Published October 1, 2026 in Market Update

Sold at Asking in North St. Augustine, Then Paid $10,000 Back

By Ben Glynn

Real estate, Market Update MLS 32095

"We got asking price" sounds like a win. And in a lot of cases, it is. But in North St. Augustine, getting the number you wanted on the contract does not always mean you kept every dollar of it. I pulled every listing through October 2, 2026, and what I found changes how you should think about that line.

Getting to asking price is only half the deal

Nearly 1 in 3 sellers in this market paid money back to the buyer, even after agreeing on a price. That money goes back through the closing statement, usually as a credit toward the buyer's costs or repairs. The typical amount was $10,000.

It gets sharper than that. Ten homes sold at or over their asking price and still paid back $20,000 or more at closing. One home on Ness Circle sold for $557,000, at or over asking, then paid $23,530 back. The contract price and the money the seller actually walked away with were two different numbers.

The contract price is not the same as what you net. Buyers know this. They negotiate the price to get the home, then they use the inspection and the closing process to get the credit. Sellers who are not prepared for that second conversation often give up more than they planned.

New homes, older homes: the gap is real

Builders paid money back on 52.4% of new homes sold. That is more than half. The typical amount on a new home was $10,000. On older homes, 26.6% of sellers paid money back, and the typical amount was $7,470. New construction dominates this market, and builders use credits as a standard tool. If you are buying new, expect to negotiate on that line. If you are selling a resale home, buyers have seen what builders are offering and they will ask.

Right now, 58.8% of the 216 homes for sale have already dropped their price, with a typical cut of $30,000. That is before any closing credit conversation even starts. The market is sitting at 4.9 months of supply, which puts it between the range where sellers hold leverage and the range where buyers do. Neither side has a clear edge, which is exactly when the closing credit becomes the negotiating tool buyers reach for.

What this means for you, whether you are selling or buying

If you are selling, the number to watch is not just the offer price. It is what you keep after credits, repairs and concessions. The typical seller here gave back $10,000 at closing. Homes that sat longer gave back more: homes that took five to six months to sell closed at just 89.9% of what they first asked. Price it right from the start and you have less to negotiate away later. The 30-year fixed rate averaged 7.28% as of October 1, 2026, up from 7.03% the week before, according to Freddie Mac's weekly rate survey. Buyers feeling that payment pressure are looking for relief somewhere, and closing credits are where they find it.

If you are buying, the closing credit is a real and normal part of this market. More than 1 in 3 sellers paid one. On new construction, it was more than half. Ask for it as part of your offer strategy, not as an afterthought. Homes that sold in the first month closed at 99% of asking. Homes that sat over six months closed at 88.4% of what the seller first asked, and buyers in those deals had the most room to negotiate. Patience and a clear strategy matter more than the number on the sign.