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Nearly 35,000 home sales closed in 2020, up 8.2% from 2019, according to the Northeast Florida Association of Realtors 2020 annual report.
The report encompasses Baker, Clay, Duval, Nassau, Putnam and St. Johns counties.
The year ended in a low inventory market with a 1.5-month supply of houses for sale, down from a 3.2-month supply at the end of 2019.
NEFAR President Missi Howell.Home sales surge comes amid low inventory
A typical market would have a 6-month supply, said NEFAR President Missi Howell. She estimates the market has had less than a 4-month supply since about 2016.
At the end of 2020, 4,549 homes were on the market. At the end of 2019, 8,569 homes were on the market.
Affordable housing: What are the options in Northeast Florida?
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JACKSONVILLE, Fla. – Skyrocketing housing prices might be great news if you’re a current homeowner, but what about folks looking for affordable housing options in our area?
Carrie Davis with Wealth Watchers, an organization dedicated to providing affordable housing opportunities, pointed out that the average price for homeownership, according to the Northeast Florida Association of Realtors, is $240,000.
That’s far out of the range of what’s considered affordable housing, she said.
She said the median income in Jacksonville, according to HUD, is $75,000, so folks making about $60,000 a year are considered moderate income. Affordable housing is defined as housing available to those who make less than the median income.
Bonnie Heatzig
Bonnie Heatzig, The Luxury Real Estate Authority, leads South Florida’s ultra-luxury waterfront real estate market. Since becoming a Realtor in 2004, Bonnie has sold more than $400 million in real estate and counting. She is a member of Florida Ass. Read more
Bonnie Heatzig, The Luxury Real Estate Authority, leads South Florida’s ultra-luxury waterfront real estate market. Since becoming a Realtor in 2004, Bonnie has sold more than $400 million in real estate and counting. She is a member of Florida Association of Realtors and Realtors of the Palm Beaches. She was recognized as the Top ½ of 1 percent of all Realtors in Florida based on sales volume by Real Trends/Wall Street Journal in 2020.