Jacksonville Real Estate Market Statistics
- Active Listings in the Jacksonville Real Estate Market (non-condo)today- 10,577
- Active Listings in the Jacksonville Real Estate Market, one year ago- 11,615
- Pending Listings in the Jacksonville Real Estate Market (non-condo) today- 1,762
- Pending Listings in the Jacksonville Real Estate Market, one year ago - 1,437
- Percentage of active listings that are distressed properties - 25.28%
- Percentage of active Jacksonville real estate listings that are straight resales - 63.29%
Jacksonville Real Estate Market Inventory Levels
- Months of Inventory in Jacksonville Real Estate Market today Based on sales for the past year - 13.05 Months
- Months of Inventory in Jacksonville real estate market, one year ago, based on sales for prior year - 11.28 Months
- Months of Inventory in Jacksonville Real Estate Market today Based on sales for the past 30 days - 20.9 Months
- Months of Inventory in Jacksonville Real Estate Market, one year ago, Based on sales for the prior 30 days, - 19.17
Jacksonville Active-to-Pending Ratios
- Active-to-Pending Ratio for overall Jacksonville Real Estate Market today- 16.66%
- Active-to-Pending Ratio for overall Jacksonville Real Estate Market, one year ago - 12.37%
- Active-to-Pending Ratio for straight resales in the Jacksonville Real Estate Market - 8.44%
- Active-to-Pending Ratio for Distressed Properties (Jacksonville Short Sales and Jacksonville Foreclosures) - 33.92%
Jacksonville Real Estate Market Sales Breakdown
- Percentage of Jacksonville Real Estate Sales past 30 days that were distressed properties - 45.71%
- Percentage of Jacksonville Real Estate Pendings that are distressed properties - 51.48%
- Percentage of Jacksonville Real Estate Sales past 30 days that were straight resales - 42.51%
- Percentage of Jacksonville Real Estate Pendings that are straight resales - 32.07%
- One Year Ago:
- Percentage of Jacksonville Real Estate Sales in the prior 30 days that were distressed properties - 17.49%
- Percentage of Jacksonville Real Estate Sales in the prior 30 days that were straight resales - 63.7%
A couple of the new trends I see are very positive. First, the number of listings are down. So it appears that sellers who don't have to sell may be starting to realize they need to wait this cycle out.
Another very positive trend is that the active-to-pending ratio is up to the highest level we've seen in a while and up more than 4% over last year at this time and is getting close to the 18.88% it was during the same week two years ago when the Jacksonville real estate market significantly healthier, although it was in a downswing. This also indicates current action.
The number of pendings are up from last year. This indicates that more buyers are starting to take action. On a very positive note, our pendings are only 160 below this time in 2007. Keep in mind, the pendings mean nothing if they don't ultimately make it to the closing table, something that can not be predicted accurately at this point. Active and pending numbers are a snapshot in time and indicate current activity are do not translate into closed sales. These numbers are also highly dependent on the information being put into the system correctly and the validity of the sales contracts behind the pendings.
Months of Inventory levels are still high, but remember they are based on historical numbers. The inventory numbers are calculated based on the past 12 months sales and past 30 days of sales, both of which have been weak which would keep the number higher. If we see closings start to happen at a higher rate, we should see the inventory based on the past 30 days trend down much faster than the inventory based on the past 12 months. If all of the pendings were to close in the next 30 days, the market would fall to an inventory level of only 6 months based on that 30 day period. That is how quickly we could see the Jacksonville real estate market turn around if the different factors were to fall into place.
If you are a Jacksonville home buyer who has been trying to decide if it is the "right time" to buy...don't sit it out until it's too late. Remember, after the seller's catch on to a shift, the dynamics will change radically. Get a good buyer's agent and get into the game. Let us know if we can help you!
