Jacksonville Fl Real Estate Market Report April 2016
The months inventory is showing a pretty strong seller’s market at 3.33 months. To put it into perspective, I like to pull up the stats from the same month, but in 2005 when the real estate market in Jacksonville was crazy hot. Back then, the number of homes available were only 2,654. There were 1,082 homes that sold in Jacksonville in April 2015, which gave a months inventory of 2.45 months, meaning that at 1082 homes sold, it only took 2.45 months to sell the 2,654 as long as no other homes came onto the market. So this year in April, there was 70 more homes that sold in the same month, but in 2016. So the difference of the same month, but in two different years is only 1,179 homes.
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 165,000 and the other half were less than 165,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.33 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.
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