Clay County Fl Real Estate Market Report February 2021

Clay County Fl Real Estate Market Report February 2021

Includes single family homes in Orange Park, Fleming Island, Green Cove Springs and Middleburg Florida

I thought the inventory level was going up, just a tiny hair, when I was doing a search last month, but nope. That was not the case. It dropped by 74 homes. Last year there was 442 more homes on the market, compared to February 2021. $30k difference in median sales price over last year as well. I know many wonder if there’s a crash in our future. I won’t claim to know what the future holds, so this is me thinking out loud. If we get a wave of distressed sellers, needing to sell, they “should” have enough equity to sell. Even, if that doubled our inventory, we would still be in a seller’s market. If buyers started dropping out of the market, it would have to be an extreme drop at once. It is obvious that these rising prices are not sustainable, but lower rates help to make the payment more affordable. When that is no longer the case, we can see the demand start to slow. The questions are when and how much?

You might be wondering how these stats apply to your home, each neighborhood is different, so if you’re thinking of selling and want to know more click:

If you’re a buyer and want to see what homes are available in Clay County, click the following link: Want to Search for Homes in Clay County Florida Florida?

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 250,000 and the other half were less than 250,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 1.54 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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