Find Insider Deals for items perfect around the house and on the go– Every metric in the Northeast Florida Association of Realtors market statistics report for July shows the housing market shifting towards a balanced market.
July’s median for days on the market rocketed up 20% to 42 days and the active inventory of homes also shot up 11.6% to 7,897 homes, indicating that the market is more conducive to buyers. In Clay County, the July 2024 median price of single-family homes rose 2.5% to $369.000. The median number of days on the market fell 3.8% to 38. Month-to-month, closed sales decreased 17.6% to 259, pending sales plummeted 23.9% to 191, and new listings increased 13.6% to 501. Active inventory for the county rose to 1,156 homes, an 18.4% increase from June 2024 and showed 4.5-month supply. The Home Affordability Index slid down slightly 1.4% to 70.
In Putnam County, the July 2024 median price of single-family homes plunged to $214,000, a 16.4% drop from June 2024. A median of 34 days on the market reflected a 54.6% increase in the amount of time it took for homes to sell from the month before. Month-to-month, closed sales increased 20% to 48, pending sales dropped 13% to 40 and new listings rose 13.6% to 92. Active inventory also climbed to 252 homes, a 5.4% increase. Putnam County’s Home Affordability Index registered at 120.5, a 20.