Fleming Island Real Estate Market Report December 2015
Crazy how the numbers can change so quickly in just a month. If you look at the Fleming Island Real Estate Market Report from last month, you'll see that Fleming Island was experiencing a balanced market. This month we see it leaning into a seller's market. Look at that median sales price in December 2015, vs December 2014. Yikes! Negative 29k! Don't let that put fear into your heart, as one month doesn't determine how the market is fairing.
For more information about what these stats mean, scroll below for definitions. If you're wanting to know what you're home can sell for in today's market, click on the following link: What’s my Fleming Island Florida Home Worth?
If you're wanting to buy and want to see how that scenario is playing our, click the following link: Search for Homes in Fleming Island Florida
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 206,350 and the other half were less than 206,250k.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 4.58 months to sell the active homes, if no other homes came on the market. How to determine what type of market we are experiencing:
Buyers’ Market: More than 7 months of Inventory
Balanced Market: From 5-7 months of Inventory
Sellers’ Market: Less than 5 months of inventory
Average Days on the Market: This is the average based on the time the house came on the market until is went under contract.
Original List Price to Sales Price: This is the percentage of what the home sold for compared to what it was originally listed for. Not what it was listed for at the time it went under contract.
Originally Posted at: Northeast Florida Life