Jacksonville Fl Real Estate Market Update January 2023
You may remember that in the December 2022 report, the median sales price in Jacksonville was a negative 1%. In January it came back up, and we saw an increase of 3.9% over last January. If you scroll below to look at the chart, you’ll see the days on the market of almost doubled from last year.
Buyers I know you’ve had a rough going the past couple years. Crazy terms and having to offer thousands of dollars over list price just to get your offer noticed. Now, that part is not like it was, but rates are higher. Mortgage rates are sitting around 6.67% as of February 14 2023. The good news, is you have more hoes to choose from. If you click on the blue button, you can see the homes for sale in Jacksonville.
Search for Homes in Jacksonville
Sellers, you may wonder if you have missed the boat and it’s a horrible time to sell. It depends on a few factors. Condition of your home needs to be great. Check out your competition, and aim to be better. Pricing is no longer just about sold homes from the past few months. Now you need to look at what’s on the market, what’s went under contract. If you try to price your home the same as you would have last year, you are going to miss the boat! If you’re thinking about selling and want to know what you could sell for in today’s market, click the red button below.
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Thinking of selling your home? Click below to complete a form, then receive a market analysis within 24 hours.
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.
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 334,990 and the other half were less than 334,990.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.50 months to sell the active homes, if no other homes came on the market. How to determine what type of market we are experiencing:
