Market reports aren't complete until you've talked about home values. The chart below shows what the median home prices are for Jacksonville in 2007 and 2008, from January to the present. 2008 numbers are in red.
What does median home price mean? We'll use January as an example. $163,900 is the median home price (homes that sold) in January 2008, it represents the the price at which half of the homes sold are more expensive and the other half are less expensive. This gives you a general idea of where our values are. To really get an accurate number for your home though, you need to look at the homes that have sold in your neighborhood.
| MONTH | 2008 | 2007 | Difference |
| January | 163,900 | 175,000 | -6% |
| February | 167,005 | 187,490 | -11% |
| March | 179,950 | 181,000 | -1% |
| April | 173,000 | 189,900 | -9% |
| May | 178,627 | 191,750 | -7% |
| June | 180,000 | 194,000 | -7% |
| July | 165,000 | 181,500 | -9% |
| August | 162,500 | 177,000 | -8% |
| September | 155,000 | 178,095 | -13% |
| October | 152,500 | 179,900 | -15% |
| November | 144,950 | 174,000 | -17% |
| December | 157,000 | 175,000 | -10% |
2008 and 2007 grand total median home prices in Jacksonville, Fl
| Jan 2008 - Dec 2008 | 165,000 | -9% difference from 2007 |
| Jan 2007 - Dec 2007 | 181,092 |
Although these figures were taken from the Northeast Florida Multiple Listing Service, Information is deemed to be reliable, but is not guaranteed.
Also check out Jacksonville Florida Market Watch Updates
Pam Graham
904-910-3516
Vanguard Realty, GMAC Real Estate
3168 Highway 17,s
Orange Park, FL 32003
Licensed Real Estate Agent in Florida
Here's what Jacksonville Florida Real Estate in November 2008 looked like:
| Current # of listings available November 2008 | 5530 |
| Average # of sales per month (homes that went under contract not sold) | 521 |
| Ave days on market (under contract homes, not sold)- | 153.5 |
| Remaining # months inventory | 10.61 |
| Selling price % of list price (original list price) (these were homes that sold and closed in November 2008) | 86.34% |
I highlighted the current # of listings available in red because of the drastic change from October!
Continued at Jacksonville Florida Real Estate
These figures are based on residential homes (single family, town homes & attached). They exclude condos, commercial property and vacant land. Information is deemed to be reliable, but is not guaranteed.
Read also: Jacksonville Florida Real Estate: Market Watch October 2008 and 2007
Here's what Jacksonville Florida Real Estate in October 2008 looked like:
| Current # of listings available October 2008 | 7,468 |
| Average # of sales per month (homes that went under contract not sold) | 614 |
| Ave days on market (under contract homes, not sold)- | 134.67 |
| Remaining # months inventory | 12.16 |
| Selling price % of list price (original list price) (these were homes that sold and closed in October 2008) | 83.88% |
Continued at Jacksonville Florida Real Estate
These figures are based on residential homes (single family, town homes & attached). They exclude condos, commercial property and vacant land. Information is deemed to be reliable, but is not guaranteed.
Read also: Jacksonville Florida Real Estate: Market Watch September 2008 and 2007
We're bombarded by the negativity of why buyers should steer away from short sales, and in some cases I would agree, here's just a couple:
Of course there are more but that's not what this post is about. This post is about the buyers who don't know a great deal when they see one, panic and back out when the short sale has a green light( In one case the green light was given in a matter of just days).
I have 2 shorts sales where the sellers have done everything necessary to get this done. The lien holders (Taylor Bean and Whitaker and American Home Mortgage Servicing, formally known as Option One) have obviously have systems in place and get the job done. Within weeks T,B and W had a BPO ordered, come back and written short sale approval. Within days, yes days, AHMSI had a written short sale approval.
One home has had 3 contracts and the other has had 2 and in all 5 cases the buyers backed out, at no fault of the seller and lien holders. Talk about frustration. Here's been some reasons:
All these are legitimate reasons, but all should be researched before you put a contract on a home. I totally get buyers are cautious and they should be! This is one of the biggest purchases of most people's lives so you should proceed with caution...I repeat.....BEFORE you put a contract on a home.
A written short sale approval in days or weeks is a rare and precious event, many buyers wait months for a home that never gets approve.
The moral of the story is:
The last thing I want buyers to remember is, there are people and families behind that short sale who needs to sell and this is a very emotionally time for them as well. Be considerate and don't put a contract on their home if you're not serious to follow through.
Pam Graham
904-910-3516
Vanguard Realty, GMAC Real Estate
3168 Highway 17,s
Orange Park, FL 32003
Licensed Real Estate Agent in Florida
Current real estate market conditions for Jacksonville, Florida
Here's what Jacksonville Florida Real Estate in September 2008 looked like:
| Current # of listings available September 2008 | 7598 |
| Average # of sales per month (homes that went under contract not sold) | 607 |
| Ave days on market (under contract homes, not sold)- | 138.67 |
| Remaining # months inventory | 12.52 |
| Selling price % of list price (original list price) (these were homes that sold and closed in September 2008) |
Continued at: Jacksonville Florida Real Estate
Pam Graham
904-910-3516
Vanguard Realty, GMAC Real Estate
3168 Highway 17,s
Orange Park, FL 32003
Licensed Real Estate Agent in Florida
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