With less inventory to choose from and a lot of buyers in the market, real estate right now can be a rollercoaster ride, no matter which side you’re on.
January’s sales data indicates inventory is tightening up, speeding up, and home prices remain strong. Below are January’s residential home sales data as compared with the same time last year.
- ACTIVE LISTINGS – Across the board we are seeing about 35% less inventory than in January 2021.
- HOMES SOLD – Significant drop (40%) in the number of homes sold for Jax Beach. St Augustine and Ponte Vedra Beach are almost flat, showing small decreases from 2021.
- DAYS ON MARKET – Median DOM in Palm Coast was only 6 days! Augustine is showing half the days on market than last year.
- SALES PRICE – Both Ponte Vedra Beach and St. Augustine are showing double digit increases on median sales price (39% and 24% respectively).
- PALM COAST – Boy this market has sped up! With almost 40% less available inventory than last year, sales prices remain strong. Palm Coast, as compared to other regions in the Northeast, is a great value. It offers similar proximity to the coast without the higher pricetags you’ll see further north.
- ST. AUGUSTINE – Strong with more than 60% of homes sold between $300,000-$499,000.
- JACKSONVILLE BEACH – 40% decrease in homes sold compared to Jan 2021, HOWEVER the 28 homes sold is similar to how the market looked in 2019 and 2020 so may show signs of normalizing.
- PONTE VEDRA BEACH –31% of homes sold in Jan were $11M+
If you want to discuss or if you have insight you want to share please reach out.
RESIDENTIAL DATA – NORTHEAST FLORIDA
PONTE VEDRA BEACH
|Median List Price||$420,000 (+8%)||$387,000 (+10%)||$842,000 (+42%)||$1,500,000 (71%)|
|Median Sale Price||$425,990 (+24%)||$319,000 (-10%)||$599,450 (13%)||$735,000 (39%)|
|Median DOM||17 (-52%)||6 (-80%)||26 (36%)||29 (-17%)|
|# Active Listings||517 (-29%)||45 (-39.2%)||56 (-34%)||80 (-35%)|
|# Homes sold||277 (-1.8%)||28 (-12.5%)||28 (-40%)||60 (-6%)|
|Notes||62% homes sold $300K-$499K||PC outpacing other markets for DOM||40% decrease in homes sold compared to Jan 2021||31% of homes sold were $1M+|
SOURCE: RealMLS/NEFAR, Residential, January 2022