Here are the Jacksonville Area Market Stats for December 2014. The information is pulled from the greater Jacksonville area counties of Duval, Clay, St. Johns, and Nassau.
The change in Median Sales Price of 12.3% is a strong indicator of a recovering market in the greater Jacksonville area. As institutional investors cool their purchases, the market is settling to a more stable market with more inventory than last year, but still a shortage in some areas like Fleming Island and the Beaches.
The fact that properties are selling for 93.2% of original list price indicates that some sellers insist on overpricing their properties, despite the fact that many of their real estate agents suggest a price more in range of the true market value that will eventually be determined by the buyer. There are still multiple offers, as evidenced by the 12.2% of properties that sold over list price, but that has also slowed down as investors slow their activity in the Jacksonville market.
Even though the number of listings has declined, there are more listings for buyers to choose from than there were in 2013. The days on market is a reflection of the 93.2% sales to original list price, as well-priced listings sell within 96-100% of list price in under 30 days.
If you have questions about the greater Jacksonville real estate market, give us a call at 904-673-2308.
Comments(2)