Jacksonville second in nation for home sales growth in August

Good news for all of us in the Real Estate Industry here in Jacksonville. Prices have been rising by double digit numbers every month this year and the interest here in the Historic District has been incredible. I have sold some incredible homes in Riverside and Avondale so far this year.

Jacksonville’s home sales growth is one of the best in the nation.
Jacksonville’s 34 percent year-over-year increase in home sales was bested only by Minneapolis-St. Paul's 60 percent, according to RealtyTrac’s August 2013 U.S. Residential and Foreclosure Sales Report

There were 3,842 closed sales in Jacksonville in August, up from 2,865 in August 2012. But that number was down 15 percent from July 2013. The growth in sales has spurred a big increase in home building in the past year. The report also takes a look at median sales prices and the types of sales.

For non-distressed homes, Jacksonville’s median sales price rose by 27 percent in August, ranking No. 5 in the nation when compared to August 2012.

Here’s a breakdown of the types of sales for August 2013:

• Percent of sales to institutional investor: 29 percent
• Percent of sales in cash: 65 percent
• Short sales: 21 percent
• REO sales: 9 percent