Clay County Real Estate Market Report February 2023

Single family homes in Orange Park, Fleming Island, Green Cove Springs and Middleburg

We see a negative median sale price in Clay County for February 2023, which means the median sales price was higher in February 2022. Days on the market have more than doubled and the original list price to sales price dropped a bunch. I don’t think that will continue to be the trend, we will probably see it pop back up into the 90s for March. Inventory levels are up, while sales are down. It will be interesting to see what March brings us.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 315,500 and the other half were less than 315,500.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 4.40 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.