September 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 remained stable in September 2023. See below for 5 additional data points that Flagler County property owners, buyers and sellers should be aware of.
“Despite high interest rates and low consumer sentiment, Flagler County’s real estate market remains stable,” said Greg Blosé, President & CEO of the Palm Coast-Flagler Regional Chamber of Commerce. “The median sales price of a single-family home in our region declined slightly to $355,000 in September 2023. However, sales activity was 20% higher than a year ago. More than 1/3 of those homes were cash sales, which indicates buyers are taking steps to bypass high mortgage rates and that competition continues to remain elevated in the Flagler County real estate market.”
Further analysis by the Chamber shows:
- Flagler County had 243 closed single-family home sales in September 2023, a 2% increase year-over-year.
- The total dollar value of real estate transactions in September 2023 increased by 2% year-over-year, to approximately $102 million.
- The median sales price of single-family homes decreased slightly in September 2023 to $355,000, down 2% year-over-year.
- The “median time to contract,” which tracks how fast a home enters a sales contract from its listing date, was 43 days in September 2023. The “median time to sale” increased to 92 days in September 2023.
- The number of homes available to purchase increased to 929 homes in September 2023, which represents a healthy 3.9-month supply of inventory. It also represents a 50% increase from September 2023.
The above analysis is supported by the Flagler County Association of Realtors September 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.
The full September 2023 data release from the Flagler County Association of Realtors is below: