There’s no single housing market anymore — there are four. Cash buyers, buyers using financing, homeowners locked into low rates, and builders with unsold inventory are all playing by different rules right now. Knowing which group you fall into changes how you should approach buying or selling in St. Johns County.
Whether you’re weighing a move in St. Augustine, Nocatee, or anywhere else in St. Johns County, understanding which of these four markets applies to you is the first step to making a smart decision. Here’s what each one looks like, and what it means for you.
Cash Buyers: 1 in 4 Buyers Are Skipping the Loan
Home equity has put a lot of move-up buyers in a strong position. About 26% of existing home sales this summer were all-cash, according to the National Association of Realtors — roughly 1 in 4 buyers bypassing a mortgage entirely.
- For buyers: A cash offer with no financing contingency tends to stand out to sellers. You may see a faster close and more room to negotiate on price or terms.
- For sellers: A cash offer can lower the risk of a deal falling through, but that certainty sometimes comes with a lower number attached. Weigh the full offer, not just the absence of a loan.
Buyers Using Financing: Rate Relief Is Coming from Sellers, Not Lenders
If you’re planning to finance your next home, don’t count on rates dropping to make the decision easier for you. Many forecasters have actually raised their long-term rate outlook this year, according to Fannie Mae.
The upside: sellers are stepping in to help. Redfin data shows nearly half of May sales included a concession, like a rate buydown or closing-cost credit.
- For buyers: Instead of waiting on rates, ask for a concession that makes today’s payment work.
- For sellers: Build room for a concession into your pricing strategy from the start — it’s often what gets a deal across the finish line.
Rate-Locked Homeowners: Most Are Sitting Below 5%
About 2 in 3 homeowners have a mortgage rate under 5%, according to Federal Housing Finance Agency data.
That makes plenty of St. Johns County homeowners hesitant to sell, since their next home would likely come with a higher rate. Fannie Mae expects this lock-in effect to stick around another three to five years.
- For buyers: Fewer listings from this group, but the ones who do sell usually have a real reason to move — and tend to be more flexible.
- For sellers: Run the numbers on what your equity actually buys before ruling out a move. If you have an FHA or VA loan, ask about making it assumable; it’s rare, but a genuine selling point.
Homebuilders: More Room to Negotiate Than You’d Expect
New construction may be your best opportunity right now. Census data shows builders are sitting on more unsold homes than usual — enough to take nearly 10 months to sell at the current pace, well above the typical 4–6 month range. That’s pushing builders toward price cuts and rate buydowns.
- For buyers: This is where the incentives are. Bring your own agent and compare the full package, not just the sticker price.
- For sellers: Lean into what a builder can’t offer — mature landscaping, an established neighborhood, and a home that’s ready now instead of in eight months.
FAQs
Which type of housing market am I actually in?
It depends on whether you’re buying with cash, financing a purchase, sitting on a low rate as a current owner, or shopping new construction — each has its own rules for negotiating.
Is it a good time to sell my home in St. Johns County if I have a low mortgage rate?
It can still make sense if your equity supports the move you want to make, but it’s worth running the numbers with a local agent before ruling it out.
Are builders really offering better deals than resale homes right now?
In many cases, yes — builders have more unsold inventory than usual, which is leading to price cuts and rate buydowns worth comparing against resale options.
Bottom Line
Four different housing markets are running at once in St. Johns County: cash buyers, financed buyers, locked-in owners, and builders. Each one plays by its own rules, and the right move for one can be the wrong move for another.
If you are considering buying or selling in Northeast Florida, contact Danielle Fraser, P.A.
Call or text 904-907-4559 , email danielle@