Good news for homeowners owners & investors
With inventory hovering just above 6,000 homes in the Nefar MLS, inventory is tight and home values are holding strong.
January saw more serious buyers and a larger proportion of investors who had been waiting on the sidelines for these specific market conditions. Across all cities we saw longer days on market.
LUXURY UPDATE: $1M+ Homes
Currently 6% of homes for sale in NE Florida are listed at $1M+ (456 homes) as we revert back to normal days on market. (80-100+ days). Of all homes that went under contract in January, almost 3% were over $1M, down 10% from the previous month.
RESIDENTIAL DATA – NORTHEAST FLORIDA
- ST. AUGUSTINE – Home prices remain strong as new listings abound.
- PONTE VEDRA BEACH – Steady pricing for luxury homes with longer days on market.
- PALM COAST – A steady slowing with days on market significantly higher. Sale pricing remains strong.
- JAX BEACH – A jump in listings, with market slowing and less homes sold.
| JANUARY 2023 | ST. AUGUSTINE | PONTE VEDRA BEACH | PALM COAST | JAX BEACH |
| Median List Price | $489,450 (+12%) | $1,400,000 (0%) | $431,995 (13%) | $660,000 (-20%) |
| Median Sale Price | $375,000 (-9%) | $800,000 (+8%) | $357,250 (+12%) | $600,000 (+1%) |
| Average CDOM | 69 (+97%) | 61 (+52% ) | 78 (+290%) | 65 (+12%) |
| # Active Listings | 1,012 (+80%) | 172 (+93%) | 116 (+107%) | 99 (+76%) |
| # Homes Sold | 226 (-25%) | 36 (-40%) | 26 (-21%) | 23 (-20%) |
Source: RealMLS (Northeast Florida Association of Realtors), January 2023
