August 2023 Data Shows Real Estate Sales, Prices Flat in 2023
An analysis of local real estate data by the Palm Coast-Flagler Regional Chamber of Commerce shows Flagler County’s real estate market has remained relatively flat in 2023. See below for 5 additional data points that Flagler County property owners, buyers and sellers should be aware of.
“August 2023 Flagler County real estate sales data confirms many aspects of Flagler County’s housing market remains flat, and in some cases declining in 2023,” said Greg Blosé, President & CEO of the Palm Coast-Flagler Regional Chamber of Commerce. “Looking back at the beginning of the year, data shows a similar median sales price ($365k), similar number of houses sold, similar time to contract and similar time to sale.”
Further analysis by the Chamber shows:
- The total number of closed sales has decreased 9% year-over-year.
- The total dollar value of real estate transactions in August 2023 decreased 11%, to approximately $118 million.
- The median sales price of single-family homes decreased slightly in August 2023 to $365,000, down 6% year-over-year.
- The “median time to contract,” which tracks how fast a home enters a sales contract from its listing date, was 41 days in August 2023. The “median time to sale” increased to 79 days in August 2023.
- The number of homes available to purchase increased to 896 homes in August 2023, which represents a healthy 3.8-month supply of inventory. It also represents a 46% increase from August 2022.
The above analysis is supported by the Flagler County Association of Realtors August 2023 Report, which can be found, in part, below.
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.