Jacksonville Fl Real Estate Market December 2023

Single family homes in Jacksonville Florida.

I know many people are wanting to see prices come down, but the median sales price in Jacksonville is up by a little over 4%. Many stories are saying that the amount of homes sold last month is down by 6% in the country, but that’s pretty normal for December. Reading the comments by people you would be thinking the end is near and interest rates are 8%. As of January 21 2024, interest rates are under 7% for conventional loans and FHA/VA are hovering at 6.15%. I always write these reports a little later the following month to give agents time to update the MLS. We are not always the best at paperwork. 🙂

There was a little over 800 homes less for sale in Jacksonville compared to 2022. That’s a pretty significant chunk and is why we are still not seeing prices dropping. At the current inventory level we could sell all those homes in less than 4 months. Still, a brisk market. Remember, real estate is super local.

Would you like to know what you could sell your home in today’s market:

Wondering what homes are selling for in today’s market?

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 329,900 and the other half were less than 329,900.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.42 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.