Local, Statewide Home Sales Drop in November

The slowdown in the housing market intensified in November both locally and across the state, as home sales dropped sharply and median prices stayed flat.

The number of single-family existing homes that sold in the Jacksonville area in November dropped 19 percent compared with November of last year. The median price of those homes was $182,000, down $200 from the same time last year. The figures are from the Florida Association of Realtors and do not include numbers from the St. Augustine & St. Johns County Board of Realtors.

The drop in sales in Northeast Florida was less dramatic than in the rest of the state. Sales were down in 18 of the 20 markets tracked by FAR, with the only increases being in Ocala (1 percent) and Sarasota (2 percent). Statewide sales were down 30 percent from last November, and 15 of the markets had declines greater than Jacksonville's.

The statewide median price was down 3 percent to $242,500, with the median price dropping in 13 of the 20 markets.

Sales of existing condominiums were also down locally and statewide. In Jacksonville, sales were off 55 percent and the median price was down 4 percent to $167,100. Those numbers do not include figures from the St. Augustine & St. Johns County Board of Realtors. Across the state, sales were down 36 percent and the median price of $206,000 was down 4 percent.

Source: National Association of Realtors