Welcome to the Monthly St. Augustine Market Report for July 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
Currently we have a 3.19 Months Supply of Inventory. Now, what does that mean exactly? Well, it tells us how many months it would take to sell all the homes on the market if no new listings were added.
Over the last 12 months, our Months Supply of Inventory has increased by 32.92%! But don't worry, this isn't a cause for concern. In fact, it's an opportunity for both buyers and sellers to make their move. It means it is easier for buyers now, than it was a year ago and it also indicates a growing demand for homes in our region, which is great news for sellers.
List to Sold Price Percentage
The list to sold price percentage is currently sitting at 97.6%. As of right now, sellers can expect to receive almost the full asking price for their homes. Buyers can also be confident in the market's stability.
Median Days on the Market
The median days on market in St. Johns County is 42. This figure represents the average time it takes for a property to sell from the moment it's listed on the market. In St. Johns County, that is less than 2 months! If you're looking to sell fast, this is a prime opportunity to get your property off the market swiftly.
Median Sold Price
The median sold price currently stands at $499,000. This figure represents the middle point of all the sold properties in our area. The St. Johns County market is experiencing stable growth, making it a great time to invest in St. Johns County real estate.
So What Does This Mean For Buyers and Sellers?
As you can see, St. Johns County's real estate market is thriving. With a growing demand, strong list to sold price percentages, and a relatively low median days on market, this is an exciting time for both buyers and sellers in our area. If you have any questions or need assistance navigating this thriving market, don't hesitate to reach out to us at First Coast Realty. We have the knowledge, expertise, and experience to guide you through all of your real estate needs whether it’s buying, selling, investing, or property management, we have an agent for you.
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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