August Market Statistics for realMLS
The Northeast Florida housing market for Residential sales experienced a slight downturn for the month of August as compared to July for New Listings and Closed Sales. Average Days on Market also saw a slight decrease from 32 days in July to 29 days in August.
The Median Sales Price has increased by 14% compared to August of 2020 and the Percentage of List Price Received for August 2021 was 100%, a 2% increase from this time last year indicating we are still in a hot market.
Due to high sales prices and low inventory, the rental market has skyrocketed this year. Increased demand for housing, along with an improving economy, has competition for rental units soaring. The national median rent increased 11.4% in 2021 so far, according to Apartment List. This trend may be around for a while as buyer demand continues to outpace supply.