Here’s what buyers and sellers need to know about our market.

What exactly is happening in our real estate market? You’ve probably heard some crazy things from different sources recently, but is any of it true? Today we want to share the numbers to help you understand what’s happening in Jacksonville’s real estate market.

The median sales price in June was $400,000, which is a year-over-year increase of 20%. The average days on market has increased to 19, which is still very low. Our market remains hot, so why are some people freaking out about a crash?

We aren’t heading for a crash, but our market is shifting. Supply and demand are beginning to normalize. Currently, there are 3,800 homes for sale, which is a 14% increase from last month. That's still not much inventory, but it’s more than we’ve had recently.

Does this mean we’re in a buyer’s market? Not quite. Supply is still low, so sellers have the upper hand. Homes priced correctly and in great condition are still selling quickly for top dollar. However, buyers have more opportunities since they’ll have less competition.

If you have questions about today’s topic or anything else, please call or email us. We look forward to hearing from you!