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April 2023 Data Shows Home Price Gains Likely Here to Stay

An analysis of local real estate data by the Palm Coast-Flagler Regional Chamber of Commerce shows Flagler County’s real estate market continuing to stabilize. See below for 5 additional data points that Flagler County property owners, buyers and sellers should be aware of.

“April 2023 saw home prices continue to stabilize after nearly a year of significant increases,” said Greg Blosé, President & CEO of the Palm Coast-Flagler Regional Chamber of Commerce. “As expected, the local real estate market seems to be holding on to the gains in prices we’ve experienced over the past two years.”

Further analysis by the Chamber shows:

  1. The total number of closed sales has declined 13% year-over-year.
  2. The total dollar value of real estate transactions in April 2023 declined 7.8%, to approximately $118 million.
  3. The median sales price of single-family homes increased slightly in April 2023 was $375,000, up 2.5% ($10,000) year-over-year.
  4. The “median time to contract,” which tracks how fast a home enters a sales contract from its listing date, was 45 days in April 2023. The “median time to sale” declined to 90 days in April 2023.
  5. The number of homes available to purchase declined below 800 homes in April 2023 (777), which represents a healthy 3.1-month supply of inventory. It also represents a 157% increase from April 2022.

The above analysis is supported by the Flagler County Association of Realtors April 2023 Report, which can be found, in part, on the following page.

The Chamber will continue to provide facts and data to our members in the coming months. Tracking Flagler County’s real estate market is extremely important to the overall economic health of our communities and local governments.

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