Davidson Realty, Inc.

November Trends in 2010 for the Jacksonville FL Real Estate Market

December 31, 2010

 | 
Posted by in Northeast Florida Market Trends

“Progress involves risks. You can’t steal second base and keep your foot on first.” Frederick B. Wilcox

This quote captures exactly how I feel about the real estate industry and our Company right now. I see some positive trends and I am planning to start 2011 ALL OUT which is defined as “using all available means or resources.” If we aren’t going to use our resources now, what are we saving them for? It’s time to round second base.

The positive trends in the Northeast Florida Association of Realtors Market Stats for November, 2010 are as follows:

                                      2010 year to date          2009 year to date            Percent change
Pending sales                       15,890                              14,013                                13.4+
Closed sales                          14,548                              13,143                                 10.7+
Days on Market                   103                                    108                                       4.4-

As you can see, Pending Sales and Closings are up year-to-date and the days on the market are down slightly. 

                                    Median sales price 2010                                  Average sales price 2010
September                          $129,950                                                                      $165,855
October                                $135,575                                                                      $168,857
November                           $140,750                                                                     $187,189

The median and average sales prices have risen the last two months. I believe the hold on some foreclosure sales has some influence on this trend. The November 2010 median sales price is down 3.2% over the November 2009 median sales price. The median price is up for normal sales, but has declined about 22% for distressed properties causing the 3.2% decline.

The months supply of inventory has dropped 24.6% from November 2009. It was 12.7 months and has dropped in November 2010 to 9.6 months.

I still expect ups and downs in the market. Unfortunately I believe there will be an increase in foreclosures before we see any improvement.  But the overall trends are heading in the right direction. It may not be the season yet for grandslams but we’re definitely due for more doubles.

Thank you for making Davidson Realty’s 2010 a success and helping us earn our spot as one of the most successful real estate companies in North Florida. I hope your Christmas was happy and I wish you a fantastic 2011.

, , ,
(0) Comments
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • email
  • LinkedIn
  • StumbleUpon
  • Twitter
  • Yahoo! Bookmarks
  • Yahoo! Buzz
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 are closed.

Davidson Realty