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December 2023 Market Overview: Key Insights and Predictions


Houses in background with a First Coast Realty for Sale/Sold Sign in the Front
Real Estate Market in St. Augustine, FL-December 2023

Welcome to the Monthly St. Augustine Market Report for December 2023. In this month’s market update I wanted to dive 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.


I wanted to clarify the area this market update covers. St. Johns County, FL includes the areas of St. Augustine and St. Augustine Beach, Vilano Beach, Ponte Vedra and Ponte Vedra Beach, Elkton, Hastings, Nocatee, plus many smaller regional areas. If the area you're interested in is not mentioned, contact us. Our contact information is below. We’d be happy to prepare a market update for your area. In addition to St. Johns County our office covers Flagler, Putnam, Duval, and Clay counties. Now, let’s get started.


Monthly Supply of Inventory

Graph showing Months Supply of inventory at 3.21
St. Augustine FL Real Estate | December 2023 Months Supply of Inventory

First up, we have the Months Supply of Inventory. Currently, we're looking at 3.21 months of supply. This tells us how long it would take to sell all the homes on the market if no new listings were added. So, if you're a seller, this low supply means less competition and potentially a quicker sale for you. If you’re a buyer don’t panic. Over the last 12 months, the Months Supply of Inventory has increased by 0.63%. This increase is actually a good sign for buyers. It means more homes are being listed, providing you as a buyer with more options to choose from.


Graph showing the difference between a buyers and sellers market
Buyer's Market vs. Seller's Market

List to Sold Price Percentage

graph showing list to sale price percentage at 97.22%
St. Augustine Real Estate | Dec '23 List to Sold %

The list to sold price percentage currently stands at 97.2%! This means sellers in our market are getting almost their entire asking price. It's important to note that this percentage reflects the overall market, and individual properties may vary; however, this number shows the strength of our local market and the value that buyers see in the properties here in St. Johns County.



Median Days on the Market

Graph showing median days on market at 50
St. Augustine Real Estate | Dec '23 Median Days on Market

Currently, homes are spending an average of 50 days on the market before they are sold. Now, compared to some other areas, this is considered a speedy sale. Buyers, this means you'll have to act fast when you find that perfect home. And sellers, it's a clear indication that our market is hot and in demand!



Median Sold Price

Last but certainly not least, the number that most people are interested in, the Median Sold Price. For the St. Johns County area, the median sold price stands at an impressive $490,000. This figure represents the midpoint of all the sold homes in our area. It's crucial to understand that this is not the average price, but rather the midpoint, with some properties selling below and others above this figure. However, it's a great reference point for both buyers and sellers to gauge the market's overall health. Our median sold price is a testament to the incredible value and quality of homes in St. Johns County. It's truly an investment that pays off.


Graph showing median sold price at 490,000
St. Augustine FL Real Estate | December 2023 Median Sold Price

So What Does This Mean For Buyers and Sellers?

Infographic showing St. Augustine December Real Estate Market Update
St. Augustine Real Estate | Dec 2023 Real Estate Market Update

As we wrap up this market update, I want to remind you that these numbers are based on current data and trends. Real estate is constantly evolving, and it's important to consult with a professional to get personalized advice based on your unique situation. If you're thinking of buying or selling a home in St. Johns County, Florida, remember that the agents at First Coast Realty are here to help you navigate the market with confidence. Please feel free to reach out to us at the contact information provided below. We look forward to assisting you in achieving your real estate goals.



 

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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