Jacksonville Florida Real Estate Update for November 2022

This report covers single family homes in Jacksonville for the month of November. As you see from the chart below, the median sales price change was only 1.8% more this year, compared to November 2021. The beginning of the year we were seeing increases around 20%! That’s a big change, but now the question will be……. will this trend continue to come down to where we see the median sales price in the negative over last year? I still say a correction, not a crash, but I will continue to study the numbers. Check right under the chart for the explanations of the stats.

Sellers, you may think you missed the boat, and yes, you did a little bit. 🙂 However!!! If you were worried about not finding a house once yours was sold, that is not a huge problem anymore. Check out the button below to request a market analysis on your home.

Buyers now it’s your turn. I know rates have went up, but there are more homes on the market to choose from. Looking at the chart below, we had 1,000 more November 2022, versus November 2021. Want to see what homes are going for in today’s market? Click on the button below.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 285,000 and the other half were less than 285,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 4.13 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.