Davidson Realty, Inc.

Jacksonville FL Real Estate Trends for December 2010

January 28, 2011

 | 
Posted by in Northeast Florida Market Trends

“A journey of a thousand miles begins with a single step.” Chinese proverb

I picked the quote this month because I am seeing some small positive signs in the Jacksonville real estate market. I don’t expect dramatic improvement, but single steps in the right direction will get us started on our journey.

My information comes from NEFAR which covers much of the Jacksonville MSA. The information I use by zip code comes from Metro Market Trends and is pulled from the County tax records.

Pending sales for 2010 were 17,040 compared to pending sales for 2009 of 15,111. There was a 12.8% increase in pending sales year over year.

There were 16,106 closings in 2010 compared to 14,525 in 2009 for a 10.9% increase. Just to put this in perspective 2008 had 12,604 closings and 2007 had 16,775 closings. As you can see the 2010 closings are pretty similar to what we saw in 2007.

The median sales price in December 2010 was $130,000 which is a 7.1% drop from the $140,000 median sales price in December 2009. If you break out lender mediated sales, the median price dropped 19.5%. By contrast, and for the fifth consecutive month, the median sales price for traditional sales increased, posting an 11.7% increase over December 2009. Lender mediated sales made up 54.1% of the closings in December 2010.

I apologize for the level of detail; however it is important to understand that even though the overall price is down, it is only down on short sales and foreclosures. The traditional sales that occurred have shown higher prices for five months.

The average sales price in December 2010 was $171,053 which is up .7% over December 2009 average sales price of $169,934.

The single family closings for 2010 in the 32092 zip code which includes World Golf Village averaged 53 homes per month. The December average price was $213,230 which is higher than the last 5 months. The same info for the 32095 zip code which includes Palencia is 14 homes per month with an average sales price of $226,311. The 32082 Ponte Vedra zip code averaged 34 single family home closings per month with an average sales price in December of $525,989. The 32259 zip code containing Julington Creek averaged 71 monthly closings and a December average price of $255,442.

I hope your business is seeing some positive trends as we are. Our business mainly comes from referrals and we truly appreciate any opportunity to offer any assistance to anyone you know.

, , , , ,
(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