Spring is in full bloom in Jacksonville
The Spring is doing well for the local Jacksonville housing market. Here are the April 2018 housing stats for the Riverside Avondale and Ortega community. We have some general information as well about my brokerage and how well we are as compared to our competition.
The April 2018 Housing Stats
Many sellers and builders are in a good position for financial gains. The economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week. A longer-term trend toward more new listings would be a good sign. A few homes here and there can make a difference.
Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months. New Listings in the Northeast Florida region increased 13.8 percent to 3,810. Pending Sales were up 10.6 percent to 2,998. Inventory levels fell 9.4 percent to 8,264 units. The April 2018 Housing Stats are similar to those from March, rising demand and falling inventory.
Prices continue to rise in Northeast Florida
Prices continued to gain traction. The Median Sales Price increased 9.3 percent to $218,500. Days on Market was down 16.0 percent to 63 days. Sellers were encouraged as Months Supply of Inventory was down 12.8 percent to 3.4 months. This winter and spring exhibited unseasonable weather patterns in much of the country.
As the seasons change to something more palatable, wages and consumer spending are both up, on average, which should translate positively for the housing market. Being quick with an offer is still the rule of the day as the number of days a home stays on the market drops lower. If that wasn’t enough for buyers to mull over with each potential offer, being aware of pending mortgage rate increases is once again in fashion. The trend is for higher prices in this area as the Jacksonville market moderates.
Strong Sales for Berkshire Hathaway in Riverside Avondale and Ortega
The following chart shows that the Metro office located in Avondale continues to dominate the sales in the area. This office has the most listings as well as the most and highest sales price for those listings. If you are looking to make a change in your career, talk with me about our success. Sure you can go elsewhere, but why would you? The clear leader of Riverside Avondale and Ortega is Berkshire Hathaway HomeServices Florida Network Realty. Call me to learn more about how you can join the best Real Estate group in Jacksonville.