Neptune Beach Real Estate Report: Despite record high sales prices, market shows sign of slowdown!

October 20, 2019

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It’s a mixed bag for Neptune Beach home sellers! While sales prices have reached a decade high in 2019, inventory is starting to grow and the market shows signs of a possible slowdown.  Get the scoop on what’s happening in the local real estate market from your Neptune Beach real estate experts – Killebrew & Company Realty!

Neptune Beach, Florida Real Estate Market Report, October 2019:





Neptune Beach Prices:

Let’s start with good news! Home sale prices in Neptune Beach have been rising for years and are currently up 12% since the same period last year. The current average home sale price in Neptune Beach in 2019 is $562,671.

graph of Neptune Beach Home sale price over decade

Neptune Beach Days on Market:

Prices may still be up but the days for homes to sell has been slowing down a bit as of late. Although there has not been much change form 2018 to 2019, days on market have been rising since June and reached 105 days in September!

graph of Neptune Beach Days to Sell

 

Neptune Beach Inventory:

Although Neptune Beach sellers are still in a comfortable sellers market with home inventory at just 5 months (6 months of inventory signifies a balanced market), this is quite a change from 2018, where the period to date was just 3 months.

graph of Neptune Beach Months of Inventory

 

Neptune Beach New Listings versus Sold Listings:

The most telling sign of changes to come lies here. Unlike 2018 where there was a very little gap in the numbers of newly listed homes versus sold homes, that gap is growing in 2019. As more Neptune Beach homeowners are listing, less folks are buying. Should this trend continue, the laws of supply and demand dictate a slowdown in the prices of Neptune Beach homes.

graph of Neptune Beach New listings versus Sold Listings

What does it all mean for your Neptune Beach home sale?

Well, if you’ve been waiting for the right time to get your Neptune Beach home on market, this would certainly be it! Prices are still sky-high, and while there’s no telling what prices will do next, one thing is for sure – this level of growth is unsustainable. Cash out while you can!

FIND OUT WHAT YOUR HOME COULD SELL FOR TODAY!


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