The median sales price in St Johns County is negative over last year, but we are still in a seller’s market. I know many are hoping for a crash, but it’s not showing those signs. Will it change? Maybe, but none of us have a crystal ball. I do know if the rates go back down to 5 or under, we will see the demand increase again, which will mean prices could potentiality go up again.
So buyers what should you do? Reevaluate your goals. Rates are higher, but you have more choices of houses and builders are offering incentives. Maybe new builds are the way to go. Want to see what homes are available on the market? Check it how below:
Search For Homes in St Johns County Florida
Sellers I didn’t leave you out. Homes are still selling, but you need to be priced competitive and have a home show ready, without a bunch of repairs needed. Would you like to see what your home could sell for in today’s market?
What’s My Home Worth?
Thinking of selling your home? Click below to complete a form, then receive a market analysis within 24 hours.
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 499,500 and the other half were less than 499,500.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.87 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.
