Jacksonville Fl Real Estate Market November 2023
I bet you couldn’t wait to come here and see if the market is crashing finally. I can’t tell you it is. The median sales price for Jacksonville Florida in November is up compared to last year. We have less homes on the market, which isn’t unusual for this time of year. Holidays are the culprit, for the most part. I’m writing this mid December to give the agents time to get the listings updated in the MLS, so when I talk about interest rates it’s about them as of December 20th. A 30 year fixed is at 6.64%, while FHA is at 6.11%. Buyers are watching these rates and we will see a huge demand as they come down more. Between the rates coming down and the housing market in Jacksonville not coming down, you may not want to wait to buy a house. Of course, it all depends on your situation.
Search for Homes in Jacksonville
What’s My Home Worth?
Thinking of selling your home? Click below to complete a form, then receive a market analysis within 24 hours.
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 326,650 and the other half were less than 326,650.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.69 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.
