Northeast Florida Market Update - June 2024

A new month of stats to help you navigate our local housing market.  The market is slower at this moment compared to this time last year.  Pending sales show us that fewer homes are going under contract.  It is more important than ever to not only price your home to sell but also make your home stand out above the rest.   Homes that have been updated and are move-in ready go for more and sell quicker!  The market (buyers) are the ones who decide what your home is ultimately worth due to what they are willing to pay.  That is why we do an in-depth analysis for pricing your home correctly in this market.  Of course to know what your home is worth, we will conduct an in-depth search for comparable homes in your surrounding neighborhood.   If you have a change in circumstances and need our help, don’t let the negative headlines affect you.  Reach out to us and we can show you what your home is worth and help you to buy a new one.

👉Closed sales increased by 0.2% compared to this time last year, while it decreased by 1.7% since the end of 2023.
👉Pending sales decreased by 29.8% compared to this time last year and decreased by 6.6% since the end of 2023.
👉New listings increased by 40.5% compared to this time last year and increased by 26.4% since the end of 2023.
👉Active Inventory increased by 96.9% compared to this time last year and increased by 11.8% since June 2024.

ALL STATS BELOW ARE FOR SINGLE FAMILY HOMES INCLUDING THE SURROUNDING COUNTIES OF DUVAL, ST. JOHNS, CLAY, AND NASSAU.

For the month of July 2024, the median sales price for Northeast Florida was $401,675.  The median sales price for July 2023 was $399,900, increasing 0.4% compared to this time last year and increasing 4.5% since the end of 2023.  Median Sales Price is the preferred summary for price activity.  Unlike average sale price, median sales price is not sensitive to high sales price for small numbers of homes that may not be characteristic of the market area.  Keep in mind, the Median Sales Price only reflects the values of homes that sold each month.  This number reflects 50% of sales that were above and 50% of sales that were below.  The highest median sales price in surrounding counties was St. Johns County at $591,000. The median sales price for July 2023 was $585,000, increasing 1.0% compared to this time last year and increasing 1.1% since the end of 2023.  Nassau County had the second highest with $436,700.  The median sales price for July 2023 was $409,450, increasing 6.7% compared to this time last year and increasing 12.7% since the end of 2023.  Clay County had the third highest with $369,000.  The median sales price for July 2023 was $360,000, increasing 2.5% compared to this time last year and increasing 1.3% since the end of 2023.  Duval County was the lowest of the four with $345,500.  The median sales price for July 2023 was $330,000, increasing 4.7% compared to this time last year and increasing 5.2% since the end of 2023.

PRICE PER SQ FT
The median price per square foot for July 2024 was $216. The median price per square foot for July 2023 was $212, increasing 1.9% compared to this time last year and increasing 3.4% since the end of 2023..

DAYS ON MARKET UNTIL SALE
The median number of days on market for July 2024 was 42 days.  Days on market for July 2023 was 35, increasing 20.0% compared to this time last year while decreasing 12.8% since the end of 2023.  This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF ORIGINAL SALES PRICE RECEIVED
The percent of original list price received for July 2024 was 97.5%.  The percentage of original list price received for July 2023 was 98.0%, decreasing 0.6% compared to this time last year while no change was made since the end of 2023.  The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them, and they need to match the selling price (or better it) in order to get a contract.  This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

PERCENT OF PROPERTIES SOLD OVER LIST PRICE
The percentage of properties sold over list price for July 2024 was 12.3%.  The percent of homes closed over list price for July 2023 was 15.3%, decreasing 19.3% compared to this time last year while increasing 8.1% since the end of 2023.  The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  

MONTHS SUPPLY OF HOMES
The month's supply of inventory for July 2024 was 4.2 months. The monthly supply of inventory for July 2023 was 2.1 months, increasing 96.6% compared to this time last year and increasing 17.6% from the previous month.  The month's supply of inventory is an estimate of the number of months it will take to deplete the current inventory of given recent sales rates.   If all the homes were sold by the current pool of buyers without new homes being listed, meaning we would run out of inventory in 4.2 months.  Anything under 5.5 months usually indicates that we are in a Seller's Market, however with the high interest rates we are in an unusual market and the buyer’s tend to be controlling the market for the most part.

 Source: Northeast Florida Association of REALTORS®. 

Northeast Florida Market Update - June 2024

A new month of stats to help you navigate our local housing market.  Closed sales and pending sales have steadily decreased compared to 2023.  This tells us that there are less buyers in the market buying homes while new listings have increased.  Is there still a buyer for your home?  Of course there is, but getting the home priced correctly from the start helps get your home under contract faster.  Homes that have been updated and are move-in ready go for more and sell quicker!   The market (buyers) are the ones who decide what your home is ultimately worth due to what they are willing to pay.  That is why we do an in-depth analysis for pricing your home correctly in this market.  Of course to know what your home is worth, we will conduct an in-depth search for comparable homes in your surrounding neighborhood.   If you have a change in circumstances and need our help, don’t let the negative headlines affect you.  Reach out to us and we can show you what your home is worth and help you to buy a new one.

👉Closed sales decreased by 14.0% compared to this time last year and decreased  by 2.7% since the end of  2023.
👉Pending sales decreased by 32.8% compared to this time last year and decreased by 7.7% since the end of 2023.
👉New listings increased by 24.7% compared to this time last year and increased by 27.0% since the end of 2023.
 

ALL STATS BELOW ARE FOR SINGLE FAMILY HOMES INCLUDING THE SURROUNDING COUNTIES OF DUVAL, ST. JOHNS, CLAY, AND NASSAU.

For the month of June 2024, the median sales price for Northeast Florida was $405,495.  The median sales price for June 2023 was $395,000, increasing 2.7% compared to this time last year and increasing 4.2% since the end of 2023. Median Sales Price is the preferred summary for price activity. Unlike average sale price, median sales price is not sensitive to high sales price for small numbers of homes that may not be characteristic of the market area.  Keep in mind, the Median Sales Price only reflects the values of homes that sold each month.  This number reflects 50% of sales that were above and 50% of sales.   The highest median sales price in surrounding counties was St. Johns County which was $579,900. The median sales price for June 2023 was $551,000, increasing 5.2% compared to this time last year while no change was made since the end of 2023 at this time.  Nassau County had the second highest with $475,000.  The median sales price for June 2023 was $401,495, increasing 18.3% compared to this time last year and increasing 14.3% since the end of 2023.  Clay County had the third highest with $360,000.  The median sales price for June 2023 was $364,500, decreasing 1.2% compared to this time last year while increasing 0.6% since the end of 2023.   Duval County was the lowest of the four with $340,900.  The median sales price for June 2023 was $334,990, increasing 1.8% compared to this time last year and increasing 5.9% since this time last year.

PRICE PER SQ FT
The median price per square foot for June 2024 was $217. The median price per square foot for June 2023 was $208, increasing 4.3% compared to this time last year and increasing 4.4% since the end of 2023.

DAYS ON MARKET UNTIL SALE
The median number of days on market for June 2024 was 40 days.  Days on market for June 2023 was 34, increasing 17.6% compared to this time last year while decreasing 17.5% since the end of last year. This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF ORIGINAL SALES PRICE RECEIVED
The median number of days on market for June 2024 was 40 days.  Days on market for June 2023 was 34, increasing 17.6% compared to this time last year while decreasing 17.5% since the end of last year. This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF PROPERTIES SOLD OVER LIST PRICE
The percent of original list price received for June 2024 was 97.9%.  The percent of original list price received for June 2023 was 98.1%, decreasing 0.2% compared to this time last year while increasing 0.1% since the end of 2023. The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract.  This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

MONTHS SUPPLY OF HOMES
The month's supply of inventory for June 2024 was 4.0 months. The month supply of inventory for June 2023 was 1.8 months, increasing 119.2% compared to this time last year. The month's supply of inventory is an estimate of the number of months it will take to deplete the current inventory of given recent sales rates.   If all the homes were sold by the current pool of buyers without new homes being listed, meaning we would run out of inventory in 4.0 months.  Anything under 5.5 months usually indicates that we are in a Seller's Market, however, ask us for further analysis.

 Source: Northeast Florida Association of REALTORS®. 

Northeast Florida Market Update - May 2024

A new month of stats to help you navigate our local housing market.  A notable trend since March 2024, closed sales and pending sales have steadily decreased compared to 2023.  This tells us that there are less buyers in the market buying homes while new listings have increased.  Is there still a buyer for your home?  Of course there is, but getting the home priced correctly from the start helps get your home under contract faster.  Homes that have been updated and are move-in ready go for more and sell quicker!  The market (buyers) are the ones who decide what your home is ultimately worth due to what they are willing to pay.  That is why we do an in-depth analysis for pricing your home correctly in this market.  Of course to know what your home is worth, we will conduct an in-depth search for comparable homes in your surrounding neighborhood.   If you have a change in circumstances and need our help, don’t let the negative headlines affect you.  Reach out to us and we can show you what your home is worth and help you to buy a new one.

👉Closed sales decreased by 2.9% compared to this time last year and decreased  by 0.7% since the end of  2023.
👉Pending sales decreased by 28.3% compared to this time last year and decreased by 8.6% since the end of 2023.
👉New listings increased by 48.1% compared to this time last year and increased by 31.8% since the end of 2023.

ALL STATS BELOW ARE FOR SINGLE FAMILY HOMES INCLUDING THE SURROUNDING COUNTIES OF DUVAL, ST. JOHNS, CLAY, AND NASSAU.

For the month of May 2024, the median sales price for Northeast Florida was $405,000.  The median sales price for May 2023 was $390,000, increasing 3.8% compared to this time last year and increasing 5.1% since the end of 2023. Median Sales Price is the preferred summary for price activity. Unlike average sale price, median sales price is not sensitive to high sales price for small numbers of homes that may not be characteristic of the market area.  Keep in mind, the Median Sales Price only reflects the values of homes that sold each month.  This number reflects 50% of sales that were above and 50% of sales.  The highest median sales price in surrounding counties was St. Johns County which was $564,158. The median sales price for May 2023 was $560,731, increasing 0.8% compared to this time last year while decreasing 0.7% since the end of 2023.  Nassau County had the second highest with $419,495.  The median sales price for May 2023 was $415,000, increasing 1.1% compared to this time last year and increasing 13.4% since the end of 2023.  Clay County had the third highest with $365,000.  The median sales price for May 2023 was $360,000, increasing 0.6% compared to this time last year and increasing 1.4% since the end of 2023.  Duval County was the lowest of the four with $345,500.  The median sales price for May 2023 was $330,000, increasing 4.7% compared to this time last year and increasing 6.9% since this time last year.

PRICE PER SQ FT
The median price per square foot for May 2024 was $214. The median price per square foot for May 2023 was $211, increasing 1.4% compared to this time last year and increasing 4.0% since the end of 2023.

DAYS ON MARKET UNTIL SALE
The median number of days on market for May 2024 was 35 days.  Days on market for May 2023 was 33, increasing 4.5% compared to this time last year while decreasing 21.4% since the end of last year. This is the number of days between the listing date and closing date for all Closed Sales during the month.s 42, decreasing 19.0% compared to this time last year while increasing 6.3% from last month.   This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF ORIGINAL SALES PRICE RECEIVED
The percent of original list price received for May 2024 was 97.9%.  The percent of original list price received for May 2023 was 97.6%, increasing 0.2% compared to this time last year and increasing 0.3% since the end of 2023. The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract.  This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

PERCENT OF PROPERTIES SOLD OVER LIST PRICE
The percent of properties sold over list price for May 2024 was 14.3%.  The percent of homes closed over list price for May 2023 was 16.0%, decreasing 11.0% compared to this time last year and decreasing 1.1% since the end of 2023. The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  

MONTHS SUPPLY OF HOMEShe month's supply of inventory for May 2024 was 3.6 months. The month supply of inventory for May 2023 was 1.8 months, increasing 103.1% compared to this time last year. The month's supply of inventory is an estimate of the number of months it will take to deplete the current inventory of given recent sales rates.   If all the homes were sold by the current pool of buyers without new homes being listed, meaning we would run out of inventory in 3.6 months.  Anything under 5.5 months usually indicates that we are in a Seller's Market, however, ask us for further analysis.

 Source: Northeast Florida Association of REALTORS®. 

Northeast Florida Market Update - April 2024

A new month of stats to help you navigate our local housing market.  While Closed sales decreased, Pending Sales increased compared to this time last year.  Both New Listings and Active Inventory increased.

ALL STATS BELOW ARE FOR SINGLE FAMILY HOMES INCLUDING THE SURROUNDING COUNTIES OF DUVAL, ST. JOHNS, CLAY, AND NASSAU.

For the month of March 2024, the median sales price for Northeast Florida was $391,400.  The median sales price for March 2023 was $370,000, increasing 5.8% compared to this time last year and increasing 0.4% from last month.   Median Sales Price is the preferred summary for price activity.  Unlike average sale price, median sales price is not sensitive to high sales price for small numbers of homes that may not be characteristic of the market area.  Keep in mind, the Median Sales Price only reflects the values of homes that sold each month.  This number reflects 50% of sales that were above and 50% of sales.  The highest median sales price in surrounding counties was St. Johns County which was $546,259. The median sales price for March 2023 was $560,000, decreasing 2.5% compared to this time last year while increasing 10.4% from last month. Nassau County had the second highest with $445,490.  The median sales price for March 2023 was $403,064, increasing 10.5% compared to this time last year while decreasing 1.0% from last month.  Clay County had the third highest with $348,000.  The median sales price for March 2023 was $343,000, increasing 1.5% compared to this time last year and increasing 0.1% from last month.    Duval County was the lowest of the four with $345,950.  The median sales price for March 2023 was $315,000, increasing 9.8% compared to this time last year while decreasing 0.9% from last month.

PRICE PER SQ FT
The median price per square foot for March 2024 was $210. The median price per square foot for March 2023 was $199, increasing 5.5% compared to this time last year and increasing 1.4% from last month. 

DAYS ON MARKET UNTIL SALE
The median number of days on market for March  2024 was 34 days.  Days on market for March 2023 was 42, decreasing 19.0% compared to this time last year while increasing 6.3% from last month.   This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF ORIGINAL SALES PRICE RECEIVED
The percent of original list price received for March  2024 was 97.7%.  The percent of original list price received for March 2023 was 97.1%, increasing 0.6% compared to this time last year and increasing 0.6% from last month.  The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract.  This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

PERCENT OF PROPERTIES SOLD OVER LIST PRICE
The percent of properties sold over list price for March 2024 was 14.1%.  The percent of homes closed over list price for March 2023 was 13.2%, increasing 7.2% compared to this time last year and increasing 29.8% from last month.   The sale-to-list price ratio is calculated as the final sale price divided by the last list price. 

MONTHS SUPPLY OF HOMES
The month's supply of inventory for March 2024 was 3.1 months. The month supply of inventory for March 2023 was 1.8 months, increasing 67.8% compared to this time last year while decreasing 14.9% from last month.  The month's supply of inventory is an estimate of the number of months it will take to deplete the current inventory of given recent sales rates.   If all the homes were sold by the current pool of buyers without new homes being listed, meaning we would run out of inventory in 3.1 months.  Anything under 5.5 months usually indicates that we are in a Seller's Market, however, ask your Realtor for further analysis.

 Source: Northeast Florida Association of REALTORS®. 

Northeast Florida Market Update - March 2024

A new month of stats to help you navigate our local housing market.   Closed and Pending Sales decreased compared to this time last year, while new listings and active inventory increased.

ALL STATS BELOW ARE FOR SINGLE FAMILY HOMES INCLUDING THE SURROUNDING COUNTIES OF DUVAL, ST. JOHNS, CLAY, AND NASSAU.

For the month of March 2024, the median sales price for Northeast Florida was $391,400.  The median sales price for March 2023 was $370,000, increasing 5.8% compared to this time last year and increasing 0.4% from last month.   Median Sales Price is the preferred summary for price activity.  Unlike average sale price, median sales price is not sensitive to high sales price for small numbers of homes that may not be characteristic of the market area.  Keep in mind, the Median Sales Price only reflects the values of homes that sold each month.  This number reflects 50% of sales that were above and 50% of sales.  The highest median sales price in surrounding counties was St. Johns County which was $546,259. The median sales price for March 2023 was $560,000, decreasing 2.5% compared to this time last year while increasing 10.4% from last month. Nassau County had the second highest with $445,490.  The median sales price for March 2023 was $403,064, increasing 10.5% compared to this time last year while decreasing 1.0% from last month.  Clay County had the third highest with $348,000.  The median sales price for March 2023 was $343,000, increasing 1.5% compared to this time last year and increasing 0.1% from last month.    Duval County was the lowest of the four with $345,950.  The median sales price for March 2023 was $315,000, increasing 9.8% compared to this time last year while decreasing 0.9% from last month.

PRICE PER SQ FT
The median price per square foot for March 2024 was $210. The median price per square foot for March 2023 was $199, increasing 5.5% compared to this time last year and increasing 1.4% from last month. 

DAYS ON MARKET UNTIL SALE
The median number of days on market for March  2024 was 34 days.  Days on market for March 2023 was 42, decreasing 19.0% compared to this time last year while increasing 6.3% from last month.   This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF ORIGINAL SALES PRICE RECEIVED
The percent of original list price received for March  2024 was 97.7%.  The percent of original list price received for March 2023 was 97.1%, increasing 0.6% compared to this time last year and increasing 0.6% from last month.  The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract.  This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

PERCENT OF PROPERTIES SOLD OVER LIST PRICE
The percent of properties sold over list price for March 2024 was 14.1%.  The percent of homes closed over list price for March 2023 was 13.2%, increasing 7.2% compared to this time last year and increasing 29.8% from last month.   The sale-to-list price ratio is calculated as the final sale price divided by the last list price. 

MONTHS SUPPLY OF HOMES
The month's supply of inventory for March 2024 was 3.1 months. The month supply of inventory for March 2023 was 1.8 months, increasing 67.8% compared to this time last year while decreasing 14.9% from last month.  The month's supply of inventory is an estimate of the number of months it will take to deplete the current inventory of given recent sales rates.   If all the homes were sold by the current pool of buyers without new homes being listed, meaning we would run out of inventory in 3.1 months.  Anything under 5.5 months usually indicates that we are in a Seller's Market, however, ask your Realtor for further analysis.

 Source: Northeast Florida Association of REALTORS®. 

Northeast Florida Market Update - February 2024

A new month of stats to help you navigate our local housing market.   Closed Sales, Pending Sales, Active Inventory, and New Listings all increased compared to this time last year.  The market is picking up!

ALL STATS BELOW ARE FOR SINGLE FAMILY HOMES INCLUDING THE SURROUNDING COUNTIES OF DUVAL, ST. JOHNS, CLAY, AND NASSAU.

For the month of February 2024, the median sales price for Northeast Florida was $375,895.  The median sales price for February 2023 was $365,635, increasing 6.6% compared to this time last year and increasing 3.3% from last month.   Median Sales Price is the preferred summary for price activity.  Unlike average sale price, median sales price is not sensitive to high sales price for small numbers of homes that may not be characteristic of the market area.  Keep in mind, the Median Sales Price only reflects the values of homes that sold each month.  This number reflects 50% of sales that were above and 50% of sales.   The highest median sales price in surrounding counties was St. Johns County which was $499,990.  The median sales price for February 2023 was $510,000, decreasing 2.0% compared to this time last year and decreasing 3.7% from last month. Nassau County had the second highest with $461,250.  The median sales price for February 2023 was $368,480, increasing 25.2% compared to this time last year and increasing 1.4% from last month.  Clay County had the third highest with $349,900.  The median sales price for February 2023 was $349,945, decreasing 0.0% compared to this time last year and decreasing 4.1% from last month.  Duval County was the lowest of the four with $345,990.  The median sales price for February 2023 was $315,000, increasing 9.8% compared to this time last year and increasing 8.1% from last month.

PRICE PER SQ FT
The median price per square foot for February 2024 was $207. The median price per square foot for February 2023 was $198, increasing 4.5% compared to this time last year and increasing 2.0% from last month.

DAYS ON MARKET UNTIL SALE
The median number of days on market for February  2024 was 35 days.  Days on market for February 2023 was 56, decreasing 37.5% compared to this time last year and decreasing 30.0% from last month.   This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF ORIGINAL SALES PRICE RECEIVED
The percent of original list price received for February  2024 was 97.2%.  The percent of original list price received for February 2023 was 97.1%, increasing 0.1% compared to this time last year and increasing 0.3% from last month.  The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract.  This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

PERCENT OF PROPERTIES SOLD OVER LIST PRICE
The percent of properties sold over list price for February 2024 was 11.1%.  The percent of homes closed over list price for February 2023 was 10.2%, increasing 9.3% compared to this time last year and increasing 4.5% from last month.   The sale-to-list price ratio is calculated as the final sale price divided by the last list price. 

MONTHS SUPPLY OF HOMESThe month's supply of inventory for February 2024 was 4.1 months. The month supply of inventory for February 2023 was 2.7 months, increasing 53.8% compared to this time last year while decreasing 6.1% from last month.  The month's supply of inventory is an estimate of the number of months it will take to deplete the current inventory of given recent sales rates.   If all the homes were sold by the current pool of buyers without new homes being listed, meaning we would run out of inventory in 4.1 months.  Anything under 5.5 months usually indicates that we are in a Seller's Market, however, ask your Realtor for further analysis.

 Source: Northeast Florida Association of REALTORS®. 

Northeast Florida Market Update - January 2024

A new month of stats to help you navigate our local housing market.  While closed sales decreased compared to this time last year, pending listings, new listings and active inventory increased.  This time of year is usually slower due to the holiday season.  We expect the market to pick back up soon!  

                                   ALL STATS BELOW ARE FOR SINGLE FAMILY HOMES INCLUDING THE SURROUNDING COUNTIES OF DUVAL, ST. JOHNS, CLAY, AND NASSAU.

For the month of January 2024, the median sales price for Northeast Florida was $377,950.  The median sales price for January 2023 was $368.495, increasing by 2.6%.  Median Sales Price is the preferred summary for price activity.  Unlike average sale price, median sales price is not sensitive to high sales price for small numbers of homes that may not be characteristic of the market area.  Keep in mind, the Median Sales Price only reflects the values of homes that sold each month.  This number reflects 50% of sales that were above and 50% of sales.  The highest median sales price in surrounding counties was St. Johns County for January 2024 was $519,000.  The median sales price for January 2023 was $528,245, decreasing by 1.8%.  Nassau County had the second highest with $467,000.  The median sales price for January 2023 was $384,318, increasing by 21.5%.   Clay County had the third highest with $363,990.  The median sales price for January 2023 was $370,000, decreasing by 1.6%.   Duval County was the lowest of the four with $320,000.  The median sales price for January 2023 was $308,000, increasing by 3.9%.

PRICE PER SQ FT
The median price per square foot for January 2024 was $203. The median price per square foot for January 2023 was $201, increasing by 0.7%.

DAYS ON MARKET UNTIL SALE
The median number of days on market for January 2024 was 48 days.  Days on market for January 2023 was 57, decreasing by 15.8%.  This is the number of days between the listing date and closing date for all Closed Sales during the month.

PERCENT OF ORIGINAL SALES PRICE RECEIVED
The percent of original list price received for January 2024 was 96.9%.  The percent of original list price received for January 2023 was 96.7%, increasing by 0.1%. The sale-to-list price ratio is calculated as the final sale price divided by the last list price.  The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract.  This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

PERCENT OF PROPERTIES SOLD OVER LIST PRICE
The percent of properties sold over list price for January 2024 was 10.8%.  The percent of homes closed over list price for January 2023 was 10.1%, increasing 6.2%.  The sale-to-list price ratio is calculated as the final sale price divided by the last list price. 

MONTHS SUPPLY OF HOMES
The month's supply of inventory for January 2024 was 3.8 months. The month supply of inventory for January 2023 was 3.8 months, increasing by 0.8%.  The month's supply of inventory is an estimate of the number of months it will take to deplete the current inventory given recent sales rates.   If all the homes were sold by the current pool of buyers without new homes being listed, means we would run out of inventory in 3.8 months.  Anything under 5.5 months usually indicates that we are in a Seller's Market, however, ask your Realtor for further analysis.

 Source: Northeast Florida Association of REALTORS®.