Market Snapshot: What You Need to Know-February 2021
The St. Johns County inventory of Single Family Homes, Townhomes, and Condominiums is currently very low. As of the end of February 2021 the inventory is 28.4% lower than February 2020. This is mostly due to our very fast rate of sale.
The biggest driving force behind our current market conditions come two categories: Days on Market and Months of Inventory. Homes are selling fast, on average in 38 days as opposed to this time last year at 82 days on market. At those current rates we have about 2 months of inventory left as compared the 6 months of inventory in February 2020.
Scarcity of inventory and high demand continue to drive prices higher. The average sales price in February 2021 was $389,933 which is a 12 % increase over February of last year. When looking at closed sales, countywide sales were up 13% as compared to the same period last year.
So What Does This Mean For Buyers and Sellers?
We are absolutely in a sellers market. Homes are selling at or close to list price and in less time. Is now the time to sell? Call First Coast Realty, Inc. for a complementary Broker's Price Opinion and find out. Buyers, interest rates are low now but economic experts expect them to start rising. Start your home search before rising rates and prices shut you out of your dream home. Call First Coast Realty today.
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 email@example.com