St Johns County Real Estate Market November 2022
Includes single family homes in Ponte Vedra, Ponte Vedra Beach, St Johns, St Augustine, St Augustine Beach, Palm Valley, Vilano Beach, Nocatee Florida
Check out the chart below to see that we are still in a seller’s market. Maybe not as crazy as we were just this past summer, but we are still seeing homes selling. Prices are still up over last year. We need to watch inflation numbers, so we can see how they affect mortgage rates for the coming year.
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Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 465,000 and the other half were less than 465,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.74 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.
