Davidson Realty, Inc.

Jacksonville FL Real Estate Market Statistics – What to Know

April 28, 2010

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Posted by in Northeast Florida Market Trends

Almost every article I read about the Jacksonville FL real estate market compares the current month activity to the same month a year ago. When I try to understand what is happening in the current market, I am much more concerned with trends from the last few months than the percentage change from last year.

My favorite 3 trends from the Northeast Florida Association of Realtors market stats are:

1. The median sales price and the average sales price have increased.

The prices of St. Augustine FL homes and Jacksonville homes continue to show signs of stabilizing after falling for the last couple of years. The average sales prices for the NEFAR area for January, February and March were $162,752, $166,812 and $169,944.

The single family houses in St. Augustine in the 32092 zip code which includes the World Golf Village area had average sales prices for January, February and March of $214,288, $217,408 and $237,736. I think we will continue to see some ups and downs in pricing but the prices appear stable for now.

2. There is an increase in closed transactions.

There are so many obstacles to close a transaction lately between short sales, appraisal issues, and lender policy changes, I think closings tell us more about what is happening in the market. The closed sales for Northeast Florida tracked by NEFAR have increased from 910 closings in January to 1,449 closings in March.

It will be interesting to see what happens to the number of closings after June when the Homebuyer Tax Credits have expired. I expect to see fewer closings for a few months; however, the buyers seem to have more confidence in the market since prices have stabilized.

3. The number of pending sales is up dramatically.

Pending sales by Jacksonville Realtors have increased from 1,204 in January to 2,071 in March. That is a very large increase and shows the amount of buyer activity we are seeing  in our area.

I can’t predict the future of our real estate market, but these three trends are very encouraging.

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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.

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