By St. Johns Citizen Newsletter

St. Johns County recorded fewer than 700 home sales in August for the first time in a decade, according to data from Redfin.

A total of 698 homes sold in August, a month typically considered the late peak of the buying season.

The last time sales fell below 700 in August was in 2015, when 577 homes sold. Since then, the number had consistently remained above that threshold, beginning with a jump to 712 in August 2016.

The market peaked in August 2020, with 931 homes sold—the highest in the dataset. But this past August marks a notable cooling, breaking a nearly decade-long trend of stronger late-summer closings.

The decline in sales coincides with a rise in housing supply. Inventory in the county rose to 2,876 homes, the highest level for any August since at least 2017, the earliest year data was available for.

Homes also remained in the listings longer this August. The median number of days on market was 85, meaning homes either sold or were removed from listings after nearly three months.

That figure is also the highest for any August since at least 2017.

Median listing prices have also edged down.

In August, the median St. Johns County listing price fell to $546,400—the third straight year of decline. That’s down from a high of $599,450 in 2022.

Still, prices remain well above the most recent low of $370,469 recorded in 2017.