Home Sales Up Locally, Down Across State

2 07 2006

Jacksonville’s steady but unspectacular residential real estate market is starting to look pretty good when stacked up against the rest of the state.

Sales of existing single-family homes in Jacksonville rose 4 percent in May compared with May 2005. That modest increase was the best among the 20 markets in the state tracked by the Florida Association of Realtors. Only three of the 20 markets, in fact, had increases in the number of sales, with Pensacola and Tallahassee being the other two. Sales statewide were down 24 percent from a year earlier.

The median sale price of an existing home in Jacksonville was up 15 percent from a year ago to $208,700. The statewide median price also climbed 15 percent, to $256,400.

Sales of existing condominiums in Jacksonville rose 35 percent in May, though the numbers were a small sample size, with just 230 condos sold. The median price rose 3 percent to $170,900. Statewide, sales dropped 31 percent and the median price was unchanged at $220,000.

Source: The Business Journal of Jacksonville

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