Housing statistics for the northeast Florida / Jacksonville area continue to show a positive trend, with median prices and number of closed sales up year over year. One statistic that should be of interest to buyers, however, is the approximately 30% drop in inventory levels year over year. And this is not a number that’s isolated to northeast Florida. The folks over at KCM Blog also see an approximately 19.5% reduction in inventory nationwide.
Of course, this doesn’t mean we’re in a seller’s market. But it does mean that buyers should be prepared when searching for a home (i.e., pre-approved with a lender and having a clear idea of their “must haves” for a new home).
Download the full report from the Northeast Florida Association of Realtors.