Real Estate Market Stats Report

by Nikki Lyn Holm, The Coastal Home Group (Keller Williams Jacksonville)

“Real Estates cannot be lost or stolen, nor can it be carried away.  Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
Franklin D. Roosevelt ​

Speaking of good investments, as an agent who loves, lives in, and assists many people in buying and selling their homes in St. Johns County, I would agree: This market is hot!  The number one driver for people moving here is the well known and respected school system of St. Johns. Check this site out for more information:  https://www.stjohns.k12.fl.us/
In our county last year, we had 6,709 total closed sales in 2018, and over 30% were a result of the new home construction boom. Almost 20% of these sales were condos and townhomes. The new home construction  market is receiving 98.4% of their original list price. Clearly a sign of strength, demand, and market confidence.
Four "Fun Facts” for future buyers and sellers:

1. Homes sold for 95.1% of their list price on resales last year, and are currently receiving 95.6%.
2. In NE St. Johns County the median sales price in St. Johns County is  $426,618. Last year it was 345,000. Wow!
3. The average days on market is up a little, at about 88 days.
4. Over 10% of the properties have received over the listed price.

Although buyer enthusiasm has slowed down a bit through the winter months, our biggest challenge as a housing market, is to clarify the misperception that buying now is potentially the "height of the market.” The spikes and drops from the Federal Reserve have left many consumers more cautious and concerned. However, in reality, if lenders continue to act on the conservative and responsible side, we should see more homes becoming available. Ultimately, there should be a leveling out in our marketplace, which would result in a more balanced market shift. If the economy continued to thrive, and rates can hold firm, we will see consumer confidence and activity improve for 2019.


*Statistics derived from NEFAR