|
Jacksonville Real Estate Market Inventory Level |
Inventory Based on past 12 Months Sales |
Inventory Based on Past 30 Days Sales |
Pending to Active Ratio All Properties |
Pending to Active Ratio Distressed Properties |
| Jacksonville Real Estate Market (Non-Condo) | 12.87 | 18.73 | 18.63% | 37.50% |
| Jacksonville Real Estate Condo Market | 18.82 | 28.32 | 16.69% | 20.78% |
| Southside Jacksonville Real Estate Market | 10.34 | 14.81 | 18.13% | 41.46% |
| Mandarin Real Estate Market | 10.07 | 15.19 | 19.00% | 37.50% |
| Northwest St Johns County Real Estate Market | 11.95 | 21.74 | 20.00% | 39.52% |
| Northeast St Johns County Real Estate Market | 15.74 | 44.60 | 10.76% | 31.71% |
| Ponte Vedra Beach Real Estate Market | 21.46 | 35.53 | 9.38% | 56.41% |
| Jacksonville Beach, Neptune Beach & Atlantic Beach Real Estate Market | 19.49 | 22.00 | 13.84% | 43.18% |
The overall Jacksonville Florida real estate market has an inventory level of 12.87 months based on the past year. Based on the past 30 days of sales this level is currently at 18.73, down from 22 months just one month ago. This is an indicator that Jacksonville real estate market activity is picking up. We have seen the pending to active ratio go from around 14.5% a month ago to today's 18.73%, a healthy jump in current activity. This demonstrates that buyer are putting down contracts at a higher rate than they were. Although it's still a strong buyers market, it's moving closer to healthy territory than we have seen it in a long time.
The most balanced sub-market we see today is in the Southside Jacksonville area. Southside has an inventory level of just over 10 months based on the past year and 14.81 months based on the past 30 days sales. This is down from Southside Jacksonville's real estate market inventory that, just a month ago, was at 10.74 based on the past year and 21.76 months based on the past 30 days. This change in the 30 day inventory level represents a significant increase in home buying for this area. The active to pending ratios we see for Southside Jacksonville is up roughly 2% from a month ago for the overall Southside Jacksonville Real Estate Market. For distressed properties (Short Sales and Foreclosures) in the Southside Jacksonville Real Estate Market the pending to active ratio is up 5% from just a month ago. These numbers indicate more buyers are putting down contracts.
The sub-markets where buyers have the biggest advantage today is out at the beaches. Jacksonville Beach, Neptune Beach, Atlantic Beach and Ponte Vedra Beach are all demonstrating a real estate market that is highly weighted towards the buyers.
The Ponte Vedra Beach real estate market has seen the pending to active ratio go up in the past month from a low of 5.76% to 9.38%. An interesting note is that the pending to active ratio for Ponte Vedra Beach distressed properties has increased from 20.93% a month ago to a balanced 56.41% pending to active ratio. This indicates that although Ponte Vedra Beach has a very weak real estate market currently overall, in the area of Ponte Vedra Beach short sales and Ponte Vedra Beach foreclosures, it is now a balanced market, with no advantage to buyers! Buyers are apparently hungry for bargains in Ponte Vedra Beach. Remember, this is indicative of buyers getting off the fence and entering into contracts with sellers...we can not predict how many of these will go to closing. Inventory levels in Ponte Vedra Beach have remained steady for the past month based on the past year's sales. The inventory levels based on the past 30 days sales have gone down from 47 months to today's inventory level of 35.53 months. This indicates a pickup in the pace of Ponte Vedra Beach real estate sales.
For the Jacksonville Beach, Neptune Beach and Atlantic Beach sub-market, numbers have remained very steady in comparison today compared to a month ago. The pending to active ratio has gone up a little over 1% in the past month. The beaches inventory level based on sales for the past 12 months has remained almost completely unchanged. The inventory level based on sales for the past 30 days has dropped only 2 months of inventory since last month this time. This is an indicator that the Jacksonville Beach, Neptune Beach and Atlantic Beach real estate markets do not seem to be picking up as fast as some of our other sub-markets and the Jacksonville real estate market overall.
We will continue to follow this for you and let you know the conditions of the Jacksonville real estate market as they develop. For expert, reliable help from a team of real estate professionals who really understand the Jacksonville real estate market call us!
