Jacksonville Fl Real Estate Market Report November 2016
The median sales price in Jacksonville Florida went up 16.9%! That’s a nice jump. Does that mean that mean the value of your house went up by that much? It depends on your house and neighborhood. If you would like to know, check out the link in next paragraph asking about the home value in Jacksonville. If you’re a buyer, does this mean you’ve missed out? No, I will never be one that shouts: now is the time to buy, because that would be a poor assumption on my part, assuming I know what your situation is. Only you can determine if it’s a good time for you to buy. Notice inventory levels are down, while the number of homes sold in Jacksonville are up.
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 166,000 and the other half were less than 166,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.74 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.