Jacksonville Home Sales in Q3 Up Slightly While Median Price Slipped

21 11 2010

Jacksonville area Realtor-brokered home sales went flat in the third quarter as compared to the same period last year as median sales prices slipped.

There were 3,386 single-family home sales in the Jacksonville metropolitan area in July, August and September, according to data from the Florida Association of Realtors. That represented just a razor-thin increase — nine sales more than the same quarter in 2009.

At the same time, the median price of Jacksonville area houses sold during the quarter fell by 6 percent — from $150,600 in 2009 to $141,200.

That was better news than the sales data for the whole state during the quarter, however. Statewide, sales fell 7 percent, from 44,451 to 41,122. The news wasn’t good in median prices, either, as that figure fell from $145,300 to $135,200 — also a 7 percent drop.

The condominium market picked up sharply in volumes but fell in median sales prices, also sharply, both in Jacksonville and statewide during the third quarter, FAR data shows.

Sales volumes rose from 417 to 638 in Jacksonville, a hefty 53 percent increase. Statewide, sales rose from 14,793 in the third quarter of 2009 to 16,938 in the third quarter of this year.

But third quarter median condominium sales price drops also were in double digits, both locally and statewide. The Jacksonville median sales price dropped 31 percent, from $112,300 to $77,200; the statewide drop was 21 percent, from $106,000 to $84,000.

Source: The Florida-Times Union

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