St Johns County Fl Real Estate Update November 2024
Includes single family homes in St Johns, St Augustine, Nocatee, Ponta Vedra, Fruit Cove, Orangedale, Switzerland and Julington Creek.
Looking at the numbers in November for this year and in 2023 I notice the median prices dropped down to the lower 500s. We are almost in the 5s for the months inventory. Now if we could get those rates down just a hair, without causing a buying frenzy.
Mortgage Daily News is my go to site for all things related to mortgage rates. They give great commentary to help you understand what is going on.
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Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 525,000 and the other half were less than 525,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 4.93 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.
