The Northeast Florida real estate market shows no signs of slowing down! Keep reading to learn why now is the perfect time to invest (and how Icon Realty can help manage your portfolio!).
Northeast Florida: Real Estate Marketing Booming
A six-month home supply is considered a “healthy market.” In April 2021, there was 1.2 month supply of homes in northeast Florida. For perspective, the same time last year saw a 3.6 month supply.
According to the Northeast Florida Association of Realtors, there were 9,544 homes on the market in April 2020. This year, that total shrunk to 3,991. (Again, for perspective: northeast Florida typically sees a stable range of 8,000-12,000).
Last year, there were 2,497 homes sold in April. This year, the total reached 3,177. On average, homes sold in 4 days (eight days faster than March). Last year, homes sold during the same period stayed on the market for 67 days.
As the Jacksonville Daily Record reports, sellers received an average of 96.4% of their listing price in April 2020. Now, just a year later, that average has increased to 99.4%. Perhaps most excitedly: Nearly 37% of homes sold above asking price!
The median sale price in April also increased approximately $10,000 from May, reaching $284,941 (representing a 14% increase from last April).
Need Real Estate Assistance?
Whether you’re looking to buy, sell, or simply rent out your current property, Icon Realty can help! Give us a call at (407) 569-ICON or fill out our convenient contact form today!