Is the Jacksonville Fl Real Estate Market Crashing?
NOPE. Next question…..I’m just kidding! I’m not going to move on that fast. 🙂 No we are not seeing a crash, but we are seeing a correction, and prices are not going up as much. Check out the chart below. The median sales price for Jacksonville is up only by 1% over March of 2022. That’s definitely much different than spring of 2022. Month’s Inventory is 2.18 for March 2023. That’s still a seller’s market. If you look below the chart, I explain how the different markets change based on how many months it would take to sell the current inventory.
Sellers would you like to know what your home could sell for in today’s market? Click on the link below to let me know a little bit about your home, and I will get back to you in 24 hours.
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If you’re think about buying a home and want to see what homes on the market are selling for checkout:
Search for Homes in Jacksonville
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 295,000 and the other half were less than 295,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.18 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.
