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Market Snapshot: What You Need to Know-August 2023

Updated: Sep 17, 2023


Real Estate Market in St. Augustine, FL-August 2023

Welcome to the Monthly St. Augustine Market Report for August 2023. In this month’s market update I wanted to diving into the latest real estate trends and statistics to keep you informed and engaged in the market. So, whether you're a buyer or a seller, this update is for you.


Monthly Supply of Inventory

St. Augustine FL Real Estate | July 2023 Months Supply of Inventory

Currently, we're looking at a 3.2 Months Supply of Inventory which is down slightly from last month. What does that mean? Well, it means that if no new homes were listed, it would take just over 3 months for all the homes currently on the market to be sold. And let me tell you, that's a pretty tight market!


Over the last 12 months, we've seen an increase of 18.96% in the Months Supply of Inventory. This increase simply means that more homes have been hitting the market, giving buyers a wider range of options to choose from. So, sellers, don't fret just yet. There's still plenty of opportunity out there!


List to Sold Price Percentage

St. Augustine Real Estate | Jul '23 List to Sold %

In St. Johns County, we're looking at an impressive 97.4% List to Sold Price percentage. This means that sellers are receiving, on average, 97.4% of their asking price. So if you're selling your home, you can expect to be pretty darn close to your target price as long as it was listed properly the first time. This is why you should work with a local area expert when trying to sell your home.


Median Days on the Market

St. Augustine Real Estate | Jul '23 Median Days on Market

Now, let's talk about the median days on market. Time is of the essence and lucky for you, homes in this area are moving quickly! Currently the median days on market are 38 days so, buyers, if you see a home you love, don't hesitate. Snatch it up before someone else does!



Median Sold Price

Lastly, let’s get to the main topic everyone is interested in, the median sold price. In St. Johns County it currently stands at $517,500. This represents the middle point of all sold homes, indicating the overall value and attractiveness of our real estate market. The incredible quality of life, stunning beaches, and top-notch schools make this price tag worth every penny.

St. Augustine FL Real Estate | July 2023 Median Sold Price

So What Does This Mean For Buyers and Sellers?

As you can see, whether you're a buyer or a seller, there's plenty of excitement happening in our little slice of paradise. With a growing demand, strong list to sold price ratios, and homes selling quickly, it's an exciting time to be involved in the real estate market here. If you're considering making a move, don't hesitate to reach out to First Coast Realty. We’re here to guide you through the process and help you achieve your real estate goals.


St. Augustine Real Estate | Jul 2023 Real Estate Market Update


 

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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