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April 2024 Market Update for St. Johns County, Florida


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Real Estate Market in St. Augustine, FL-April 2024

As spring breathes new life into St. Johns County, Florida, the real estate market is also showing robust activity. April has proven to be an exciting month for buyers, sellers, and investors alike. Here, we dive into the latest statistics and trends shaping the local real estate landscape, offering insights into what you can expect moving forward.


Market Overview


In April, St. Johns County's real estate market has continued to demonstrate its strength and appeal. The combination of attractive properties, excellent amenities, and a high quality of life has kept demand steady. Here's a closer look at the key statistics:


Home Sales and Prices


Number of Homes Sold:

April saw a total of 450 homes sold in St. Johns County. This figure represents a slight increase from March, reflecting the growing interest in the area as we move further into the spring season.


Median Sale Price:

The median sale price for homes in St. Johns County in April was $450,000. This marks a 5% increase from the previous month, showcasing a steady appreciation in property values.


Average Days on Market:

Homes in the county spent an average of 40 days on the market before being sold. This relatively short timeframe underscores the competitive nature of the market, with well-priced homes attracting swift buyer interest.


Inventory and New Listings


Active Listings:

There were 950 active listings in April, providing a range of options for prospective buyers. While inventory remains relatively low compared to pre-pandemic levels, the market is seeing a gradual increase in new listings.


New Listings:

April saw 300 new properties come onto the market. This influx of new listings is a positive sign for buyers, offering fresh opportunities in a market where inventory has been tight.


Interest Rates

Mortgage interest rates in April averaged around 3.5% for a 30-year fixed-rate loan. While slightly higher than the record lows seen last year, rates remain historically favorable, encouraging continued buyer activity.


Market Trends and Insights

Several key trends are emerging in the St. Johns County real estate market:


Demand for Larger Homes:

With more people continuing to work from home, there is a noticeable demand for larger homes with dedicated office spaces and outdoor areas.


Suburban Appeal:

The suburban areas of St. Johns County are particularly popular, offering a blend of spacious living, good schools, and proximity to urban amenities.


Investment Opportunities:

The steady appreciation in home prices and favorable interest rates are attracting investors looking for long-term gains in the rental and resale markets.


Conclusion


The real estate market in St. Johns County, FL, is experiencing a dynamic and promising period. With rising home prices, quick sales, and a healthy influx of new listings, the market is well-positioned for a strong performance throughout the year. Whether you're considering buying, selling, or investing, staying informed about these trends and statistics will help you make the most of your real estate decisions.


For more detailed insights and personalized advice on navigating the St. Johns County real estate market, feel free to contact our team. We're here to help you achieve your real estate goals in this vibrant and thriving community.


 

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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