Inventory Woes=Opportunity

Jacksonville continues to experience a shortage of inventory.  With only 3.5 months of inventory available for sale, buyers are struggling to find affordable homes and often are in multiple offer situations.  The shortage caused the median sales price to increase 11% over last year and 12% of sellers are getting above asking price. Additionally most homes are closing in about 2 months.  This translates to about 0-7 days on the market before a home has a contract.

What does it mean for you?

Sellers: It is a seller’s market, making it a great time to put your home on the market! 

Buyers: Be prepared to move quickly when you see a property you like or it may be gone!

Click for NEFAR’s July 2017 stats on the Jacksonville market