Odd trend in the market. The inventory of homes available to purchase in Jacksonville has plummeted. I’m talking full on nose dive and it hasn’t started pulling up to level off yet. BUT – the average number of days on market has actually increased.
My theory: Lower priced homes are being snatched up by investors in record numbers. I have several very large, institutionally large, investment firms that I market properties directly to. They are buying site unseen and cash closings. As fast as we can get them on the market……within their pre-set parameters. That handles the lower priced market. HOWEVER, the middle priced and up are still sitting. $400,000 + seems to be sitting and waiting just like a few years ago. I’d like to see this trend end! Less lower priced homes to choose from and more middle to upper priced homes and I believe this is causing this increase of days on market.
In my expert opinion, this leads me to believe it is a great time to shop for Waterfront Homes in Jacksonville FL and the surrounding areas! As the Sellers are sitting with homes on the market for longer than desired, you just might be able to pick up a home under market value……..and those days are fleeting!