While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers.
New Listings in the Northeast Florida region decreased 1.2 percent to 3,515. Pending Sales were up 21.9 percent to 3,626. Inventory levels fell 24.1 percent to 7,545 units. Prices continued to gain traction. The Median Sales Price increased 5.4 percent to $255,000. Days on Market was up 9.4 percent to 70 days. Sellers were encouraged as Months Supply of Inventory was down 26.3 percent to 2.8 months.
While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to
