Jacksonville Fl Real Estate Market Report December 2016
Ending the year on a good note, showing all stats to be improvements over last year. Overall, we are in a seller’s market for the month of December in Jacksonville. Days on the market are shortening, seller’s are getting closer to their asking price, inventory levels have dropped since last month, and the median sales price for homes in Jacksonville has increased by 3.1%. Not too shabby and should make sellers happier going into the new year.
You might be wondering if that applies to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click: What’s my Jacksonville Florida Home Worth? If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 165,000 and the other half were less than 165,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.30 months to sell the active homes, if no other homes came on the market. How to determine what type of market we are experiencing:
Buyers’ Market: More than 7 months of Inventory
Balanced Market: From 5-7 months of Inventory
Sellers’ Market: Less than 5 months of inventory
Average Days on the Market: This is the average based on the time the house came on the market until is went under contract.
Original List Price to Sales Price: This is the percentage of what the home sold for compared to what it was originally listed for. Not what it was listed for at the time it went under contract.