August Home Sales Up in Jacksonville

15 09 2009

Home sales in the Jacksonville area were up in August, and pending home sales were up sharply, according to Northeast Florida Association of Realtors (NEFAR.)

NEFAR credits low interest rates and the $8,000 federal tax credit for first-time homebuyers with boosting sales.

Sales were up 7.3 percent from August of last year, while pending sales were up 47.8 percent. The median sales price of the closed sales was $150,000, down 16.7 percent from a year earlier.

More than a quarter of the sales were lender-mediated foreclosures and short sales, which dragged down the median sale price. Excluding foreclosures and short sales,, the median price was more than $158,000, down 16.7 percent from a year ago.

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