10 Unreal Real Estate Stats to Know Going into 2023
Smart buyers and sellers = strong buyers and sellers in the Jacksonville real estate market. Position yourself to win in 2023 by keeping a pulse on the facts of the market, not the sensationalized headlines. Real estate is a hyper-local conversation, and these great data points can help you navigate a unique Jacksonville housing market.
Smart Stats to Know about the Current Market
According to NEFAR, median days on market in Duval/St Johns counties has doubled since November 2021 while sales price is up 7% year over year.
According to a Realtor.com seller survey, 67% of homeowners who sold in August 2022 negotiated with buyers who wanted repairs done (in comparison with 31% in the previous six to 12 months). This is expected to increase slightly in 2023, improving buying power.
Millennial buyers continue to make up the largest (and growing) share of homebuyers at 43%.
A strong rebound is projected for housing in 2024, with a 10% jump in home sales and a 5% increase in the national median home price.
According to NEFAR, new listing inventory in Duval/St Johns counties is down 23% year over year. (Point of evidence that the news is skewed in the reporting.)
According to NEFAR, 12.6% of hopes in Duval/St Johns counties closed above list price in November 2022. That’s down 64% from November 2021.
More than 20% of homebuyers in 2021 were single females.
As of August, the Case-Shiller Index showed U.S. home prices had fallen 1.3% from their June 2022 peak.
1,036 homes sold in Duval/St Johns counties in November 2022, according to NEFAR. That’s down 45% YoY and 27% MoM.
A record 29% of single-family homes for sale in the third quarter were newly constructed, climbing from 25% in the same period last year and 18% in 2020.
Spend + Sell Smarter with the Right Agent Partner
Gordon + Co offers clients a buying + selling experience unrivaled by our competitors. The behind the scenes process of a real estate transaction can be hectic — our job is to keep is simple and seamless for you. Expect top-notch communication, hyper-local market knowledge and white-glove service. Get in touch with Sofie today!