More homes in Northeast Florida sold in February than the month before with higher median prices, the Northeast Florida Association of Realtors (NEFAR) said. The housing supply is also increasing.

JACKSONVILLE, Fla. – Data from the Northeast Florida Association of Realtors (NEFAR) revealed a 31.5% increase in closed sales for February, totaling 1,491 sales closed, compared to the month before. Median prices of single-family homes increased 2.8% to $385,000 for Northeast Florida.

Homes also remained on the market a median of 35 days, or 31% less time than in January. The data also show a 22.2% increase to 6,204 in the number of single-family homes for sale in February.

 “When it comes to the Northeast Florida housing market, February’s market statistics looked more like the spring buying season than winter,” NEFAR officials said.

NEFAR President Rory Dubin said, “Northeast Florida remains an attractive destination for families, retirees, investors and corporate relocations as well as commercial properties.”

The region’s Home Affordability Index dipped 2.9% in February as homes became slightly less affordable for many people as home prices increased in Northeast Florida. Homes were 9.3% less affordable than a year earlier, according to NEFAR.

Source: Jacksonville Today (FL) (03/11/24) Roguski, Randy; Brown, Will

© Copyright 2024 Smithbucklin

Go to Source
Author: amyc