Today let's dive into the Northeast Florida real estate scene for July 2023. We're talking about the six counties: Baker, Clay, Duval, Nassau, Putnam, and St. Johns. Check out the graph above – it tells us we're still in a seller's market, with only 2.7 months of homes in inventory. To break it down, if nothing changed, all the homes currently up for grabs would be sold in just 2.7 months. A balanced market usually hangs around 5 to 6 months of inventory.
Now, let's get into the nitty-gritty. The median sales price has edged up by 1.3%, and homes are spending about 9.7% more time on the market. We've got 33.3% more homes available compared to June 2023, but new listings dropped by a tiny 0.2%, and closed sales took a 19.8% dip from June 2023. Still, here's the kicker – almost 98% of sellers are getting their asking price.
So, in a nutshell, the real estate market in Northeast Florida is holding strong. Below, you'll find the numbers specifically for Clay, Duval, and St. Johns Counties. Stick around for more updates on this exciting market!
If you have any questions about the current market from a buyer or seller's perspective, please let us know. We love educating people so they can make the best real estate decision. You can always reach us by clicking the Request a Consult button at the top of the page and we can set up a time around your schedule.
Until next time!