WHAT'S HAPPENING IN NORTHEAST FLORIDA

WHAT'S HAPPENING IN NORTHEAST FLORIDA

We are pleased to share with you this Real Estate Market Review for February, 2023. This month's Market Review continues to show significant changes in the real estate market from just one year ago! The Days on Market increased 243.3% from 15 Days in February, 2022 to 52 Days in February, 2023. The Active Inventory of 4,252 units for February, 2023 represents a 175.4% increase from February, 2022. The selling price as compared to the listing price decreased 72.8% from February, 2022 to February, 2023. For buyers, this means you will have more homes to choose from. Less bidding wars, which means you don't have to go above list price by thousands of dollars. For sellers, you are still in a good position to sell, and if your goal is to buy, there are more homes for you to choose from. Let us help you evaluate which home repairs you should tackle before you list your home for sale and what price point is ideal to ensure your home is priced competitively in this changing market. Examining trends from last month's statistics, the market outlook is brighter for sellers. The Median Sales Price increased from $363,000 in January, 2023 to $363,950 in February, 2023, the median days on the market decreased from 53 days to 52 days and the months supply of inventory decreased from 4.3 months to 3.4 months respectively. We at the Halle Perez Group continue to monitor the shifting Northeast Florida Market very carefully to ensure our Team provides you with accurate and up-to-date statistics and market trends. We are your trusted source to assist you with your real estate and wealth building goals!