Fleming Island Real Estate Market Report January 2016
All I can say is...Yikes! Look at the months Inventory. Go ahead, but it's not pretty. 8.74 months. That is what we would consider a buyer's market. It shows us that at the current inventory level, it would take almost 9 months to sell everything on the market. Not a great way to start off the year, but the good thing is, spring is right around the corner. Which brings warmth and a busy real estate market.
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 209,000 and the other half were less than 209,000.
Month’s Inventory: Based on the number of actives and homes that have sold it would take 8.74 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.