Jacksonville Florida Real Estate Market January 2024
This report is always on single family homes in Jacksonville Florida. I don’t mix in condos, since it the stats are not the same.
January is showing a positive median sales price in Jacksonville compared to last year. Less houses on the market and more homes sold. Which shows a seller’s market, even with higher interest rates. The average days on the market is at 2 months, so they are not selling as fast as they were, say two years ago, but about the same as last year in January.
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Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 313,995 and the other half were less than 313,995.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 4.10 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.
