Jacksonville Florida Real Estate Report Aug 2023

The latest report is for single family homes in Jacksonville Florida for the month of August. Let’s jump in and see what has been happening.

A few points to look at….One the median sales price in Jacksonville is almost neck and neck looking at August 2023 and August 2022. Just a little over 2k difference with August 2022 being a tad higher. Little over 500 homes LESS for this August, which even with less homes sold, we are still seeing lower month’s inventory this August. Yes, we are still in a seller’s market. Scroll down to see the chart for August 2023.

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Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 330,000 and the other half were less than 330,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.50 months to sell the active homes, if no other homes came on the market. How to determine what type of market we are experiencing:

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.