Jacksonville Fl Real Estate Market Report February 2023

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Jacksonville Florida real estate market report for February 2023

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 290,000 and the other half were less than 290,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.36 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.

Jacksonville Fl Real Estate Market Update January 2023

February 15, 2023 by Pam Leave a Comment

Jacksonville Fl Real Estate Market Update January 2023

You may remember that in the December 2022 report, the median sales price in Jacksonville was a negative 1%. In January it came back up, and we saw an increase of 3.9% over last January. If you scroll below to look at the chart, you’ll see the days on the market of almost doubled from last year.

Buyers I know you’ve had a rough going the past couple years. Crazy terms and having to offer thousands of dollars over list price just to get your offer noticed. Now, that part is not like it was, but rates are higher. Mortgage rates are sitting around 6.67% as of February 14 2023. The good news, is you have more hoes to choose from. If you click on the blue button, you can see the homes for sale in Jacksonville.

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Sellers, you may wonder if you have missed the boat and it’s a horrible time to sell. It depends on a few factors. Condition of your home needs to be great. Check out your competition, and aim to be better. Pricing is no longer just about sold homes from the past few months. Now you need to look at what’s on the market, what’s went under contract. If you try to price your home the same as you would have last year, you are going to miss the boat! If you’re thinking about selling and want to know what you could sell for in today’s market, click the red button below.

What’s My Home Worth?

Thinking of selling your home? Click below to complete a form, then receive a market analysis within 24 hours.

Jacksonville Florida real estate market report for January 2023

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.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 334,990 and the other half were less than 334,990.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.50 months to sell the active homes, if no other homes came on the market. How to determine what type of market we are experiencing:

Jacksonville FL Real Estate Market December 2022

January 15, 2023 by Pam 1 Comment

Jacksonville FL Real Estate Market December 2022

Hold up!!! Look at the chart, or just read here. Last month in Jax, we saw a negative median sales price of about 4k! 1.4% negative. I know what you’re thinking……the crash is here! January will be worse!!!! I did take a look at the median sale price in January a few days ago to see how things were shaping up. Buyers, or potential buyers, I hate to bust your bubble, but so far we are up about 7.5% over last year. We still have a couple weeks to go, so that will change.

Let’s talk about the month’s Inventory level. Good ole’ supply and demand. The 3.39 number represents how many months it would take to sell the 2,858 homes at a rate of 842 homes sold. That’s still a seller’s market. Not as crazy as December 2021 market, but still a seller’s market. Days on the market are higher and the list price to sales price is showing that sellers are not getting full price or close to full price as they were.

What does this mean for buyers? More homes to choose from! Better contract terms. Not having to pay over list price for the majority of homes.

Search for Homes in Jacksonville

What does this mean for sellers? It’s still a great market to sell in. You will have to make sure you price your house correctly and make your house look good inside, and out. You can sell, and the fear of not having a house to buy is way less than what it was last year at this time.

What’s My Home Worth?

Thinking of selling your home? Click below to complete a form, then receive a market analysis within 24 hours.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 284,995 and the other half were less than 288,990.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.39 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.

Jacksonville Florida Real Estate Update for November 2022

December 15, 2022 by Pam Leave a Comment

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.

What’s My Home Worth?

Thinking of selling your home? Click below to complete a form, then receive a market analysis within 24 hours.

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.

Search for Homes in Jacksonville

What is My Jacksonville Home Worth? Click To Find Out!

The stats showing the real estate market in Jacksonville Florida for November 2022.

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.

Jacksonville Fl Real Estate Market Report July 2022

August 7, 2022 by Pam Leave a Comment

Jacksonville Fl Real Estate Market Report July 2022

Still no crash. There, no playing games with your emotions. 🙂 There are changes tho. There’s 500 more homes on the market in July, compared to June. There’s less homes that sold, almost 300 less, which makes the months inventory levels around 2.59 months. So, we are almost at 3 months worth of inventory, which is STILL a seller’s market. Prices are still rising, but not at the crazy amount we’ve been seeing the past 12 months or so. June saw the median sales price in Jacksonville come down by about 5k. July dropped as well, but median prices are still higher in 2022, compared to 2021. I think based on the current trend, we will see that change and the numbers start to be similar. What does this mean to buyers? We are still in a seller’s market, but you have more homes to choose from. You may even be able to ask for some repairs, ask for closing cost, not have to waive the appraisal contingency or not have to help the seller move. I’m just kidding about that last part. I don’t think that’s happened. Can you throw a low ball offer out? Of course you can, doesn’t mean you’ll get it in a seller’s market. Sellers, what this means for you is, you can’t just have your home in any condition. Buyers have more choices. It’s still a great time to sell. Will you be able to just throw any price against the wall, and it will stick? Nope. There can still be multiple offers, but your house needs to be nice, and not priced way higher than other homes. Marketing time will take just a little longer, but not crazy long. The days on the market in the chart below, are not changing radically. Overall, the market is changing, but it’s a correction, not a bubble. Can that change? Yes, it can, but right now, we are not seeing that. You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:

If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?

Jacksonville Fl Real Estate Market Report July 2022

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 306,801 and the other half were less than 306,801.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 2.59 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.

What is My Jacksonville Home Worth? Click To Find Out!

Homes For Sale in Jacksonville

Homes For Sale in Orange Park

Homes For Sale in Fleming Island

Homes For Sale in Green Cove Springs

Homes For Sale in Middleburg

Homes For Sale in St Johns County

Jacksonville Fl Real Estate Market Report June 2022

July 13, 2022 by Pam 1 Comment

Jacksonville Fl Real Estate Market Report June 2022

Take a vacation, wear shades outdoors and call me to buy or sell a home

The change is coming……….inventory levels have risen, which means more homes on the market. Compared to last month, there are less sold homes in Jacksonville, along with about 300 more homes to choose from. Remember these numbers reflect the past 30-45 days, but I will tell you that there are a little over 5k homes for sale in our MLS. That covers Northeast Florida. It wasn’t but a few months ago, that number was under 3k. The median sales price for this month is about 4k less than May 2022, but that happens sometimes, that we see an up and down flow. The next few months will be ones to watch. So what does this mean? For buyers, this means that you may find homes that have a slightly longer days on the market or a little less competition. What it doesn’t mean is it’s time to get your low ball card out, and start throwing out low ball offers and hope they stick. Remember folks, a seller’s market is when we see under 5 months worth of inventory levels. We are under 2. That’s still a strong seller’s market. For sellers, this means throwing up a price that goes well above the current sold comps is no longer going to bring buyers to your house in droves. You’re gonna have to make sure your house is in good repair, looks nice. Doesn’t mean there’s a crash coming, still a great time to sell. You haven’t missed the boat. Maybe missed the yacht, but not the boat. You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:

If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?

Jacksonville Fl Real Estate Market Report June 2022

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 317,500 and the other half were less than 317,500. Month’s Inventory: Based on the number of actives and homes that have sold it would take 1.60 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. What’s my Jacksonville Florida Home Worth?

What is My Jacksonville Home Worth? Click To Find Out!

Homes For Sale in Jacksonville

Homes For Sale in Orange Park

Homes For Sale in Fleming Island

Homes For Sale in Green Cove Springs

Homes For Sale in Middleburg

Homes For Sale in St Johns County

Jacksonville Fl Real Estate Market Report March 2022

April 15, 2022 by Pam Leave a Comment

Jacksonville Fl Real Estate Market Report March 2022

I’ll cut to the chase…..no crash yet folks. In March the inventory levels went down, compared to February AND home sales increased by about 300 homes. Ingredients of a hot seller’s market.

You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:

If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?

Jacksonville Fl Real Estate Market Report March 2022

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 293,000 and the other half were less than 293,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take .97 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.

What is My Jacksonville Home Worth? Click To Find Out!

Homes For Sale in Jacksonville

Homes For Sale in Orange Park

Homes For Sale in Fleming Island

Homes For Sale in Green Cove Springs

Homes For Sale in Middleburg

Homes For Sale in St Johns County

Jacksonville Fl Real Estate Market Report February 2022

March 15, 2022 by Pam Leave a Comment

Jacksonville Fl Real Estate Market Report February 2022

I told you last month that a local news station was talking about a cool down in the real estate market for Jacksonville. I also mentioned they were wrong. One month of a small change is not enough to start crying cool down. You know as well as I do, that they just want to sell ads, so it’s click bait. For February, the inventory levels went back down, which means less homes on the market. Again. The median sales price in Jacksonville went up too. 280k, That’s about a 50k increase over last year. Let’s see how March looks in a few weeks.

You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:

If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?

Jacksonville Fl Real Estate Market Report February 2022

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 280,000 and the other half were less than 280,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 1.32 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.

What is My Jacksonville Home Worth? Click To Find Out!

Homes For Sale in Jacksonville

Homes For Sale in Orange Park

Homes For Sale in Fleming Island

Homes For Sale in Green Cove Springs

Homes For Sale in Middleburg

Homes For Sale in St Johns County

Jacksonville Fl Real Estate Market Report January 2022

February 18, 2022 by Pam 1 Comment

Jacksonville Fl Real Estate Market Report January 2022

A local news station has mentioned the start of a cool down for the real estate market in Northeast Florida, due to the stats shared by our real estate board, known as NEFAR. Just to point out, this is usually for the whole area of NE Florida, grouping in condos and single family homes together. My reports are for single family homes, and I break them down by Jacksonville, Clay and St Johns County. December’s median sales price was $288,990 and did drop to $269,950 in January 2022. There actually hasn’t been very impressive leaps compared to Clay and St John’s Counties in the median sale price dept, but let’s look at the big picture…..we are in such a low inventory, hot seller’s, market, that even a little cool down doesn’t mean a crash is coming. We need to watch inventory levels the next 6 months or so, interest rates and inflation. There has to be a trigger to get home owners to sell. Remember many are still nervous to list, not know they can find a new house when they sell.

The amount of Lis Pendens (fancy name for starting the foreclosure process), filed is low compared to 2019, 2007, and 2006. Using the month of October, for no particular reason, we saw 117 filed in 2021, 259 filed in 2019, 469 filed in 2006 and in 2007, 825 filed. I left 2020 out for the obvious reasons.

Come back each month for updates. I usually wait until mid to end of the month to do the month before, to give some procrastinating agents time to get the sales numbers inputted into the MLS.

You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:

If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?

Jacksonville Fl Real Estate Market Report January 2022

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 269,950 and the other half were less than 269,950.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 1.60 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.

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What is My Jacksonville Home Worth? Click To Find Out!

Homes For Sale in Jacksonville

Homes For Sale in Orange Park

Homes For Sale in Fleming Island

Homes For Sale in Green Cove Springs

Homes For Sale in Middleburg

Homes For Sale in St Johns County

Jacksonville Fl Real Estate Market Report November 2021

December 15, 2021 by Pam Leave a Comment

Jacksonville Fl Real Estate Market Report November 2021

Downtown Jacksonville on a beautiful day

Inventory levels went down, and so did the number of hoes sold in Jacksonville for November, compared to October. Makes sense, since this is the time that we don’t see as many buyers buying, or sellers selling. After the holidays are over, then we should see more inventory and homes sold.

You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you’re thinking of selling and want to know more click:

If you’re a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?

Jacksonville Fl Real Estate Market Report November 2021

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 280,000 and the other half were less than 280,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 1.39 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.