Homes in NE Florida sell faster than 1 year ago

About 3K fewer homes for sale in Duval, Clay, St. Johns, Nassau counties

Published On: Jan 30 2013 04:46:34 PM EST   Updated On: Jan 25 2013 01:37:51 AM EST

The real estate rollercoaster during what economists have dubbed the Great Recession appears to be getting smoother, at least in most parts of Northeast Florida.

One local real estate agent told Channel 4 the amount of homes on the market has dramatically decreased. Records show around 3,000 fewer homes are on the market now than there were a year ago.

According to agent David Elian, it's a good time to be a seller because "their homes are actually selling."

Channel 4 found it's taking less time for realtors to sell a house in surrounding counties. 

In Duval County, it took more than three and a half months to buy a home last year. In 2013, it's down to three months.

In Clay County, the figure was at just over four months last year compared to three and a half months this year.

The numbers are similar in St. Johns County, with Nassau being the only county lagging behind. At the end of 2011, it took a little over four months to sell the homes in Nassau. Now it's up to over seven months.

"What that produces is a very high inventory. You had high supply and low demand. And now it's shifted and so now we've got a higher demand and lower inventory," said Elian.

The public's perception of the housing market depends on who you ask.

"I heard about that, but I'm not frankly believing it, because I just feel like the market is going up again, then it's going to drop down again," said Mike Lamparello. 

"The economy's starting to get a little better and inventory's going down on existing homes. So I mean that's the way it goes. Reduce your inventory, prices will eventually go up," said William Hector.