Davidson Realty, Inc.

Jacksonville FL Real Estate Trends in October 2010

November 30, 2010

 | 
Posted by in Northeast Florida Market Trends

“Every problem has in it the seeds of its own solution. If you don’t have any problems, you don’t get any seeds.” Norman Vincent Peale

This quote should give you a hint about the northeast Florida market for October. The numbers aren’t a surprise since many lenders halted foreclosure sales in October and 54.8% of the North Florida closings in September were lender mediated meaning a short sale or foreclosure. Only 48.7% of the closings in October were lender mediated.

• The number of closings in October reported by the Northeast Florida Association of Realtors (NEFAR) was 968 down from 1,263 in September.

I believe the foreclosure issues accounted for most of the drop in closings. On a positive note, the closings year to date through October 2010 are 13,393 up from 11,817 year to date through October 2009 and 10,686 year to date through October 2008.

• The number of pending sales in October were 1,280, which was down from 1,385 in September and 1,496 in August. Pending sales year to date through October 2010 like closings are up over 2008 and 2009.
• The median sales price and the average sales price are both higher than previous months. Again, I think this may be due to less foreclosure sales. The median sales price is $142,550 for October. It was only $130,000 for September which is a nice increase. The average sales price is $173,892 in October which is up from $166,504 in September.

I thought you might like to see some details on the 4 zip codes in Northern St. Johns County where Davidson Realty is the most active. 

 

32092 (southern 210/World Golf)

32095 (Palencia/ Kensington/US-1)

32259 (northern 210/Julington Creek)

32082 (Ponte Vedra Beach)
October Single Family Closings

36

11

55

23
Average Price

$215,008

$236,118

$276,949

$558,056
Average Closings in each month for a year

59

15

78

35

 

I would love to be your trusted real estate advisor. If you have any questions about buying, selling or renting, please give me a call. Have a Happy Holiday season!

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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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