Jacksonville, FL Real Estate Market Review: September 2022
By Thirdstone Properties LLC - Tuesday, October 25, 2022
Michael Braddock reviews the September 2022 real estate market data report from NEFAR (Northeast Florida Association of REALTORS) released on October 10, 2022.
The Median Sales Price and Price Per Square Foot for Duval County single-family homes were each down 1.5% for the month. The Median Sales Price in September was $335,000. Buyers saw favorable shifts with 19.7% of homes closing over list price, down 20.7% for the month. List Price Received was 97.4%, indicating a slight tick up in affordability.
There were 814 Closed Sales, down 19.6% from the previous month. Pending Sales continue to trend lower, down 16.4% for the month and 34.9% for the year. Active Inventory jumped 15.7% for the month to 2,565, an 80.6% increase for the year. Months Supply of Inventory is at 3.2, about the pre-pandemic average.
The benchmark fixed rate on 30-year mortgages topped 6% in September, its highest level since November 2008. As of October 12, 2022, the national average 30-year fixed mortgage APR was 7.09%.
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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