Is the Jacksonville real estate market crashing? Some say it is and I disagree. Transaction volume is down, the median price range is down, days on the market is up. However, this doesn't mean the real estate market has crashed.
The median price for a single family home in Jacksonville fell in October by 3.6% to $320,000 as to be expected with interest rates nearing 8% and buyer demand at it's lowest level since 1996.
On the flip side 765 single family homes sold in Jacksonville in October and 97.3% of those selling a home in Jacksonville got their asking price. 17.8% got more than asking price.
Inventory is still low but creeping up slowly. 3.2 months supply of home for sale indicates it's still a good time to sell a house.
Mike Jones, Jacksonville Real Estate Agent, REALTOR
904 874-0422
MikeAndCindyJones.com
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