The spring real estate market is right around the corner here in Jacksonville and Northeast Florida, so I figured it's good time to look at the housing numbers and see what's selling.
First lets look at months of inventory year over year in Jacksonville:
- January 2015 = 6.91 Months
- January 2016 = 5.75 Months
- Feb 2015 = 6.23 Months
- Feb 2016 =5.37 Months
The lowest months of inventory are in the late spring and early months as you can see below, because the home sales pick up in May and June.
Now lets look at the number of Jacksonville homes sold over the same months
- January 2015 =1346
- January 2016 =1451
- Feb 2015 = 1513
- Feb 2016 =1558
If the trend above continues it may become a true sellers market (less than 5 months worth of inventory) however, on a whole Jacksonville has been a balanced real estate market (5-7 months worth of inventory ) for nearly the past 2 years.
The closest we've come to a buyers market in Jacksonville in the past 2 years was January 2015
This being said Jacksonville is so big that the numbers are a bit skewed, for instance the beaches and NW and NE St. Johns county are true sellers markets. East of the river Southside, Ft. Caroline Mandarin are balanced but North and West it may be more of a buyers market.... Location Location Location!
Next time we'll check which price range of homes are selling faster this year than last.
PS: If you ever want detailed stats on your area or region contact our family Jacksonville Remax team, we love digging into the numbers and trying to figure out what's next with the local Duval, Clay & St. Johns real estate market.