Davidson Realty, Inc.

Northeast FL Real Estate Trends for November – All Signs are Positive Going Into the New Year!

December 27, 2012

 | 
Posted by in Northeast Florida Market Trends

“You only live once, but if you do It right, once is enough.” Mae West

I am counting my blessings this holiday season and you are a blessing in my life. My parents are also a blessing. They are celebrating their 63rd wedding anniversary this month.

I wanted to share a few interesting things I learned at the Florida Realtors Economic Summit earlier this month.

• Thirty-one percent of transactions in Florida year to date through October were cash and 19% were international.

• The shadow inventory peaked in 2009 and has been declining since. This inventory is going out of the pipeline faster than foreclosures are coming in.

 • Florida Realtors’economist  John Tuccillo predicts the following  for 2013:

  • 1. Residential sales up 10%
  • 2. Prices (same sale index) up 5%
  • 3. Inventory will grow as the market improves. As prices improve, more sellers will place their homes on the market.

As to the Northeast Florida Association of Realtors Market Stats, pending sales are continuing their positive trend in November 2012 with 1,827 which is an increase of 48% over November 2011. Year to date we have 17% more pending sales than the previous year.

We had 1,428 closings in November 2012 which is 15% more than last November and we are up 5% year to date over the same period last year.

Properties were on the market an average of 107 days in November 2012 which is down 9% from 119 days last November.

Prices are continuing their positive trends even though the November median price of $131,000 is the same as last November. Year to date the median price is up 5.5% over the same period last year. The average sales price of $180,258 is 10% higher than last November and we are up 6.1% year to date over last year.

The inventory of homes for sale is down 32% from last November at 8,362 properties. The months supply of inventory is down 41% from last year at 5.1 months supply. We are still seeing a lot of investor activity and the lower price ranges have the least amount of properties available.

Of the November closings, 42.2% were lender-mediated. The traditional sales increased 27% over last November and the lender-mediated sales increased 0.7%.

Overall as we approach the New Year, all signs are positive as compared to 2011.

I truly appreciate your referrals to Davidson Realty and Davidson Property Management. I wish you a very Merry Christmas and a Happy New Year!

, , , , ,
(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