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Median price for a home in St. Johns County now over half a million

According to the Northeast Florida Assoc. of Realtors, the median price in March for a single family home in St. Johns County was $558,700

ST. JOHNS COUNTY, Fla — The median price for a home in St. Johns County is now more than half-million dollars. And still, it is one of the fastest growing counties in the United States.

The median price for a single family home in March was $558,700 according to the Northeast Florida Association of Realtors.

That's up almost 16 percent over the month before. And it’s about $200,000 more than Duval and Clay counties.

This means if a family puts down 20 percent of the cost and gets a 30-year loan with an interest rate of 5 percent, the monthly mortgage would be $3,035.

And if they’re going to spend the suggested 30 percent of their income on housing, they’d have to make $121,400 a year.

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That is not the case for many people in the workforce.

According to U-S Census data, the median household income for a family in St. Johns is $77,323.

But still, the demand for a home in St. Johns County is high while the supply is low, even with all the new neighborhoods being built and approved at rapid rates. 

There was a 7.2 percent drop in houses on the market from February to March in the county.

"We have a low inventory problem," Realtor Kathleen Floryan in St. Johns County said.

“People can’t find a house to buy, and if they find a house to buy, they’re getting what I’m calling buyer exhaustion. Which they’re exhausted trying to find something and fighting for the property," Floryan said. 

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