Sales in Jacksonville increased over last years numbers. There were 701 "normal" sales and 614 "distressed" sales in September. Inventory dropped an incredible 32%. Guess what? We're almost down to a "normal market". When we have a 5-6 month supply of properties on the market, we're considered "normal". In September we were down to a 7 month supply. Along with the good news, there is some bad news (for sellers anyway). Prices on normal sales dropped 6.5% and prices on lender mediated (short sales and foreclosures) ROSE 4.5%!!! So in a nutshell: inventory down. Foreclosure prices up. Normal sales prices down. We are very close to a "normal" market!!!
A place to find out what's REALLY going on in the Northeast Florida area real estate market.