Jacksonville Home Prices Up Nearly 20% in November

The median sales price for homes in Jacksonville took a nice bump in November — rising nearly 20 percent year over year.

The median sales price last month was $154,000, up 18.9 percent from November 2012, according to the latest data from the Northeast Florida Association of Realtors (NEFAR.)

“November’s numbers are encouraging and show a substantially stabilized market,” NEFAR President Carol Zingone said in a news release. “Lender mediated properties are declining, and while prices have risen to the point where sellers are getting more of a return on their investment, prices overall are still within reach for most buyers.”

Here are some other key figures from the report:

• Closed sales were 1,531, down 1.9 percent.
• Inventory of homes for sales was 9,203, down 10.7 percent.
• Months supply of inventory was 4.9, down 26.9 percent.
• Pending sales were up 14.7 percent, to 2,357.
• New listings were up 21.9 percent to 2,357.

Source: Northeast Florida Association of Realtors and Jacksonville Business Journal