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March 2024 Market Update for St. Johns County, Florida

Updated: Apr 20


a city background with a First Coast Realty for sale/sold sign
Real Estate Market in St. Augustine, FL-March 2024

Welcome to the Monthly St. Augustine Market Report for March 2024 from First Coast Realty Inc,  your dedicated source for local real estate information. In this month’s update, readers will find a comprehensive overview of the latest real estate trends and statistics, ensuring they remain well-informed and engaged in the market dynamics. Whether one is considering buying or selling, this report aims to provide valuable insights.


The geographical scope of this market update encompasses St. Johns County, FL, which includes prominent areas such as St. Augustine, St. Augustine Beach, Vilano Beach, Ponte Vedra, Ponte Vedra Beach, Elkton, Hastings, Nocatee, and several smaller regional areas. If your specific area of interest is not mentioned, please don't hesitate to reach out to us using the contact information provided below. We are readily available to prepare a customized market update tailored to your needs. Additionally, it's worth noting that our office extends its coverage to Flagler, Putnam, Duval, and Clay counties.



Month's Supply of Inventory: 

The statistics from March reveal a 4.09 Months Supply of Inventory, a slight uptick from the previous month's 3.64. While this indicates ample options for prospective buyers, it's imperative not to delay, as desirable properties may swiftly leave the market. Over the past year, the Months Supply of Inventory has increased by 13.3%, signaling a gradual shift towards a more balanced market beneficial to both buyers and sellers.

graph of St. Augustine Month Supply of Inventory
St. Augustine FL Real Estate | March2024 Months Supply of Inventory

Speedy Sales: 

graph of St. Augustine List to Sold Price Percentage
St. Augustine Real Estate | Mar '24 Median Days on Market

With a median days on market of 49, a significant decrease from the previous month's 65, homes are selling at a remarkably brisk pace within our area. This swift turnaround underscores the high demand and desirability of properties in St. Johns County.





List to Sold Price Percentage: 

Graph of St. Augustine list to sold price percentage
St. Augustine Real Estate | Mar '24 List to Sold %

Currently, the List to Sold Price percentage stands at 97.6%, mirroring last month's figures. This stability suggests that homes continue to sell close to their listing price, underscoring the importance of strategic negotiation for buyers seeking to secure their ideal property.



Median Sold Price: 

The median Sold Price in St. Johns County stands at $490,000, reflecting the overall value of properties in our region. While this figure represents the midpoint of all sold homes, it's essential to note that it serves as a reference point for both buyers and sellers, offering valuable insight into market trends and conditions. Notably, this figure has experienced a modest increase of approximately 8% compared to the previous month, aligning with established seasonal patterns.

graph of St. Augustine median sold price
St. Augustine FL Real Estate | February 2024 Median Sold Price

So What Does This Mean For Buyers and Sellers?

St. Augustine Real Estate Market Update
St. Augustine Real Estate | Mar2024 Real Estate Market Update

In conclusion, whether you're embarking on the search for your dream home or contemplating a strategic sale, the current market conditions in St. Johns County present opportune moments for both buyers and sellers alike. As we conclude this market update, it's crucial to acknowledge that real estate dynamics are constantly evolving. Therefore, seeking guidance from a knowledgeable professional is paramount to making informed decisions aligned with your unique circumstances.


At First Coast Realty, our team is committed to providing unparalleled support and expertise to help you navigate the market with confidence. Should you require further assistance or wish to discuss your real estate goals, please don't hesitate to reach out to us using the contact information provided below. Thank you for entrusting us with your real estate journey, and until next time, happy house hunting!



 

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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