Here are the numbers of active property listings, those under contract, and sold properties for Single Family Homes in Jacksonville Beach, FL for the month of April 2008:
- Active 320 active listings for Single Family Homes (no condos)
- Pending 6 pending (inspections & financing have been done)
- Sold 7 sold (prices ranged from $180,000 to $460,000)
- New Listings 44
Great news all around! First, our total area inventory (for Jacksonville overall) has decreased from approximately 19 months of inventory to 16 months, a reduction of 15%.
The active listings have decreased 6%, which is a good start for stabilizing prices. The pending listings, while down 33% statistically, are flat in terms of their relation to active listings at approximately 2% of active listings being in a firm contract, or, pending. The new listings are down about 56% year to year, which helps in narrowing down inventory and stabilizing prices.
Here are the April 2007 numbers for comparison:
- Active 340 active listings for Single Family Homes (no condos)
- Pending 9 pending (inspections/financing have been done)
- Sold 17 sold (prices ranged from $179,000 to $475,000)
- New Listings 78
Interest rates are still around 6%, and there are plenty of well-priced homes to choose from.
If you are thinking you'd rather wait, I encourage you to compare your current rent for the next 12 months, and look at that as your down payment. If inventory remains fairly constant, but interest rates rise, you could, in reality, end up paying $100-$200 more per month for your dream house if you wait.