Jacksonville Beach Real Estate Market Update

This week marks the official launch into the summer season, always the busiest time of year in the Jacksonville Beach real estate market.

In Northeast Florida we are seeing those typical spikes in inventory on the market. 

NEFAR has reported a 21% jump in inventory since last month.  With so much active inventory on the market, there has been an increase of median days on the market and months supply of inventory as well.  Below are NEFAR’s current numbers for Northeast Florida, along with statistical changes since last month.

Northeast Florida:

• 21% ⬆  active inventory: 7,586
• 4.9% ⬆ new listings: 3,602
• 0.3% ⬆ median sales price: $400,203
• 13% ⬆median days on the market: 34 
• 7% ⬆closed sales: 2,060
• 13.2% ⬆month’s supply of inventory: 3.7 months

These numbers tell the story of our region as a whole.  However, there is variability in each county.  Below are the numbers at a glance, according to each of our counties.

Duval County:

• ⬆Active Inventory: 3,281
• ⬆New Listings: 1,879
• ⬇Median Sales Price: $345,000
• ⬇Days on Market: 26

St. Johns County:

Clay County:

• ⬆Active Inventory: 999
• ⬇New Listings: 495
• ⬆Median Sales Price: $362,300
• ⬆Days on Market: 43

Interest Rates

The barrier of interest rates persists for buyers in the market.  The most recent meeting of the Feds kept interest rates unchanged.  According to Movement Mortgage, hope remains for the possibility of one or two rate cuts this year.  Inflation will be the determining factor. The Feds will make their decision on potential rate cuts based on upcoming inflation and employment reports.

Fluid Realty

The Fluid Realty Team is Jacksonville’s top real estate group and local boutique brokerage.  We provide a full-service experience with the best realtors in the area. Our expertise includes luxury beach real estate within the four Beaches of Jacksonville, FL: Atlantic Beach, Neptune Beach, Jacksonville Beach, and Ponte Vedra Beach.