How’s the market? September 2022

The transition to a calmer market is well underway

As the buyer frenzy has dissipated, we are left with a calmer market, meaning more days on market, more listings and list prices normalizing.  It appears as if we are headed back to the calmer waters of 2019.

Luxury Update:

We advise luxury sellers to price on or slightly below market to stay ahead of the market and not wind up with a discount strategy.  Anticipate longer days on market and price accordingly.  The following data is for homes $750,000 and above which represents about 7 percent of the overall market in NE Florida by total volume of homes sold.

Under contract: 190 (8.7% of the market)

Sold: 167 (7% of the market)

Active listings: 1039 (13% of the market)

New listings: 309 (10% of the market)

Days on market: anecdotal data suggests 60-90 days or more on market in the luxury pricepoint

Regional highlights for August:

  • ST. AUGUSTINE – Increasing days on market with dramatic increase in new listings.
  • PONTE VEDRA BEACH –Increased listings and increased days on market.  Smaller quantity of homes easily shows spikes in list prices.
  • PALM COAST – Large amount of listings added to NEFAR this month. Slowdown in homes sold and increased days on market continues.
  • JAX BEACH – Almost the same number of listings compared with the same time last month.  Also showing longer days on market and only slight increase in list price.


Median List Price $499,000 (+11%) $1,490,000 (+50%) $428,500 (+14%) $687,000 (+14%)
Median Sale Price $470,000 (+17%) $871,500 (+10%) $375,950 (+6%) $660,000 (+20%)
Median DOM 29 (+107%) 26 (+30%) 12 (-14%) 24 (-25%)
# Active Listings 1,102  (+69%) 189 (+60%) 130 (+94%) 104 (+4%)
# Homes Sold 253 (-36%) 43 (-30%) 22 (-50%) 37 (-21%)

Source: RealMLS (Northeast Florida Association of Realtors), Sept 2022

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