Clay County Fl Real Estate Market Update February 2025

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

The months inventory has almost doubled, from 3.95 months last year in February to 5.87 months this year. Still, not a crashing market, just more homes on the market. Yes, we sold less homes this February as well. The median sales price in Clay County, was just a tad more this year. The market is continuing to soften.

OK, so this isn’t really Clay County only related, but it is real estate related. You may have heard that Governor DeSantis has proposed eliminating property tax in Florida. That’s what you pay on your home that goes to the county you live in. Say what? You didn’t hear about that? Check out this article that talks about it. It’s a quick read. Do you know how hard it was to find an article that wasn’t bias either way? It took me a bit.

Anyway, I have mixed feelings about this one. I absolutely hate paying property taxes and that I’ll never own my house outright. If you don’t pay it, someone else can take over your tax lien, charge you extra interest or eventually, you could be foreclosed on. I also hate that it is always changing. Yes, if you’re a homeowner that lives in your home, there is the 3% cap, but the first year that you own your home you get to enjoy the previous owners homestead, but once it is reassessed, it’s based on what you pay, and that can be a significant jump if the previous owner‘s taxes were way lower, because they owned it longer. Mine almost tripled.

Now, the other part of me understands that we need certain services and we need to pay for those services. I also realize that if property tax was to be completely eliminated, which sounds real good, where is that money gonna come from? More than likely it’s gonna be a higher sales tax, which also sounds great in theory, but then that can also hurt individuals whose income is lower. So while I believe in small government, and not have to pay property taxes. I do see the value. I just wish that maybe it could be something that is a flat fee that never goes up.

Here’s another article that talks about Governor DeSantis, softening his stance some.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 352,900 and the other half were less than 352,900.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 5.87 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.