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JAX Market in Top 3 for Biggest Increase in Home Prices

By Siddharth Mariappan

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RealtyTrac’s 2016 Quarter 1 US Home Sales Report named Jacksonville one of the metropolitan areas with the biggest annual increase in median home prices. The report analyzed data from 125 metropolitan areas during the first quarter of 2016, and found JAX came in with the 3rd largest increase, a whopping 22% over last year.

The report also found that, overall, the March 2016 median sales price for condos and single family homes was $210,000, up 9% over February, and 11% over March 2015. That number is still 8% below the previous peak of $228,000 in July 2005.

The Report quoted one realtor’s assessment:

“With low available listing inventories, coupled with investors continuing to realize higher rental returns, many are anticipating continued sales price increases through the remainder of the year….Due to this high demand, many home buyers are finding themselves in multiple-offer situations, and often times paying higher than list price.”

If you’re considering selling your home, this may be the year to do it. Just give me a call at 904-570-1216 or email me at jonkbrooks@gmail.com for more information and a free market analysis.

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