Davidson Realty, Inc.

Jacksonville FL Real Estate Trends in January 2011

February 23, 2011

 | 
Posted by in Northeast Florida Market Trends

 “The path to our destination is not always a straight one. We go down
 the wrong road, we get lost, we turn back. Maybe it doesn’t matter
 which road we embark on. Maybe what matters is that we embark.”
        — Barbara Hall

We have embarked on a new year and January is already proving correct many predictions of ups and downs in the real estate market during 2011. See the table below for the latest Northeast Florida Association of Realtors statistics.

 

Jan 2009

Jan 2010

Jan 2011
Pending Sales

942

1,148

1,396
Closed Sales

701

921

993
Days on Market Until Sale

109

102

120
Median Sales Price

$155,000

$132,700

$120,750
Average Sales Price

$201,832

$164,825

$153,361
% of Original List Price Received

86.3%

88.6%

86.1%
Inventory of Homes for Sale

16,690

15,443

13,198
Months Supply of Inventory

15.9

12.3

9.4

As you can see, pending sales, closed sales, Inventory of homes for sale and months supply of inventory are all showing positive trends. There are more sales each year and less inventory.

The median and average sales prices are declining. One major reason for this decline is that a staggering 59% of all closings in January were short sales or foreclosures.

If you take a 12-month average of the average sales price for the most current year, you will see it comes to $169,465 which when compared to the previous year of $179,057 shows a 5.4% decline in pricing. This method helps to smooth out the bumps in pricing each month.

If you know of anyone that would like to buy, sell, or rent a home, please give me a call. I would love to take great care of any of your referrals.

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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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