Housing Slowdown Milder in Jacksonville

21 08 2006

The housing market continued its slowdown in Florida in the second quarter, according to figures from the Florida Association of Realtors. The 1 percent drop in sales of existing single-family homes in Jacksonville, in fact, made it the strongest (along with Tallahassee) of the 20 markets tracked by FAR.

Across the state, sales of existing single-family homes in the second quarter dropped 27 percent from the same period a year ago. Jacksonville and Tallahassee were the only markets without double-digit declines in sales, and 15 of the 20 markets had declines of more than 20 percent.

The median price of the homes sold, on the other hand, continued to rise, though not at the pace seen in previous years. In Jacksonville, the median price of $207,300 was up 12 percent from a year ago, and the statewide median price of $254,800 was up 9 percent from a year ago.

Local figures did not include data from the St. Augustine-St. Johns County Board of Realtors and the Amelia Island-Nassau County Association of Realtors.

Sales of existing condominiums were up 10 percent in Northeast Florida (not including data from St. Johns County) while the median price of $167,700 was down 1 percent from a year ago. Across the state, condo sales dropped 33 percent while the median price rose 1 percent to $219,100.

Source: Florida Association of Realtors


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