How’s the market? January 2023

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

About the Author
It’s great to meet you. I’m truly honored that you are taking the time to learn about me and my expertise. Throughout my career I’ve had the privilege of being trusted with major clients, projects and roles, always giving my best, and with spectacular results. Born with a marketing mind, and after two decades of hands-on experience, I have fine tuned my craft. I love selling real estate and working with buyers. There are not many professions where you can help people in a significant way and make friends doing it!