Davidson Realty, Inc.

September’s Jacksonville Real Estate Stats Show Stability and Hyper-Local Pricing Trends

October 29, 2014

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Posted by in News, Northeast Florida Market Trends

“An ignorant person is one who doesn’t know what you have just found out.” Will Rogers

This quote seems appropriate because I was really struggling and looking everywhere for good information to share with you because the Northeast Florida Association of Realtors Market Stats have been delayed due to some changes made in the reporting areas. This turned out to be a blessing because I discovered some reports in our Multiple Listing Service that I never knew existed and I got more familiar with the great reports by Florida Realtors.

There were 1,794 closings in September which is down some from the last few months, but 12% higher than the 1,606 closings last September. We have 8% more closings year-to-date than the same period in 2013. The Florida Realtors Stats show that about one third of these closings were cash which is interesting since there are fewer large investors active in our area.

There were 1,880 contracts written in September which is also less than the last few months, but 23% higher than the 1,534 pending last September. We have 11% more pending contracts year-to-date than the same period in 2013.

The average sales price of $205,405 and the median sales price of $169,900 are both up 6% over September 2013.

The real estate news is positive and the market is more stable than when we were seeing double digit price increases last year. We have seen new construction prices rising faster than the existing homes. Several builders have shared that they have seen a slow down in sales in the last few months possibly due to the price increases.

It is my opinion that the builder price increases are resulting in resale home values climbing. As a result, we have seen several neighborhoods where prices have increased causing a significant increase in resale inventory becoming available. Of course the increased inventory causes the prices to drop back down. Market pricing is still very volatile and very local.

There is much to enjoy this time of year with college and professional football, the World Series and early preparations for the upcoming holiday season. If Davidson Realty can assist you in any way, please let us know. (904) 940-5000

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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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