Monthly Indicators A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS June 2016 Quick Facts Market Overview 2 New Listings 3 Pending Sales 4 Closed Sales 5 Days On Market Until Sale 6 Median Sales Price 7 Average Sales Price 8 9 10 Housing Affordability Index 11 Inventory of Homes for Sale 12 Months Supply of Inventory 13 Housing Supply Overview Report 14 All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 1 + 8.5% Change in Median Sales Price Halfway through 2016, residential real estate markets are performing as predicted at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total months' supply of inventory have been going down. Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand. The message may be repetitive, but it is largely positive. New Listings in the Northeast Florida region decreased 3.0 percent to 3,404. Pending Sales were up 4.3 percent to 2,743. Inventory levels fell 15.1 percent to 9,317 units. Prices continued to gain traction. The Median Sales Price increased 8.5 percent to $196,338. Days on Market was down 8.6 percent to 74 days. Sellers were encouraged as Months Supply of Inventory was down 21.6 percent to 4.0 months. The national unemployment rate recently dropped 0.3 percent to 4.7 percent, but some states felt more of a pinch in their own figures. Similarly, the low inventory situation is showing signs of strain in markets where there are few homes for purchase. With an interest rate increase still in the cards this year, combined with the American political landscape and global economic events, a cooldown could occur by winter. Presently, however, summery growth prevails as many locales are reaching near-record prices not seen in more than a decade. - 15.1% Change in Inventory - 2.0% Change in Closed Sales Area breakouts of 33 submarkets begin after page 21. Percent of Original List Price Received Residential real estate activity comprised of single-family properties, townhomes, and condominiums combined. Percent of Properties Sold Over List Price
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Monthly Indicators A RESEARCH TOOL PROVIDED BY THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS
June 2016 Quick Facts
Market Overview 2New Listings 3Pending Sales 4Closed Sales 5Days On Market Until Sale 6Median Sales Price 7Average Sales Price 8
910
Housing Affordability Index 11Inventory of Homes for Sale 12Months Supply of Inventory 13Housing Supply Overview Report 14
All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 1
+ 8.5%
Change inMedian Sales PriceHalfway through 2016, residential real estate markets are performing as predicted
at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total months' supply of inventory have been going down. Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand. The message may be repetitive, but it is largely positive.
New Listings in the Northeast Florida region decreased 3.0 percent to 3,404. Pending Sales were up 4.3 percent to 2,743. Inventory levels fell 15.1 percent to 9,317 units.
Prices continued to gain traction. The Median Sales Price increased 8.5 percent to $196,338. Days on Market was down 8.6 percent to 74 days. Sellers were encouraged as Months Supply of Inventory was down 21.6 percent to 4.0 months.
The national unemployment rate recently dropped 0.3 percent to 4.7 percent, but some states felt more of a pinch in their own figures. Similarly, the low inventory situation is showing signs of strain in markets where there are few homes for purchase. With an interest rate increase still in the cards this year, combined with the American political landscape and global economic events, a cooldown could occur by winter. Presently, however, summery growth prevails as many locales are reaching near-record prices not seen in more than a decade.
- 15.1%
Change inInventory
- 2.0%
Change inClosed Sales
Area breakouts of 33 submarkets begin after page 21.
Percent of Original List Price Received
Residential real estate activity comprised of single-family properties, townhomes, and condominiums combined.
Percent of Properties Sold Over List Price
Market OverviewKey market metrics for the current month and year-to-date.
All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 9
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Historical Percent of Properties Sold Over List Price
12.4% 12.5% 12.8%
2014 2015 2016
Year To Date
+2.4%+9.8% 0.0% +1.0%
Housing Affordability Index
MonthPrior Year
Current Year
+ / –
July 2015 191 175 -8.4%
August 2015 198 185 -6.6%
September 2015 191 185 -3.1%
October 2015 199 190 -4.5%
November 2015 199 195 -2.0%
December 2015 190 179 -5.8%
January 2016 229 196 -14.4%
February 2016 211 204 -3.3%
March 2016 203 180 -11.3%
April 2016 191 184 -3.7%
May 2016 189 173 -8.5%
June 2016 177 172 -2.8%
12-Month Avg 197 185 -6.2%
All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 11
This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
MonthPrior Year
Current Year
+ / –
July 2015 6.0 5.0 -16.7%
August 2015 5.9 4.8 -18.6%
September 2015 5.8 4.8 -17.2%
October 2015 5.7 4.7 -17.5%
November 2015 5.6 4.5 -19.6%
December 2015 5.3 4.1 -22.6%
January 2016 5.4 4.2 -22.2%
February 2016 5.4 4.2 -22.2%
March 2016 5.3 4.3 -18.9%
April 2016 5.3 4.2 -20.8%
May 2016 5.2 4.1 -21.2%
June 2016 5.1 4.0 -21.6%
12-Month Avg 5.5 4.4 -19.4%
All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 13
Pending Sales 15Days on Market Until Sale 16Median Sales Price 17Percent of Original List Price Received 18Percent of Properties Sold Over List Price 19Inventory of Homes for Sale 20Months Supply of Inventory 21
All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 14
Single-Family
Housing Supply Overview
A RESEARCH TOOL PROVIDED BY THENORTHEAST FLORIDA ASSOCIATION OF REALTORS
+ 18.1% + 11.1% + 9.3%
Price Range With Strongest Sales:
Construction Status With Strongest Sales:
Property Type With Strongest Sales:
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total.
By Price Range 6-2015 6-2016 Change 6-2015 6-2016 Change 6-2015 6-2016 Change
All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 18
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold, not accounting for seller concessions. Based on a rolling 12-month average.
Inventory of Homes for Sale The number of properties available for sale in active status at the end of the most recent month. Based on one month of activity.
By Price Range 6-2015 6-2016 Change 6-2015 6-2016 Change 6-2015 6-2016 Change
All data provided by the Northeast Florida Multiple Listing Service. Powered by ShowingTime 10K. | 21
The inventory of homes for sale at the end of the most recent month, based on one month of activity, divided by the average monthly pending sales from the last 12 months.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Southside / Mandarin / Bartram
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Southside
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Riverside / Avondale / Ortega
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Arlington / Fort Caroline
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Hyde Grove / Murray Hill / Lakeshore / Wesconnett
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
West Jacksonville
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Springfield / Downtown / Paxon / Trout River South / Downtown Jacksonville - E
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
Springfield / Downtown / Paxon / Trout River South / Downtown Jacksonville - E
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Marietta / Whitehouse / Baldwin / Garden St / Dinsmore
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
Marietta / Whitehouse / Baldwin / Garden St / Dinsmore
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Jacksonville - North
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Fleming Island Area
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Orange Park
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Middleburg Vicinity
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Keystone Heights Vicinity
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Green Cove Springs
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Jacksonville Beach
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Neptune Beach
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Atlantic Beach
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
NE St. Johns County – Ponte Vedra Beach North
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Ponte Vedra Bch / S Ponte Vedra Beach / Vilano Bch / Palm Valley
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
Ponte Vedra Bch / S Ponte Vedra Beach / Vilano Bch / Palm Valley
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Ponte Vedra / Nocatee (St. Johns County)
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
St. Johns County - NW
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
St. Johns County - NE
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
St. Johns County - St. Augustine Area - East of US 1
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
St. Johns County - St. Augustine Area - East of US 1
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
St. Johns County - SE
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
St. Johns County - SW
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Putnam County NE
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Putnam County - West
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Putnam County - South
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Baker County
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Clay County
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Duval County
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Nassau County
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
Putnam County
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period. | Current as of July 8, 2016. All data from Northeast Florida Multiple Listing Service. | Powered by ShowingTime 10K.
Local Market Update – June 2016
All MLS
St. Johns County
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.