How's the real estate market?

How’s the real estate market in Jacksonville, Florida?

 

markettrends                                                                                                             I get this question a lot! It’s the usually the first thing I’m asked when I meet someone new, in fact. My answer? “Still strong!” I think most Realtors would agree that there used to be a major slow down in business after Halloween every year. People are gearing up for the holidays and often put their plans to move on hold until the next year.

Except I didn’t see any noticeable slow down last year and it looks like we may not again. The Northeast Florida Association of Realtors just released their statistics for our market here and that confirms that we are all still very busy!

Here’s a snapshot of our real estate transactions here in Northeast Florida for September of 2016:

~2,261 closed sales; 2,272 pending sales.
~ Average days on market until sale: 74.
~ Median sales price: $190,000 (8.6 percent more than a year ago but little change from $190,750 in August).
~ Average sales price: $232,722.
~ 2,813 new listings added, but 9,077 final inventory tally is 15.7 less than a year ago.
~ Only 3.9 months’ of supply on hand; 18.8 less than a year ago.
~ Inventory shortage influencing the market: spurring competition and driving up prices for available homes.
~ 13.1 percent of homes sold for more than original list price.

 

Covering Yulee, Fernandina, Jacksonville, St. Augustine, and parts of Putnam Counties.