As we approach the end of the year, St. Augustine’s real estate market remains steady, showcasing resilience and ongoing interest from both buyers and investors. Here’s a quick update on the current trends and what they mean for the local market:
Current Market Conditions
Home Prices: The median home price in St. Augustine continues to rise moderately, reflecting sustained demand. As of October 2024, the median home price is hovering around $490,000. This slight increase compared to earlier in the year is mainly due to limited inventory and strong interest in the area.
Buyer Demand: Despite higher interest rates, buyer demand remains solid, particularly for single-family homes and properties near the coast or historic district. Many buyers from out-of-state are drawn to the area’s charm, coastal beauty, and history.
Inventory Levels: Inventory remains relatively low, which has created a competitive market for buyers. This favors sellers who are seeing multiple offers on well-priced homes. The average days on market for homes is around 45 days, but well-priced, move-in-ready properties are selling faster.
New Construction: New developments continue to pop up around St. Augustine, particularly in areas like St. Johns County, with new neighborhoods catering to both families and retirees. These developments are offering more choices for buyers looking for modern amenities while enjoying proximity to the historic downtown and beaches.
Seasonal Shifts: As we move into the cooler months, expect a slight dip in activity. However, the holiday season can bring serious buyers who want to finalize their purchase before the new year.
For sellers, this is still an excellent time to list your property. With inventory low and demand consistent, properly marketed homes are fetching good prices. For buyers, staying patient and working closely with your agent will help navigate the competitive market.
Halloween Fun – Caramel Apple Tip
It’s that spooky time of year again! If you’re looking for a fun and delicious Halloween activity, try making caramel apples at home. Here’s a quick tip to make them extra special:
Pro Tip: Add a Layer of White Chocolate Before Caramel
- Dip your apples into melted white chocolate first, letting the chocolate cool and set.
- Once set, dip the chocolate-covered apples into the warm caramel.
- This creates a layered effect that not only adds sweetness but also gives your caramel apples a gourmet look. You can then roll them in toppings like crushed cookies, nuts, or candy for extra texture and flavor!
Enjoy these Halloween treats while exploring all that St. Augustine has to offer during this festive season!