July home prices, sales up strongly

Prices in northeast Florida up 26% so far this year

Headline Goes Here

JACKSONVILLE, Fla. - Home prices continue to rise strongly the country and in northeast Florida.

The latest report by the National Association of Realtors found second-quarter 2013 year-over-year price nationally showing the strongest gain in seven and a half years, with the median existing single-family home price higher in 142 out of 163 metropolitan areas.

July figures from the Northeast Florida Association of Realtors show closed sales of homes and condominiums year-to-date were up 27.7 percent over this point in 2012, and prices were up 26 percent.

NEFAR reported 1,807 closed sales in July, with 2,342 more pending sales. The number of days a property remains on the market has also dropped from 83 days -- down from 117 days for sales last July.

The median sales price for July home sales was $170,875 -- up from $135,950 a year ago. The group also reported 16.4 percent of homes sold for above listed price.

"Northeast Florida's homes sales are taking place at a brisk pace," said NEFAR President Carol Zingone. "If a home is priced correctly, getting multiple offers within the first couple of weeks is becoming more common."

The national median existing single-family home price was $203,500 in the second quarter, up 12.2 percent from $181,300 in the second quarter of 2012, which is the strongest year-over-year increase since the fourth quarter of 2005 when it surged 13.6 percent. In the first quarter the median price rose 11.3 percent from a year earlier.

Copyright 2013 by News4Jax.com. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.