St. Augustine, FL
Housing Market
St. Augustine's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into St. Augustine's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellSt. Augustine Housing Market Overview
The St. Augustine real estate market shows cooling conditions. Median home prices in the city have declined by 9.1% year-over-year. At present, they sit at $475,000. Properties stay on the market for 58 days before going under contract. Meanwhile, only 37 homes were sold in recent months, a 28.8% decrease from last year. All signs point to a market with slowing demand.
Nevertheless, St. Augustine's housing market offers distinctive options for diverse buyers. You can find beachfront condos, historic Spanish colonial homes, and luxury waterfront properties here. The city is now facing price adjustments after an overheated market period. Despite these corrections, St. Augustine maintains its appeal. With pristine Atlantic beaches and vibrant cultural attractions, St. Augustine attracts those who value its blend of Florida sunshine and European architecture.
Nevertheless, St. Augustine's housing market offers distinctive options for diverse buyers. You can find beachfront condos, historic Spanish colonial homes, and luxury waterfront properties here. The city is now facing price adjustments after an overheated market period. Despite these corrections, St. Augustine maintains its appeal. With pristine Atlantic beaches and vibrant cultural attractions, St. Augustine attracts those who value its blend of Florida sunshine and European architecture.
Median Sale Price
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St. Augustine Housing Supply
St. Augustine attracts real estate investors due to its vacation rental potential. The city's tourism appeal and retirement-friendly climate also draw seasonal homebuyers. At present, the number of homes for sale in St. Augustine stands at 387 properties, which is a 9% increase from last year. This includes 89 new listings. As inventory grows, buyers have substantially more choices. Moreover, St. Augustine's housing supply sits at 10.5 months, making the market favorable to buyers.
Housing availability in St. Augustine follows seasonal patterns. More homes enter the market during spring and summer. In these months, buyers hope to secure properties before winter sets in. St. Augustine offers a range of options, from beachside communities to historic districts. Anastasia Island, Davis Shores, and downtown attract diverse buyers. St. Augustine houses in these areas maintain value despite market adjustments. At the same time, buyers should leverage current conditions when house hunting. Before you make an offer, inspect properties thoroughly. Look for negotiation points and request seller concessions when possible.
Housing availability in St. Augustine follows seasonal patterns. More homes enter the market during spring and summer. In these months, buyers hope to secure properties before winter sets in. St. Augustine offers a range of options, from beachside communities to historic districts. Anastasia Island, Davis Shores, and downtown attract diverse buyers. St. Augustine houses in these areas maintain value despite market adjustments. At the same time, buyers should leverage current conditions when house hunting. Before you make an offer, inspect properties thoroughly. Look for negotiation points and request seller concessions when possible.
# of Homes for Sale
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St. Augustine Housing Demand
The St. Augustine, Florida, real estate market shows shifting dynamics. Only 5.4% of homes sell above the list price, while 28.4% of homes are selling below the asking price. The sale-to-list price ratio sits at 95%. This signals that sellers typically accept less than their asking price. The sale-to-list price ratio determines market dynamics, and at the moment, it strongly favors buyers.
As a home seller, you should price your houses conservatively from the start. This can help you attract buyers in a slowing market. You might need to adjust expectations given the limited above-list price sales. With increasing inventory, expect substantial price negotiation. To maximize your chances in these conditions, you could list your home on the Florida MLS. If you're buying a house in St. Augustine, make sure to leverage your advantage. The ample inventory gives you options, and you can secure significant discounts through patient negotiation. Also, consider properties with longer market times for better deals.
As a home seller, you should price your houses conservatively from the start. This can help you attract buyers in a slowing market. You might need to adjust expectations given the limited above-list price sales. With increasing inventory, expect substantial price negotiation. To maximize your chances in these conditions, you could list your home on the Florida MLS. If you're buying a house in St. Augustine, make sure to leverage your advantage. The ample inventory gives you options, and you can secure significant discounts through patient negotiation. Also, consider properties with longer market times for better deals.
Homes Sold Above List Price
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Strong
Buyer
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
St. Augustine Market: When to Buy or Sell?
The city's market generally aligns with trends in the Florida housing market, but with local variations. While St. Augustine home prices adjusted downward, seasonal tourism affects timing. When northern visitors arrive in winter, sales activity increases. When hurricane season approaches, the market slows temporarily.
With St. Augustine's housing supply at 10.5 months, the market strongly favors buyers, unlike the balanced US housing market. This means that buyers can take their time evaluating their options. On the other hand, sellers must stand out with competitive pricing and unique property features. Understanding these trends helps you time your purchase or sale. Monitor tourist activity for additional market insights.
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Frequently Asked Questions
How have the average home prices in St. Augustine, Florida, changed over the past year?
Home prices in St. Augustine, Florida, have decreased by 9.1% over the past year. It now sits at $475,000. To know your property's fair market value in this market, use our free home value estimator.
What are St. Augustine's real estate market predictions for the near future?
Prices may continue to adjust downward in the coming months. Demand will likely remain moderate with increasing inventory. Rising mortgage rates can affect affordability in this tourism-driven market.
What's the average home price in St. Augustine, Florida?
The average home price in St. Augustine varies by proximity to the beach and historic districts. Costs typically range from $294,000 for condos to $500,000 for single-family homes. If you want to buy a house, you can find cheap homes for sale in St. Augustine within your budget.
Is this a good time to buy a St. Augustine house?
Check St. Augustine real estate market trends for supply and demand insights. This helps determine if it's a buyer's or seller's market. Buyers benefit from falling prices and ample inventory. If you find the right property and plan long-term ownership, buying now could be advantageous.
What are the current St. Augustine housing market trends?
The St. Augustine, Florida, housing market shows buyer-favorable conditions. Properties stay on the market longer than in previous periods. Price reductions occur across most neighborhoods. If you want to buy or sell a house in St. Augustine, check the city's housing market trends to time your transaction.
When will the St. Augustine housing market crash?
Market forecasts suggest that a crash remains unlikely. Moderate corrections in St. Augustine home prices should stabilize the market without a dramatic collapse.
How to buy real estate in St. Augustine, Florida?
Start with a clear budget and mortgage pre-approval. Then search for St. Augustine houses for sale, make offers, secure loans, and complete the closing process.
How can I list my St. Augustine, Florida, houses for sale?
You can list your St. Augustine home with a Flat Fee MLS Florida listing service. High-tech MLS sites like Houzeo assign the right paperwork based on your location. 🚀
What is the average mortgage rate for buyers in St. Augustine?
The state-wide average mortgage rate fluctuates between 5.9% and 6.67%. Rates depend on market conditions and your credit score. Always check current rates with lenders.
What is the cost of living in St. Augustine, Florida?
St. Augustine's cost of living sits about 10.9% above the national average and 7.6 above the cost of living in Florida. Housing expenses remain the largest contributor; the median price currently sits at $475,000. Utilities cost more during summer months, while food prices rise during tourist seasons.Buyers find that the coastal lifestyle and historic charm of St. Augustine justifies the modest premium.
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