Spring is off to a strong start. Currently Nefar is showing 5,400 active listings in NE Florida. Certainly a healthier market than we saw last year. With more listings, the competition is high for sellers – with house sale prepping, open houses and staging back as part of standard practice in home marketing. We can expect more listings to come on and buyers will have more choices than ever before leading up to summer.
LUXURY UPDATE: $1M+ Homes
Last month we saw a 3% increase in the number of homes sold over $1M. Regional data shows 210 new listings (up from 175 last month), 120 sold, 134 pending and 503 active listings (up 72% from this time last year). In St. Augustine specifically, we saw 76 active listings, up 65% from the same month last year.
RESIDENTIAL DATA – NORTHEAST FLORIDA
- Days on market have doubled compared to the same time last year. On average around 70 days.
- The number of active listings have doubled. This represents 500 more homes in St Augustine than in March 2022.
- Luxury markets like PVB seeing a dip in median list price, as supply and demand shifts.
- In general less homes sold than the same time last year, however PVB showing a slight increase. Possibly reflects less overpriced listings than last year.
|MARCH 2023||ST. AUGUSTINE||PONTE VEDRA BEACH||PALM COAST||JAX BEACH|
|Median List Price||$489,000 (+ 3%)||$1,297,500 (-21%)||$420,000 (+3%)||$680,000 (-15%)|
|Median Sale Price||$432,500 (-6%)||$977,500 (-9%)||$390,000 (+6%)||$607,500 (-13%)|
|Average CDOM||77 (+ 100%)||60 (+87%)||74 (+196%)||56 (+55%)|
|# Active Listings||1,060 (+112%)||199 (+109%)||125 (Nefar) (+155%)||103 (+87%)|
|# Homes Sold||345 (-17%)||62 (+12%)||51 (Nefar) (0%)||44 (-18%)|
Source: RealMLS (Northeast Florida Association of Realtors) Residential data for March 2023. Percentages as compared to the same time in 2022.