As the market begins to stabilize, there are more options for homes at a (slightly) more affordable price point.
As the housing inventory shortage is beginning to ease, and sellers are realizing they’re going to have to adjust their expectations, especially in light of rising/volatile interest rates, we are seeing some more affordable single family homes being listed here in St. Johns County.
Let’s look at some numbers from the past 13 months. The median sale price in St. Johns County is over $500,000, but that number is trending downward since the beginning of the year. Active inventory is up, and as a result, we’re seeing fewer homes selling for–or over–list price. Year-over-year, the number of days a home spends on market is up significantly over the crazy times of last year, but since January, you can see that number is starting to come down again. That’s a good indicator of stronger sales activity.
We’ve still got a ways to go before the market truly stabilizes, but there is some good news for anyone looking for a single family below $400,000 in St. Johns County, Florida. Take a look at listings in these communities:
If you’d like more information about homes available in St. Johns County below $400,000, or at any price point, drop us a line below: