July 2013 NEFAR stats are in....

It won't be long before the housing recovery is simply referred to as housing.
Institutional and cash buyers have effectively priced themselves out of the
market. During the downturn, much inventory was purchased by these groups.
Now that prices are rising, there's less incentive for these kinds of buyers, yet
affordability for consumers remains attractive.

New Listings in the Northeast Florida region increased 41.8 percent to 3,045.
Pending Sales were up 51.9 percent to 2,342. Inventory levels shrank 25.3
percent to 8,305 units.

Prices got a lift. The Median Sales Price increased 25.7 percent to $170,875.
Days on Market was down 29.1 percent to 83 days. Absorption rates improved
as Months Supply of Inventory was down 42.1 percent to 4.4 months.

With mortgage rates slightly up but relatively low by historic standards, the Fed
has indicated no change in monetary policy based on a moderately-paced
economic expansion. Although the unemployment rate remains a factor to
watch, the housing recovery continues to plug along, helping the greater
economy with flourishing activity in sales and prices. Housing has made a
positive contribution to real GDP growth for 11 consecutive quarters.

Northeast Florida July 2013 Statistics

How much is my house worth? Call Liz Bobeck for a free report on your house and the comparables in the neighborhood, call her at (904) 210-6399