As of May 07 2012 the Jacksonville real estate market had about 11,214 single family and condo homes listed for sale. The median listing price of these homes was approximately $179,990. “Median” means that about half of the homes were higher and half were lower. Since this time last year, our inventory of homes for sale has decreased by 23.6% and the median price has increased by 1.4%. Both are very good indicators that the Jacksonville real estate market is moving in the right direction.
The upward direction of the Jacksonville real estate market mirrors the direction much of the rest of the state of Florida is moving. The Jacksonville real estate market tends to lag just a little behind the larger markets to the south whether going up or down. As we see the south improve at an even faster rate, we can rest assured that Jacksonville will follow that trend as well.
Buyers and sellers in the Jacksonville real estate market can keep their finger on the pulse of the market by registering for a free home search account and save listings in their own personal file for monitoring daily, weekly and monthly.
The median listing price for homes in the Jacksonville real estate market saw its peak in May 2006 at $319,740. The median price is now $139,750 – about 44% lower. HOWEVER, from a low of $169,560 in January 2011, the median asking price in Jacksonville has increased by $10,430 – about 6 percent higher.
Housing inventory in Jacksonville, which is typically highest during the spring and summer and lowest in the fall and winter, peaked at 23,842 in August 2007. The lowest housing inventory level seen was 11,214 in May 2012 — that is right now, folks… when inventory is low, prices begin to rise. Couple that with the lowest interest rates in modern history and there is no doubt that now is the time to buy!
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