Jacksonville Fl Real Estate Market May 2024

This report covers single family homes in the Jacksonville Fl Real Estate Market for the month of May 2024.

The month’s inventory is up when you compare it to May in 2023. That means there are more homes available on the market now. More choices for buyers, more competition for sellers. Median sales price in Jacksonville was up over last year, so between the inventory levels and median prices, we are still showing a seller’s market. I know that can be discouraging to buyers, while bringing joy to sellers. Check out the chart below for more market stats.

To see what the current interest rates are, check out Mortgage Daily News for up to date mortgage rates.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 338,000 and the other half were less than 338,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.87 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.