May 2023 Market Stats for NE Florida

If you are anything like me, the topic of real estate comes up all the time. Hi, Kevin Grant here from Staged to Sell Realty with my monthly update on what is happening with the May 2023 Market Stats for NE Florida. Let’s dive right into the latest developments and key trends that you can share with your friends and family.

**May 2023 Market Stats for NE Florida: The Numbers**

In May 2023, the Jacksonville real estate market showed some interesting trends. Let’s start with the inventory. There were 4,792 homes for sale, which is slightly higher compared to the previous year but still relatively low, especially when compared to pre-pandemic levels. This indicates that the market is still experiencing a shortage of available homes.

Closed sales for the month stood at 2,113, which is lower compared to the previous year but showed a 10% increase compared to April. This suggests that despite the challenges, the market is steadily picking up momentum.

Now, let’s talk about the median price of a single-family home in May. It was recorded at $385,000, showing a slight decrease of 1.3% compared to the previous year. However, when compared to April, it exhibited a positive 4% increase, indicating a stabilization and balancing of the market.

**May 2023 Market Stats for NE Florida:Homes Sold Over List Price**

One particular statistic that caught my attention is the percentage of homes that closed over list price. In May, 16% of homes were sold above their listing price. This highlights an important opportunity for homeowners who are looking to sell their properties. By effectively preparing your home for the market, ensuring it looks its best, and addressing any potential buyer concerns, you stand a great chance of fetching a higher price.

Furthermore, homes with pools and desirable lots seem to be commanding even higher sales prices. So, if you have these features in your property, it could potentially translate into a lucrative deal.

**May 2023 Market Stats for NE Florida: The Market Outlook**

It’s important to note that the Jacksonville real estate market is still favoring sellers. With low inventory and strong demand, the seller’s market conditions are expected to continue. Although there is a notable influx of people moving to NE Florida, the higher interest rates are slightly tempering the demand. However, it’s crucial to understand that real estate remains a solid long-term investment in the Jacksonville area.

**Count on Staged to Sell Realty for Your Real Estate Needs**

When you or your friends and family are ready to buy or sell a property, Staged to Sell Realty is here to assist you. Our commitment to providing exceptional service and results sets us apart. We offer a proven marketing strategy with all of our listings, including the powerful technique of home staging. By showcasing your property in its best light, we attract more buyers and increase the chances of securing a great deal. Contact us at www.stagedtoselljax.com

Contact us today for a free market analysis, whether you are buying or selling. Our team at Staged to Sell Realty is dedicated to helping you navigate the May 2023 Jacksonville real estate market and make informed decisions that align with your goals. Let’s embark on this exciting journey together!