Clay County FL Real Estate Report June 2023
This report is for single family homes in Fleming Island, Orange Park, Keystone Heights, Middleburg and Green Cove Springs.
Inventory levels have come down a little in June, compared to May, even though we are seeing a median sales price of -2.7%. Houses are still selling, even tho the media would have you thinking we are crashing. Real estate agents have been leaving the business at a tune of 60k, based of of the National Association of REALTORS’ figures. We are not even in a bad market. It’s crazy how a little shift has caused so much ruckus. The current interest rates are running back under 7%, as they were over 7 for a few weeks.
Buyers I know that the higher rates have you sitting on the fence. If you would like me to run numbers to see if it could work for you to buy a house at this point, reach out to me. pam@pamgraham.com or 904-910-3516. Never any obligation or pressure. Only you can determine if it’s the right time to buy.
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Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 365,000 and the other half were less than 365,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.10 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.