End of Year Report: Jacksonville, FL New Construction Median Sale Price Per Square Foot (Jan-Nov 2023)

End of Year Report: Jacksonville, FL New Construction Median Sale Price Per Square Foot (Jan-Nov 2023)

Executive Summary:
In 2023, the median sale price per square foot for newly built houses in Jacksonville, FL showed fluctuations throughout the year. While there were slight increases in some months, there were also periods of decline. Analyzing the data reveals insights into trends, highs, lows, and quarterly averages. This report aims to provide a comprehensive analysis of the market performance in 2023 and offer insights for prospective buyers and sellers looking ahead to 2024.

Monthly Median Sale Price Per Square Foot:

MonthMedian Sale Price Per SF (USD)
January$209.46
February$210.09
March$214.24
April$214.94
May$218.42
June$213.72
July$218.23
August$208.51
September$212.02
October$218.90
November$215.73

Trends and Relationships:
The data illustrates a mix of upward and downward trends over the course of the year. Notably, there were peaks in May and October, while the lowest points were observed in August and January. These fluctuations suggest a degree of volatility in the market.

Highs and Lows:

  • High: May ($218.42 per SF)
  • Low: August ($208.51 per SF)

Monthly Percentage Changes:

MonthPercentage Change
February+0.30%
March+1.98%
April+0.33%
May+1.62%
June-2.15%
July+2.11%
August-4.46%
September+1.68%
October+3.26%
November-1.46%

Annual Average:
The annual average median sale price per square foot for newly built houses in 2023 was approximately $213.15.

Quarterly Averages:

  1. Q1 (Jan-Mar): $211.60
  2. Q2 (Apr-Jun): $215.20
  3. Q3 (Jul-Sep): $213.25
  4. Q4 (Oct-Nov): $217.31

Closing and Ending Figures:

  • Closing figure for November: $215.73 per SF
  • Ending figure for November: $215.73 per SF

Market Analysis and Outlook:
Based on the monthly changes observed in 2023, it was a mixed year for buyers and sellers in the Jacksonville new construction market. While there were periods of growth, particularly in March, May, and October, there were also declines, notably in August and June. Overall, the market experienced moderate growth, with an annual average increase of approximately 0.65% compared to the previous year.

For prospective buyers, periods of decline, such as those observed in August and June, may have presented favorable opportunities to enter the market at a lower price point. However, buyers should be aware of potential volatility and fluctuations in the market.

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