Jacksonville, FL Real Estate Market Review: November 2022
By Thirdstone Properties LLC - Sunday, December 18, 2022
Michael Braddock reviews the November 2022 real estate market data report from NEFAR (Northeast Florida Association of REALTORS) released on December 10, 2022.
In Duval County, the median price of a single-family home fell 2.1% to $325,000 in November 2022. The median days on market increased to 40, approaching the pre-pandemic level. Inventory rose 5.7% to 2,738 homes. The Housing Affordability Index rose 2.6% to 79.
There were 1,221 Closed Sales for the month, down 27.4% from the previous month across Duval, Clay, and St Johns counties. This was due in part to seasonal effects and two hurricanes in October.
The benchmark fixed rate on 30-year mortgages peaked above 7% in October but returned to the mid-6s and ended November at 6.5%.
Disclaimer: This content has been prepared for informational and educational purposes only and is not intended to provide accounting, legal, tax, investment or other advice.
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