Jacksonville Fl Real Estate Market Report September 2017
This report is going to show some side affects from Hurricane Irma on the real estate market in Jacksonville. Last month in August, there were 1,231 homes that sold, where in September we see 888 homes sold. You will also notice that in Sept 2016, there were 1,088 homes sold. We obviously see a decrease in that number. I’ve heard stories of buyers who backed out of a deal, just days before closing, before the storm hit. I think they were afraid they would buy a house, only to see damage or worse, days after due to the storm. I have not looked at the numbers for October yet, since we are not through the month, but I predict we could see less homes sold in October vs Sept, just for the fact that there have been many homes with roof damage. Waiting for the insurance companies to pay their claims and have a new roof installed can delay closings, or even cause some owners to wait to put their home on the market.
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 190,000 and the other half were less than 190,000.
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.
Homes for sale in Northeast Florida: