What’s up in the NE Florida Real Estate Market for June 2023?

**June 2023 Jacksonville Real Estate Market Update**

Hey there, it’s Kevin Grant from Staged to Sell Realty, back with another monthly update on the local real estate market. I know many of you are curious about what’s happening in the Jacksonville area, so I’ve got some exciting news to share with you. Let’s dive right in and explore the latest trends and numbers for June 2023 in the Jacksonville real estate market.

**A Promising Inventory**

In June 2023, the number of homes available for sale in the nine-county area of NE Florida stood at 5,240. While this represents an increase compared to last year, it’s still relatively low when compared to pre-pandemic levels. However, there’s good news too—with a 16% increase since May, the market is showing signs of growth and recovery.

**A Surge in New Listings**

One of the most encouraging aspects of the current market is the influx of new listings. In June, there were 3,477 new listings, a 20% jump from May and a 13% increase from the previous year. The summer months are clearly heating up the market, providing a prime opportunity for buyers and sellers alike to make their move.

**Steady Closed Sales**

Although closed sales in June 2023 were lower compared to the previous year, they remained steady in comparison to May. A total of 2,138 homes were sold, indicating a resilient market that continues to show promising signs of stability.

**The Median Price**

The median price of a single-family home in June 2023 was $393,000, reflecting a modest increase of 2.1% since May. However, it’s worth noting that this figure is still 0.5% below last year’s prices. While we may be nearing the bottom of the market correction, it’s important to keep an eye on future trends to determine whether prices will start to rise again.

**Homes Closing Above List Price**

A noteworthy statistic that caught my attention is the percentage of homes that closed above their list price. In June 2023, a remarkable 16% of homes sold for more than the listed price. This demonstrates that by strategically positioning your property in the market, ensuring it looks its best, and addressing any potential buyer concerns, you can still secure an excellent price for your home. Additionally, homes with pools and attractive lots have been fetching even higher sales prices, proving that these desirable features continue to captivate buyers.

**The Seller’s Market Continues**

The current real estate landscape in Jacksonville remains a seller’s market, characterized by low inventory and robust demand. With a DOM (Days on Market) of just 32 days and a supply of homes lasting 2.5 months, it’s evident that this trend is set to persist for the foreseeable future. Stay tuned for more videos where I’ll delve deeper into these statistics and provide further insights.

When the time comes for you, your friends, or your family to buy or sell a property, remember that Staged to Sell Realty is here to assist you every step of the way. We pride ourselves on delivering the most effective marketing strategy in the industry, employing home staging to ensure your listing stands out from the crowd. Call us today to receive a complimentary market analysis, regardless of whether you’re buying or selling. With Staged to Sell Realty, your real estate goals are within reach.