Jacksonville Fl Real Estate Market Report October 2018
Again, another month where we see the inventory levels coming up. This will give buyers more homes to choose from. I'm even seeing that in the lower price points of 200k and below.
Some sellers think they can over price their listing, even with the home not updated or in tip top shape, and it will still sell, but buyers aren't having it. They are expecting more bang for their buck, so sellers you need to have your home in great shape or buyers will not give your home the time of day.
You might be wondering if these numbers apply to your home, but each neighborhood is different, so if you're thinking of selling and want to know more click:
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 199,000 and the other half were less than 199,000.
Month's Inventory: Based on the number of actives and homes that have sold it would take 3.47 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