Jacksonville-Area Home Prices Fell Slightly In August From Prior Month’s Peak
The buying fever that drove up Jacksonville home prices cooled slightly in August, with median sales price dropping back to $300,000, data released Friday by the Northeast Florida Association of Realtors showed.
That price remained extraordinary for Northeast Florida but was still down $5,000 — about 1.6 percent — from the record-setting level seen a month earlier.
New listings and closings of home purchases also dipped in August, although the 3,424 houses with sales pending in August represented a few dozen more than a month earlier.
Although it was the first month this year when median prices dropped, the housing market remained hot as the summer wound down.
“Buyer fatigue and summer vacations brought a slight increase in inventory in August, but it is still not enough to balance buyer demand,” NEFAR President Missi Howell said in a release that accompanied the monthly data.
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