The 2014 Annual Report on the Northeast Florida Housing Market is out. The sales price and inventory showed improvement but the market recovery was not as strong as in 2013. We saw moderate inventory gains.
Overall, pending sales increased 10.3 percent. That’s the 5th consecutive year of sales gains. Median Sales Price of single-family homes were up 3.0 percent while condos and townhouses increased 4.8 percent.
In almost every community, foreclosure and short sale activity is declining and is near multi-year lows.
In 2015, watch for stronger seller activity to increase inventory levels.
The report is available for download at http://www.nefar.com/filebin/2014MktStatsAnnlRpt.pdf