Orange Park Real Estate Market Report January 2016
The year is starting out strong in the median sales price in Orange Park for January. 12.2% increase is a nice way to start out! The month’s inventory is showing a more balanced market, it seems it fluctuates between balanced and a seller’s market. There really isn’t a cut and dry line between the two markets. Such is life right? 🙂 If you would like to know what these stats mean, scroll below the chart to find out.
All neighborhoods are different, so if you’re considering seller and want to know what you can sale in today’s market, click on the following link: What’s my Orange Park Florida Home Worth?
If you’re a buyer looking in the Orange Park area and want to search for homes, the next link is for you: Search for Homes in Orange Park Florida
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 159,900 and the other half were less than 159,900.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 5.15 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.