Jacksonville Fl Real Estate Market Report January 2016
My first market report of the year is this one and Jacksonville seems to be starting the year off pretty good. Median sales price up 9.8% and the months inventory level is showing us in a slight seller's market. The original list price to sales price gap is closing, which means homes are selling a little closer to what they are listed for.
Each neighborhood is different, so if you're thinking of selling and want to know more click: What's my Jacksonville Florida Home Worth?
If you're a buyer and want to see what homes are available in Jacksonville, click the following link: Want to Search for Homes in Jacksonville Florida?
Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 139,500 and the other half were less than 139,500.
Month's Inventory: Based on the number of actives and homes that have sold it would take 4.69 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.