Jacksonville Florida Market Report
Single Family homes (attached & detached)
January 2012 January 2011
Active Listings: 4,691 Active Listings: 6,517
Sold: 606 Sold: 500
Months Inventory: 7.74 Months Inventory: 13.45
Average Price: 389,472 Average Price: 542,105
I was showing a house the other day and it was bought in April of 2011 for 198k and is now on the market, under contract, with a list price of 214k. Until it’s sold, we won’t know the exact amount it was sold for, but let’s just assume it’s at 214k. This home is NOT a short sale or distressed, because the owners paid cash. (Of course we don’t know what is going on in their life to sell it so quick) Just think, in our current market, they will end up making 16k. We haven’t seen that happen as often in the past 4 or 5 years. Not only did our inventory decrease by a little more than 1800 homes, but we also see that there were 106 more homes sold in January 2012 vs January 2011! Based on inventory levels, we are still in a buyers market, but we are slowly creeping into a stable market.
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!