Saint James City, FL 33956 housing market

What this means

• Valuation. Prices are 24% above what local incomes have historically supported (this area's pre-2020 price-to-income ratio).
• Prices. Home values are up 0.7% over the past year (U.S.: +1.2%), but still 21% below their 2022-23 peak.
• Supply. There are 36% more homes for sale than the 2017-19 norm and falling (−20% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (97/100; U.S.: 54): homes sell for about 6.2% below their final list price; 17% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 48% of the median household income (U.S.: 35%); it takes about $110k a year to keep the payment at 30% of gross pay. That includes about $2,827 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $314 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from hurricanes. Check insurance costs before buying.
• Outlook. Leaning up: likely −6% to +10% over the next 12 months (69% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −6.3% to +10.0% (80% range; middle estimate +3.0%), chance of a rise 69%, of a 5%+ drop 12%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

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