2016 Jacksonville Real Estate Update.
Let's start with # of single family homes sold and price range year over year for the Northeast FL MLS.
So this includes Duval, Clay, St. Johns and some of the surrounding counties:
- The numbers below are YOY from 2015- 2016
- Number of homes sold: 25,301 that's up 4% from 2015
- Average Price: $232,000 up 7% from $216,000 in 2015
That's good growth in my opinion:
That puts us in line with what zillow put out recently (but we're in Florida!)
The median home value in the United States is $193,800. United States home values have gone up 6.8% over the past year and Zillow predicts they will rise 3.5% within the next year. The median list price per square foot in the United States is $130. The median price of homes currently listed in the United States is $235,000.
I took a quick glance at what regions saw the biggest sales growth and price increases in Jacksonville in 2016.
One cool surprise was that the West historic areas lakeshore, Hyde grove , Murray Hill etc. all had double digit growth in number of homes sold and price! In fact there is no other region that did better on a whole in 2016 which I didn't know until now.
The beaches are still booming double digit price increases across the board except for Atlantic beach east and Neptune beach west which clocked in at 9% and 3% respectively.
I was also surprised in the slow down of Nocatee prices are still up 5% though and 2015 was a ridiculous year for Nocatee. They also split the area in our MLS between North and South Nocatee and I'm not digging that much but it looks like it's slowed a bit.
Green Cove Springs! up 27% it's still taking a longer time to sell in the area but wow!
San Jose area beat out Mandarin and JCP in increase of sales and price growth.
Southside is still going strong, double digit increases as well.
The world golf village west area saw 36% more home sold with a small price increase.
So my round up: Just like across the country people increasingly want to live closer to metro areas and are willing to pay more for it. The burbs are not dying but growing slower and steadier if you will. The beach is still the place to be and oceanfront prices are still climbing. I will say that I saw the prices in Murray Hill and the surrounding area jump during the last boom and saw them bust in dramatic fashion. Hopefully, more long term investments are being made in the area to keep the people moving there around longer this time.