Davidson Realty, Inc.

Northeast Florida Market Stats | April 2024

May 28, 2024

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Posted by in News, Northeast Florida Market Trends

“A father doesn’t tell you that he loves you. He shows you.” —Dimitri the Stoneheart

 

Hope all of you wonderful Dads have an amazing Father’s Day in June. You have such a profound impact on your families.

 

The April 2024 market stats from the Northeast Florida Association of Realtors show continued stability in our prices. The median sales price for all property types in all 6 counties is $362,500 which is 0.7% higher than March and 6.6% higher than last year.

 

St. Johns County median price for all property types is $534,245. The single-family homes median price for St. Johns County is $600,000 which tops the record of $585,000 in July 2022. Just to compare the single-family median price in other counties:

 

Baker $305,000
Clay $352,000
Duval $ 345,500
Nassau $484,995
Putnam $244,950

 

There were 2,429 closed sales in April, which is down 3.7% from March and down 2.0% from last year. NAR Chief Economist, Lawrence Yun, commented at the recent 2024 Realtor Legislative Meetings that annual existing-home sales in 2023 experienced their worst year since 1995. The U. S. currently has 40 million more total payroll jobs and 70 million more people than in 1995. So far in 2024, monthly existing-home sales rates have struggled to climb above last year’s level.

 

Yun predicts that in 2024 existing-home sales will rise to 4.46 million (up 9% from 4.09 million in 2023) and 2025 existing-home sales will increase to 5.05 million (up 13.2% from 2024).
The pending sales for April of 1,876 is down 28.6% from March and down 30.4% from last year. The interest rates jumped back above 7% in mid-April and sidelined many potential buyers.
The good news is that inventory continues to increase. We had 8,463 active homes for sale in
April up 7.2% from March and 68.3% from last year. The buyers will have more choices as the peak selling season heats up.

 

Whenever mortgage rates go down a little, we see many more contracts coming in. When we see spikes in mortgage rates, like in April, the buyers put their plans on hold.
Congratulations to all the graduates and Happy Father’s Day to all of the dads! Please let us know if we can help you with any real estate needs.

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About the Author
Sherry Davidson
President of Davidson Realty

Since launching Davidson Realty in 1989, Sherry Davidson has built the firm to include nearly 60 agents and exceed $100 million in annual sales. She is known throughout the First Coast as an authority on all things residential real estate, having served on the Board of Directors for Northeast Florida Association of Realtors, Florida Realtors® (a division of the National Association of Realtors), and Builders Care (charitable arm of Northeast Florida Builders Association).

Thanks to Sherry’s leadership, Davidson Realty has been recognized as one of the state’s Best Companies to Work For (Florida Trend Magazine), as well as one of the region's Best Places to Work and 50 Fastest Growing Companies (Jacksonville Business Journal). Get to know Davidson Realty’s talented team of agents by clicking here or call us at (904) 940-5000.

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