Jacksonville Florida Real Estate: Market Watch May 2008 & 2007

Current market conditions for Jacskonville Florida

Here's what Jacksonville Real Estate in May 2008 looked like:

Current # of listings available May 2008	7525
Average # of sales per month (homes that went under contract not sold)	717
Ave days on market (under contract homes, not sold)-	112.88
Remaining # months inventory	10.50
Selling price % of list price (original list price) (these were homes that sold and closed in May 2008)	88.79%

Here's what Jacksonville Real Estate in May 2007 looked like:

Current # of listings available May 2007	7251
Average # of sales per month (homes that went under contract not sold)	826
Ave days on market (under contract homes, not sold)-	121.83
Remaining # months inventory	8.78
Selling price % of list price (original list price) (these were homes that sold and closed in May 2007)	92.7%

These figures are based on residential homes (single family, town homes & attached). They exclude condos, commercial property and vacant land. It also does not include Jacksonville beach, Atlantic Beach or Neptune Beach. Information is deemed to be reliable, but is not guaranteed.

Not much change in May 2008, although I do notice that the numbers for 2008 are starting to close the gap with the numbers in 2007. This could show us a positive change for the real estate market in Jacksonville, however it will be at a slow gradual turtle pace. Given the fast upward swing of the real estate market in 2005, I can see how the turtle does beat the hare in the end!

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