Davidson Realty, Inc.

The Northeast Florida real estate trends remain positive in September!

October 28, 2019

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Posted by in News, Northeast Florida Market Trends

The Northeast Florida Association of Realtors market stats show buyers are responding to the low interest rates available with pending sales of 2,396 for September. Pending sales are up 2% over last September
and 6% year-to-date. There were 2,500 closings in September which is up 7% month-over-month and 5% year-to-date.

 

The median sales price of $235,000 is up 8% month-over-month and 4% year-to-date. The average price of $272,154 is up 6% month-over-month and 3% year-to-date.

 

New listings of 2,963 are down 7% from last September, but we are almost even year-to-date. The inventory
of homes for sale dropped 12% from last September to 8,920 homes. The months supply of homes for sale dropped 15% to 3.4 months.

The Northeast Florida real estate trends remain positive. Pending sales, closings and prices are up and the available homes remains low.

 

Sean Snaith, director of University of Central Florida’s Institute for Economic Forecasting, expects Florida’s economy to grow faster than the U.S. economy over the next three years. In his third-quarter forecast, Snaith says “the fundamentals of the state’s housing market remain “solid” and economic and job growth and the influx of retiring baby boomers should continue to support the upward trend on sales.”

 

A Florida Realtors article “Work-From-Home Trend Changing the RE Market” discusses the increasing demand for home offices for buyers. John Burns Real Estate Consulting surveyed 23,000 new home shoppers and 30% said they worked at home one to four days a week and 13% work at home full time. The commute time for these buyers is less important and if their job moves, they don’t necessarily have to move. There may be new migration-pattern changes away from cities.

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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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