When you meet a Realtor, one of the first questions is, "How is the market"? I get this question often asked, especially when I am traveling.
That's an interesting question and no straightforward response. The real estate market can be looked at in different ways; National, State, City, County, and Neighborhood. National provides an overall picture of the market. Each State, City, and County within the state may fluctuate from one to the other.
One way to predict the future of real estate is by looking at what's going on in today's market. The illustration below is a great way to predict the market.
We are seeing a slight shift in the market. Less of the frenzy of buyers lining up to see a home and offering more than the list price to win the bid. The market is stabilizing and is still a slight seller's market with only 2.4 months of inventory.
February single-family homes report compared to February 2022 was just issued by our local MLS - AINCAR (Amelia Island Nassau County Association of Realtors) Nassau County, Florida, just Northeast of Jacksonville.
I recommend contacting a local professional today and discovering what is happening in your area.
Please get in touch with me with your real estate questions or if you are considering moving.
Joanne Patience, Realtor, Watson Realty Corporation, Fernandina Beach, Florida. Serving Fernandina Beach, Amelia Island, Yulee, and Callahan.
Remember: “With Patience, Anything is Possible.”