The number of homes sold in Northeast Florida rose last month, and so did the price they sold for. In fact, the median sales price in the area is getting close to almost twice what it was five years ago.
A total of 2,693 homes, including single-family and condos, were sold in May, according to the Northeast Florida Association of Realtors. That's 245 more than in April and 136 more than May 2016.
That's still a little below the peak summer sales of the past two years, but May through August always see the most activity.
Through May, 11,304 homes have been sold, 181 more than that point last year and 996 above the first five months of 2015.
The sales price jump was more significant. The median price was $210,000 in May, the first time it's been above $200,000 since 2006. In January 2012, the median sales price in the area had plummeted to $115,000.
But as sales increase, the number of homes on the market continues to drop to the lowest it's been since last 2006. The number is now 30 percent below what it was in May 2016.
The drop in available properties came in all price categories, but particularly in homes priced $149,999 and below which fell 45 percent since May 2016.
Homes stayed on the market an average of 73 days before sale, similar to where that figure has been for the last year. That number was below 50 during the buying frenzy of 2005, but rose to 128 in 2011.
