How’s the market? March 2022

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Our market continues to tighten with lower inventory than we have ever seen.  Currently we have 3,200 listings, compared to March 2019, when we had 9,700 listings in Northeast Florida!

Home prices are increasing across the region.  St. Augustine, for example, shows a 35% increase in sales prices, compared with the same time last year, along with a spike in the number of homes sold between $500,000-$749,000 (up 126%).  Palm Coast remains strong, with only 10 days on market, and average sale pricing increasing slightly year over year.  See more market highlights below!

Market Highlights

  • ACTIVE LISTINGS – 3,266 active listings down 26% from March 2021.
  • HOMES SOLD – 14% less homes sold than the same time last year.
  • DAYS ON MARKET – Regional average is 14 days. Palm Coast now showing 10 days on market.
  • SALES PRICE – All markets showing sales price increases. St Augustine with the largest inventory showing a 35% increase in sales price.  Palm Coast showing only a slight increase.

Regional Highlights

  • PALM COAST – 50% homes sold were between $300,000-$399,000
  • ST. AUGUSTINE – 126% increase in homes sold between $500,000-$749,000
  • JACKSONVILLE BEACH – 26% of active listings are over $1M. 40% of homes sold are $500,000-$749,000
  • PONTE VEDRA BEACH – Homes sold down by 50% compared with March 2021

RESIDENTIAL DATA – NORTHEAST FLORIDA

MARCH 2022 ST. AUGUSTINE PALM COAST JACKSONVILLE BEACH PONTE VEDRA BEACH
Median List Price $485,000 (24%) $405,000 (23%) $799,900 (23%) $1,695,000 (67%)
Median Sale Price $472,500 (35%) $365,000 (4%) $700,000 (38%) $1,085,000 (64%)
Median DOM 20 (-31%) 10 (-61%) 19 (-9%) 12 (-45%)
# Active Listings 403 (-27%) 39 (-18%) 53 (-27%) 88 (-24%)
# Homes sold 327 (-26%) 44 (-2%) 49 (-21%) 51 (-50%)
Notes Homes sold $500,000-$749,000 increased by 126% 50% homes sold were between $300,000-$399,000 26% of active listings are over $1M. 40% of homes sold are $500,000-$749,000 Homes sold down by 50% compared with March 2021

SOURCE: RealMLS/NEFAR, Residential, March 2022

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