Should You Be Concerned?

Let’s break it down.

 

Year-over-year, the median home sale price in St. Johns County has dropped 5.6%. In April 2024, the median sale price was $540,000. This April, it’s $510,000 — a $30,000 difference.

 
  
That’s a significant change and definitely worth paying attention to.

However, context is important.

 

Take a look at the rollercoaster from last year:

 

• March 2024: $494,500

• April 2024: $540,000 (a massive $45,500 jump in just one month!)

• May 2024: $530,000

• June 2024: $525,000

• July 2024 (Peak): $540,000

It’s normal for prices to peak in May, June, and July due to seasonality in the real estate market. 👉 Despite the year-over-year dip, prices are actually up 6.3% year-to-date in St. Johns County.

 

So, what does this mean?

 

We’re seeing an upward pricing trend so far this year — but it’s too early to say if that momentum will continue. The next few months will be key to determining whether we’re heading toward continued growth or a market correction.