What are the market trends that defined the Nocatee housing market over the past year?

Tight inventory. Higher prices. Seller’s market. We hear these terms thrown around a lot when talking about the real estate market of late. But what does it really mean, at the local level in Nocatee? And what do the numbers actually say? 

Let’s take a look:

Tight Inventory

Since this time last year, inventory has dropped approximately 90% on the Duval County side of Nocatee, nearly 81% on the north side of Nocatee, and 84% on the south side.

Similarly, we see a reduction in the number of new listings hitting the market. New listings are down more than 53% on the Duval side, nearly 55% in the north and nearly 38% in the south.

As for the number of closed sales, those are down 50% in Duval, nearly 70% on the north side and nearly 50% on the south side.

Pricing

When it comes to pricing, the median sale price is actually down 1.5% on the Duval side, but up nearly 42% in the north and up nearly 16% in the south.

Lastly, if we look at median percent of list price received, we see some sales coming in at asking price or more (though keep in mind there are some new construction numbers in here that may skew the data one way or the other).

Fortunately, new Nocatee communities are coming online in the next year or so, but for the time being, it looks as if the market will continue to be competitive.

If you’re ready to buy or sell in Nocatee, or you’d just like an idea of what the market value of your home might be right now, drop us a note using the form below: