Both Closed Sales and New Listings were down in November compared to October 2021. The Median Sales Price, however, was on the rise and increased by 4% from the previous month. Days on Market remained relatively the same along with the Monthy Inventory. 

The most recent data from the National Association of REALTORS® reports the median single-family existing home sales price rose 16% in the third quarter of this year to $363,700, with all four regions of the country experiencing double-digit price growth. Builder confidence increased in November for new construction, surpassing analyst expectations and rising to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), the highest level since spring, despite persistent labor and supply chain challenges and a shortage of available lots. 

The take-away…It’s Still a Hot Market in Northeast Florida!