's.

Average prices also saw a gain from $156,663 in February to $172,285 in March to $184,246 in April.

Other positives showed the average days on the market dropped slightly to 115 and the percent of asking price received rose slightly to 90.2 percent.

Closed sales did drop from 1,520 in March to 1,365 in April. But pending sales, where a contract has been signed, rose for the fifth month in a row.

The big gap still remains between traditional sales, with a median price of $170,000, and lender-mediated sales (foreclosures and short sales) with a median price of $90,000.

In April 2011, lender-mediated sales accounted for 50.3 percent of all closed sales. In April 2012, they accounted for 38 percent. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.