St Johns County Fl Real Estate Update October 2024
Includes single family homes in St Johns, St Augustine, Nocatee, Ponta Vedra, Fruit Cove, Orangedale, Switzerland and Julington Creek.
The median sales price is up by 15k for October 2024 compared to last year in October. Inventory level shows us a s a more balanced market. A normal market for the most part. Houses are taking longer to go under contract as we see the days on the market rise to 88 days.
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Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 555,000 and the other half were less than 555,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 4.81 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.
