Northeast Florida Housing Prices Continue to Soar

By Lucia Viti

Northeast Florida — According to The Northeast Florida Association of Realators, (NEFAR) housing sale prices continue to soar as inventory scrapes rock bottom and homes sell in record time, often for well above the asking price.

“December capped off an exceptional real estate market year in Northeast Florida.” said NEFAR President Mark Rosener. “Sales of all property types were brisk throughout the year, clocking in at nearly 38,000 properties sold for 2021.”

The Association says that while median sales have increased ever so slightly from November to December of 2021, they’ve increased 22% from December of 2020.

“The median sales price of all properties sold is at an all-time high of $323,900, although it appears that this may be showing signs of moderating as the December median sales price was virtually the same as it was at the end of November,” continued Rosener.

Rosenor added that inventory remains at a record low with a median time of 24 days on the market. Almost all sellers are receiving their asking price which is a 91% increase from a year ago.

Statistics show that in Clay County, the median price for single-family homes was estimated at $331,000 in December. This is a 27.8% increase since December of 2020. Clay County single-family homes spent a median of 22 days on the market and sellers received 99.9% of their asking price, with 30.4% of the homes closing at more than their listed price.

In Duval County, the median price of single-family home was $319,920, a 25.5% rise since last December. Duval County homes spent a median of 22 days on the market, with almost 95% of sellers receiving their asking price and almost 35% of homes selling at more than the asking price.

In St. Johns County, the median sales price for single-family homes increased by almost 25% to average $490,250. In December, homes spent 28 days on the market with all sellers receiving their listing price and almost 30% receiving more than their asking price.

In Ponte Vedra North, the median sales for a single-family home tallied at almost 2 million dollars; a jump of 38.8% since November of 2021. Homes spent an average of 33 days on the market with over 95% of sellers receiving their list price, and 16.7% of homes selling for more than their original market price.

In Nassau County, the median price of single-family homes in December was $380, 995, a 26.8% increase from the previous year. Median days on the market was 23 and 99.3% of all sellers received their asking price with 25% of the homes closing over list price.

“Whether someone is buying or selling, it has never been more important to get the advice to navigate the new normal of our real estate market in Northeast Florida,” Rosener concluded. “The pandemic has certainly impacted the seasonality of real estate sales and consumer behavior. Demand for homes remains strong. The millennial generation is getting to its prime home buying age, while investors are still active in our market and consumers from larger metropolitan areas keep looking to make Northeast Florida their home. I believe the spring market will see an uptick in available homes for sale to meet that demand.”

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