The Northeast Florida Association of Realtors published the 2014 August real estate report with in-depth summary of Jacksonville housing real estate market including 29 submarket areas.
In retrospect, pent-up demand continues to push Jacksonville home prices up. Low housing inventory, sustained job growth, lower mortgage rates and a slow rise in the number of homes for sale in Northeast Florida helped boost the home sales and median prices in the second quarter.
New Listings in the Northeast Florida region decreased 6.9 percent to 2,759. Pending Sales were up 21.3 percent to 2,305. Inventory levels fell 7.7 percent to 9,758 units. The Median Sales Price decreased 6.7 percent to $158,500. Days on Market was up 5.1 percent to 83 days. Sellers were encouraged as Months Supply of Inventory was down 16.9 percent to 4.9 months. This indicates the seller’s market.
See full report here.