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.
What’s My Home Worth?
Thinking of selling your home? Click below to complete a form, then receive a market analysis within 24 hours.
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.
Search For Homes in Clay County Florida
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.
