The Jacksonville Real Estate Market April 2023

This report is for single family homes in Jacksonville Florida. If you scroll down to the chart below, under 2023, you will see the median sales price is down by 3.7% compared to last year. I can hear the cheer from buyers all over Northeast Florida. Now if those rates would come down, but then if they did come down to under 5%, we would see the demand rise again. It’s a catch 22. If you check out the month’s Inventory, 2nd row 1st column, the 2.49 number represents how many months it would take to sell 2,210 homes at the rate of 887 homes sold. That’s still showing a seller’s market. Overall, I’m not concerned about the median sale price being less this year than in April 2022. Yet. Here’s why I’m not worried….. I believe in presenting the facts, and not cry wolf, or the sky is falling that some do to increase clicks or sell more homes. We are seeing corrections to the market, so we need to keep an eye on things the next coming months. Inflation has a hand in this, along with higher rates.

Buyers with these changes turning to your favor, would you like the check out what homes are available in the current market:

Sellers, the good news for you is that there are more homes to choose from for when your home sells. The first thing is to see what your home could sell for in this market:

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 290,000 and the other half were less than 290,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.49 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.

Would you like to check out previous real estate reports for Jacksonville Florida?

Mandarin Place Neighborhood in Jacksonville Florida

Mandarin Place is a slightly older neighborhood right off the scenic Mandarin Drive in Jacksonville Florida. When I say scenic, I am not kidding either! Take Mandarin Road and find out for your self. Jump on Scott Mill Road too. Such a nice ride. Speed limit is like 25-30mph, so it’s a slow speed to be able to take in all the large trees and beautiful homes.

Then come home to Mandarin Place and continue that beauty! The homes range from 1985 up to 1990, so trees have had a long time to grow and provide shade and character. Many different elevations and sizes too. Starting over 1,400 square feet and goes up to almost 3,800. Big variety to choose from depending on the size of your peeps.

Homes For Sale in Mandarin Place

At times you may not see any homes for sale, because they go fast and not as many come out on the market. If you scroll down, you will see homes for sale in all of Jacksonville.

Homes For Sale in Jacksonville Florida

The school system is Duval County Public Schools. You can find out which schools you’re zoned for at My School Location. The schools currently zoned for Mandarin Place neighborhood are the following:

• Loretto Elementary-3900 Loretto Road Jacksonville FL 32223 904-260-5800
• Mandarin Middle School– 5100 Hood Rd Jacksonville Fl 32257 904-292-0555
• Mandarin High School- 4831 Greenland Rd Jacksonville FL 32258 904-260-3911

It’s worth jumping into pointing out how we are seeing the median sales price in the negative for the 2nd month in a row. Check out the chart below. I think this could be a trend for the few months, but still not going to call it a crash yet. Definitely a correction, and seeing the effects of high inflation and high mortgage rates. Still seeing a seller’s market even with prices coming down, but that’s due to the fact that the inventory at one point was so darn low!

Sellers, I know you’re wondering of this is a bad time to sell, but really it depends on YOUR goals. Click below if you would like to find out what your home could sell for in today’s market.

Buyers this could be great news for you, if you can overcome the higher rates. Click below to see what homes are going for in our current market.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 320,000 and the other half were less than 320,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.26 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.

Check out previous Clay County Market Reports to see the changes.

St Johns County Fl Real Estate Market Update January 2023

This real estate market report is for single family homes in St Augustine, Ponte Vedra, Nocatee, St Johns, Ponte Vedr Beach and Hastings.

We experienced a negative price change in January 2023 compared to January 2022. The chart also shows that we are seeing inventory levels rise at a level of shifting to a more balanced market. Still a seller’s market, but just by a hair.

Does this mean that buyers will have it much better now? Yes and no. Interest rates are still inching up, probably will continue to increase, so if you’re waiting to see if they drop, that might not be a great idea.

Sellers this doesn’t mean you’re not going to get a good price for your home, you still can, but not at the same fever as a year ago.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 445,990 and the other half were less than 445,990.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 4.84 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.

Clay County Fl Real Estate Market Report January 2023

This report covers single family homes in Orange Park, Fleming Island, Green Cove Springs and Middleburg.

Median sales price is still in a positive when we compare it to last year, but take a look at the Month’s Inventory level below on the chart. 6.25, which means that it would take 6 months and a quarter to sell the current inventory off, based on the sold homes. If you look under the chart I explain what that means in terms of determining what type of market we are experiencing. At 6 months, we are in a more balanced market, but leaning towards a buyer’s market. That will affect prices if that trend continues. Increased days on the market and list price to sales price are pointing to a shift.

Buyers this is good news for you. Or at least better news I should say. We are still seeing multiple offers in Clay County, just not as many or at the same rate as Jacksonville. The current mortgage interest rate as of today, February 21 2023 is 6.87 for conventional loans. FHA and VA are a little lower.

Sellers, so at the news of still multiple offers in the market, you must be competitive. With condition and with your price. I can help guide you to determine what’s best for you and your situation. Let’s start with seeing what your home is valued at in today’s market……..

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 332,942 and the other half were less than 332,942.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 6.25 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.

St Johns Fl Real Estate Market Report October 2022

This report includes single family homes in Ponte Vedra, Ponte Vedra Beach, St Johns, St Augustine, St Augustine Beach, Palm Valley, Vilano Beach, Nocatee Florida.

Real estate in St Johns County is a little different than Clay County and Duval County. Higher price points makes the stats not follow the same as their neighbor. The median sales price is still climbing at 18.7% over last year. Even with inventory levels rising, we are still seeing a seller’s market in St John’s County.

Each neighborhood is different, so home owner’s if you want to know what the values are at in your subdivision, check out the What’s my home worth button below.

Buyers if you’re curious on what homes are available in St John’s County, check out the link below:

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 516,000 and the other half were less than 516,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.03 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.