Jacksonville Fl Real Estate Market Report February 2023

This report covers single family homes in Jacksonville Florida.

Scroll down to check out the chart for all the numbers, but to sum it up here we saw the inventory levels drop just a bit from January 2023. The median sales price is up over last year by 3.4%. 301 less homes sold in Jacksonville this year in February when compared to last year. That’s 301 less buyers in the market. Overall, the real estate market in Jacksonville is seeing closer to a more balanced market. Things can change depending on how interest rates are doing, along with inflation. Don’t expect interest rates to come down.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 290,000 and the other half were less than 290,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.36 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.