Davidson Realty, Inc.

Jacksonville Real Estate Trends: See What Happened in 2018!

January 29, 2019

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Posted by in News

 

The year end numbers from the Northeast Florida Association of Realtors show positive trends in 2018 compared to 2017. New listings were up 10% year over year. Pending sales, closings, median and average sales price are all up over 2017.

 

Pending sales are up 4.4% year over year and closings are up 1.9%. The median sales price of $226,243 is up 6.7% over last December and 8% year over year. The average sales price of $267,318 is up about the same.

 

 

The inventory of homes for sale of 8,414 homes is up 5.5% over last December; however, it is the lowest inventory available since January 2018. The months supply of inventory is 3.3 months which is the same as last December but the lowest inventory available all year.

 

As the federal government shutdown continues, most conventional loans are closing as usual. Many are facilitated by government-sponsored enterprises, such as Fannie Mae and Freddie Mac, but they are private companies and aren’t directly affected by the shutdown.

 

The single-family FHA loans are being funded, but not the FHA reverse mortgage product or the renovation loans.  The VA loans are closing. The exception is the U. S. Department of Agriculture isn’t approving new USDA loans during the shutdown. Flood insurance shouldn’t be a problem either.

 

A few interesting facts from the 2018 Profile of Home Buyers and Sellers Florida Report.

 

Homebuyers:

  • First-time buyers made up 24 percent of Florida homebuyers
  • The typical Florida buyer was 57 years old
  • 63 percent of buyers were married couples, 19 percent were single females, 8 percent were single males, and 6 percent were unmarried couples

Sellers:

  • The typical seller was 61 years old
  • Sellers typically lived in their home for 10 years before selling
  • Home sellers cited that they sold their homes for a median $41,500 more than they purchased it

 

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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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