Davidson Realty, Inc.

Update on Market Trends for October 2009

December 1, 2009

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Posted by in Northeast Florida Market Trends

Sherry DavidsonwebAfter reviewing the Northeast Florida Association of Realtors October Market Stats, I continue to see real estate in Jacksonville, FL stabilizing.

The pending sales in October are up 79% over last year, but that is misleading unless you put into context what the market was like last October. If you remember, the country was experiencing a financial market meltdown. The pending sales are good and improving every month. August pending sales were 1, 479, September was 1,535 and October was 1,729. That is a terrific trend.

The prices of homes in Northeast Florida seem to be stabilizing. The median sales price for August, September, and October were $149,900, $145,000, and $146,000. The average prices for the same months were $179,411, $175,108 and $179,205. The year to date average sales price is down about 20% from last year.

The inventory of homes available continues to decline, which is a good sign. The supply of inventory available is 11.5 months down from 12.5 months in September.

The number of closings for homes in St. Augustine in the 32092 zip code was up slightly from September; however the price per square foot was down slightly. I believe we will continue to see some ups and downs for several months to come, but it appears that overall the trends are positive.

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About the Author
Sherry Davidson
President of Davidson Realty

Since launching Davidson Realty in 1989, Sherry Davidson has built the firm to include nearly 60 agents and exceed $100 million in annual sales. She is known throughout the First Coast as an authority on all things residential real estate, having served on the Board of Directors for Northeast Florida Association of Realtors, Florida Realtors® (a division of the National Association of Realtors), and Builders Care (charitable arm of Northeast Florida Builders Association).

Thanks to Sherry’s leadership, Davidson Realty has been recognized as one of the state’s Best Companies to Work For (Florida Trend Magazine), as well as one of the region's Best Places to Work and 50 Fastest Growing Companies (Jacksonville Business Journal). Get to know Davidson Realty’s talented team of agents by clicking here or call us at (904) 940-5000.

Comments

  • Karen Palmer | December 2, 2009 @ 2:45 pm

    Thank you for the market stats. I hope this time next year we will be saying “remember when”, and we will just smile!

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