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Jacksonville-Area Home Prices Fell Slightly In August From Prior Month’s Peak

In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold.
Elaine Thompson
/
Associated Press
In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold.

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.

Read the full story at Jacksonville.com.