Jacksonville Florida Market Report
Single Family homes (attached & detached)
April 2012 April 2011
Active Listings: 4,527 Active Listings: 6,175
Sold: 694 Sold: 732
Months Inventory: 6.52 Months Inventory: 8.44
Average Price: 550,721 Average Price: 518,562
Yep, your eyes are not playing tricks on you, that’s the 2nd month in a row with a balanced inventory! I’ve been doing these market reports for over a year now and along the way I would hear real estate agents shouting, it’s time to buy, over and over. While I didn’t necessarily disagree with them completely, I kinda felt it was slightly misleading. I mean can you blame them, they just wanted to sell some houses and get the real estate market moving again, but as a buyer wanting to save money and not pay an arm and a leg, I can see where it would be a turn off. Is it a good time to buy now? Well, look at the numbers, we are in a balanced market, and if we continue the same way we are going, next year at this time, should definitely be a seller’s market. Only buy a house though, if you have your financial house in order. A savings of 3-6 months worth of expenses, a down payment, money for closing costs. Be smarter than homeowner’s before you. In my opinion, the biggest reason for the real estate meltdown was homeowner’s being in debt, little to no savings, using their home as an atm, and buying way more then they could afford. Ok, I guess that was more than one reason, but all related.
And now for a Blast in the Past…………..
Active Listings– The amount of active listings in the month reported
Sold– The amount of sold listings that closed in the reported month.
Months Inventory– How many months it would take to sell the current inventory based on the sold amount.
Avg Sale Price– Average sale price of the sold houses in the reported month.
SP/OLP Ratio– Sales price to Original List Price, this is the percentage showing the difference of what the house was originally listed for and what it sold for.
Days on the Market– The length of time it took the house to get under contract from list date.
Sold REO– How many homes sold that were foreclosures (REO=Real Estate Owned).
Sold Short Sales– How many homes sold, that were short sales
Want to know what these numbers mean to you when selling your Jacksonville Florida Home? Call me at 904-910-3516 and find out!