The beginning of the year opened slow but saw large gains when compared to January 2017.  The median sales price grew 16.6% from a year ago to $204,000.  The average sales price also grew with a 12.5% increase from last year to $244,795.  Inventory continues to be a problem with a 17.5% drop in listings resulting in just 3 months of inventory on hand.  The resulting inventory shortage continues to make Jacksonville a seller’s market with most listings selling in 70 days. Buyers in this market need to act quickly and present their best offer to be competitive.

Click to read NEFAR’s January 2018 stats for yourself

Riverside/Avondale: Inventory is tight with a 29% dip in new listings.  This resultied in a 13% increase in the median price to $278,750.

Murray Hill:  In an odd reverse of current trends, Murray Hill saw a 7% dip in its median sales price and a 15% increase in new listings. It is still a hot market, however, with 17% of properties selling above list price.

Southside: Listings increased 8% with the median sales price jumping up 28% to $195,000.

Follow my Facebook page for #marketstatmonday – Each week I highlight a new neighborhood and how its market is faring