Welcome to the Monthly St. Augustine Market Report for January 2023. In this month’s market update I wanted to dive into the latest real estate trends and statistics to keep you informed and engaged in the market. So, whether you're a buyer or a seller, this update is for you.
I wanted to clarify the area this market update covers. St. Johns County, FL includes the areas of St. Augustine and St. Augustine Beach, Vilano Beach, Ponte Vedra and Ponte Vedra Beach, Elkton, Hastings, Nocatee, plus many smaller regional areas. If the area you're interested in is not mentioned, contact us. Our contact information is below. We’d be happy to prepare a market update for your area. In addition to St. Johns County our office covers Flagler, Putnam, Duval, and Clay counties. Now, let’s get started.
Low Inventory, High Demand:
If you've been keeping an eye on the real estate scene, you've probably heard the buzz about low inventory levels. Well, the stats don't lie – we're currently looking at just 3.32 months' supply of homes available for sale. Translation? Demand is sky-high, folks, and that could mean some serious competition for those dream properties.
Tightening Competition:
Buckle up, buyers, because it's about to get even more competitive out there. The 12-month change in months of inventory has dipped by 3.49%, signaling a market that's becoming increasingly cutthroat for those looking to snag their slice of real estate heaven. Sellers, take note – this could mean more leverage when it comes to negotiations.
Speedy Sales:
Blink, and you might miss it – homes are flying off the market with a median of just 62 days on the block. That's right, folks, quick sales are the name of the game, indicating a hefty appetite among buyers eager to make a move.
Close to Asking Price:
Here's some good news for sellers – the list to sold price percentage is a solid 97%. Translation? Homes are fetching pretty darn close to their asking prices, a surefire sign that sellers are hitting the sweet spot with their pricing strategies.
Median Sold Price:
Last but certainly not least, the number that most people are interested in, the Median Sold Price. For the St. Johns County area, the median sold price stands at an impressive $474,730. This figure represents the midpoint of all the sold homes in our area. It's crucial to understand that this is not the average price, but rather the midpoint, with some properties selling below and others above this figure. However, it's a great reference point for both buyers and sellers to gauge the market's overall health. Our median sold price is a testament to the incredible value and quality of homes in St. Johns County. It's truly an investment that pays off.
So What Does This Mean For Buyers and Sellers?
As we wrap up this market update, I want to remind you that these numbers are based on current data and trends. Real estate is constantly evolving, and it's important to consult with a professional to get personalized advice based on your unique situation. If you're thinking of buying or selling a home in St. Johns County, Florida, remember that the agents at First Coast Realty are here to help you navigate the market with confidence. Please feel free to reach out to us at the contact information provided below. We look forward to assisting you in achieving your real estate goals.
Whether you are looking to buy or sell, First Coast Realty would welcome the opportunity to earn your business. Feel free to reach out to us on Facebook or Twitter and we would be happy to assist you in getting the ball rolling. Or, to talk to a qualified, experienced agent call/text today 904-494-8408 or email info@firstcoastrealtyinc.com
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