Jacksonville Fl Real Estate Market Report June 2022
The change is coming……….inventory levels have risen, which means more homes on the market. Compared to last month, there are less sold homes in Jacksonville, along with about 300 more homes to choose from. Remember these numbers reflect the past 30-45 days, but I will tell you that there are a little over 5k homes for sale in our MLS. That covers Northeast Florida. It wasn’t but a few months ago, that number was under 3k. The median sales price for this month is about 4k less than May 2022, but that happens sometimes, that we see an up and down flow. The next few months will be ones to watch.
So what does this mean?
For buyers, this means that you may find homes that have a slightly longer days on the market or a little less competition. What it doesn’t mean is it’s time to get your low ball card out, and start throwing out low ball offers and hope they stick. Remember folks, a seller’s market is when we see under 5 months worth of inventory levels. We are under 2. That’s still a strong seller’s market.
For sellers, this means throwing up a price that goes well above the current sold comps is no longer going to bring buyers to your house in droves. You’re gonna have to make sure your house is in good repair, looks nice. Doesn’t mean there’s a crash coming, still a great time to sell. You haven’t missed the boat. Maybe missed the yacht, but not the boat.
You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 317,500 and the other half were less than 317,500.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 1.60 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.
What’s my Jacksonville Florida Home Worth?
The change is coming……….inventory levels have risen, which means more homes on the market. Compared to last month, there are less sold homes in Jacksonville, along with about 300 more homes to choose from. Remember these numbers reflect the past 30-45 days, but I will tell you that there are a little over 5k homes for sale in our MLS. That covers Northeast Florida. It wasn’t but a few months ago, that number was under 3k. The median sales price for this month is about 4k less than May 2022, but that happens sometimes, that we see an up and down flow. The next few months will be ones to watch.
So what does this mean?
For buyers, this means that you may find homes that have a slightly longer days on the market or a little less competition. What it doesn’t mean is it’s time to get your low ball card out, and start throwing out low ball offers and hope they stick. Remember folks, a seller’s market is when we see under 5 months worth of inventory levels. We are under 2. That’s still a strong seller’s market.
For sellers, this means throwing up a price that goes well above the current sold comps is no longer going to bring buyers to your house in droves. You’re gonna have to make sure your house is in good repair, looks nice. Doesn’t mean there’s a crash coming, still a great time to sell. You haven’t missed the boat. Maybe missed the yacht, but not the boat.
You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:
If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?
2 thoughts on “Jacksonville Fl Real Estate Market Report June 2022”