The real estate market in Jacksonville Florida is hopping! Check out the latest stats with our Infographic, and a little commentary following...
Around the country, the real estate market is in full bloom again, and here locally in the Jacksonville area we are finally seeing the same increases. It is still a Sellers market as we have less than 6 months of inventory available for the amount of homes being purchased on a monthly basis, but unlike other areas of the country - we aren't seeing huge price spikes. I'm fine with that, and most of us who went through the huge boom years and then survived through the huge crash years, would much prefer a smooth increase in prices vs. bubble pricing.
A few key items in this infographic report that I'm noticing:
506 Distressed Sales for the month: This is WAY down, 25.3% less than a year ago. That's a BIG drop and I think we will see the drop continue to happen.
12.7% of sales sold for OVER list price: This is not a surprise! We have had many customers miss houses this year because they offered too low on a HOT house. The market has moved, and the days of low balling should be over - especially for well cared for homes that are well priced and just hit the market. .....if they've been on the market for 6 months, Buyers will have more leverage to get a discount off the list price.
94.2% Sales price to List Price: This is just slightly over the rule of thumb of 92% that we in the real estate industry use. However, in a rising market this will continue to be the trend and that gap between list price and sold price may even tighten down further.
If you or any of your friends or family would like to discuss selling a home or buying, please don't hesitate to give us a call or send an email! Or head on over to search homes for sale in Jacksonville.