Published October 16, 2026 in Market Update

Higher rates did not stop well-priced homes from moving

By Ben Glynn

Real estate, Northern Saint Augustine

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. Nationally, that slowed things down. In North St. Augustine, the story read differently.

The Real Estate Data Aggregator counted 731 homes sold across North St. Augustine in the three months ending August 31, 2026. That is up 6.7% from the same three months in 2025. Sales rose even as rates climbed. That matters for both sellers and buyers.

The quick-contract number is the one to watch

Not every home sold fast. The median days on market was 72 days in one part of this area and 69 in the other. But a share of homes moved very quickly.

The Real Estate Data Aggregator shows that in 32092, more than 1 in 5 homes went under contract within two weeks. That share jumped 8.5 points in one year. In 32095, 14.3% did the same, up 1.9 points. Timing alone did not drive those results. Pricing did.

Inventory fell hard, and that changed the math

The Real Estate Data Aggregator counted 767 homes for sale across both areas combined. That is down 31.6% from a year before. Fewer choices for buyers means well-priced homes face less competition from other listings.

New listings fell 14.5% from a year before. Pending sales dipped 3.7%. Supply is tighter, not looser. That is a different picture than the national one Realtor.com described, where active listings topped 1.16 million homes nationally in September 2026.

Prices moved in opposite directions by area

The two areas in North St. Augustine are not the same market. The Real Estate Data Aggregator shows a 15.2% jump in median sale price in 32095, and a 2.7% gain in 32092. Both rose, but the size of the move was very different.

Both areas came in near 98% of list price on average, per the Real Estate Data Aggregator. Sellers are not giving much away. Homes that sold above list price also rose in both areas, up 2.2 points in 32092 and up 5.4 points in 32095.

What the national picture adds

Nationally, Redfin reported that the weekly average mortgage rate hit 7.4% on October 8, a three-year high. Redfin also reported that sellers outnumbered buyers by 62.6% in September nationally, and that estimated homebuyers fell to 928,892, the lowest since 2013.

North St. Augustine did not match that national slowdown in sales volume. The Real Estate Data Aggregator counted more homes sold here than a year before, not fewer. The tighter local inventory is one reason why.

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. The 15.2% gain in 32095 and the 2.7% gain in 32092 both sit in different places relative to that national figure. Local results vary, even street to street.

What this means for sellers

Inventory is down sharply. Buyers have fewer choices. That helps sellers. But the quick-contract numbers show that only the best-priced homes drew fast offers. The rest sat for 69 to 72 days at the median. Price is still the lever.

What this means for buyers

Rates are up. That is real. But the homes that are priced right are still moving fast, sometimes within two weeks. Waiting for rates to drop does not guarantee a slower market. Supply here is already tight.

These are area-wide numbers. One street, one community or one price range can read very differently from the ZIP code total. If you want to know where your home sits, that takes a closer look.