Davidson Realty, Inc.

The Northeast Florida Association of Realtors market stats for January also show very positive trends!

February 25, 2020

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Posted by in News, Northeast Florida Market Trends

The recent Florida Realtors Real Estate Trends summit had great speakers including Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Forecasting. Dr. Snaith said, “We’re in the 11th year of the U.S. economic recovery – the longest economic recovery in U.S. history – and there are no indications that’s going to end any time soon.”

 

“Florida’s economy is doing even better than the national economy as a whole and it has been since 2012. Our unemployment rate is down to 3.3%. Florida’s GDP (Gross Domestic Product) continues to grow faster than the U.S.’s GDP, and our job growth rate is almost twice the national rate. Florida’s population growth is solid – the birth rates are better than the death rates, so we’re making new residents faster than we’re losing them.”

 

Another great speaker was Florida Realtors Chief Economist, Dr. Brad O’Connor. He agreed with Dr. Snaith and said he anticipates a robust outlook for the state’s housing market. He said, “Overall, I think we can expect to see a similar amount of price appreciation over the coming year, at about 4%, and I think we’ll see a similar amount of growth in closed sales for 2020 at about 4%.”

 

The Northeast Florida Association of Realtors market stats for January also show very positive trends. Pending sales of 2,392 are up 7.6% over last January. Closings are up 4.2% and prices are up 11.1% for median sales price and 12.1% for average sales price.

 

The inventory of homes for sale continues to decline. There were 7,980 homes available in January 2020 which is down 15.2% compared to 9,412 homes at the end of January 2019. The months supply of inventory is at 2.9 months which is down 21.6%. Hopefully we will see more new listings come available from resales and new construction.

 

It is a great time to sell your home with the shortage we are seeing of available homes. If you are considering a move to something larger, something smaller or something newer, please let me know and we would love to help you make your dreams a reality.

 

February is a great month to live in Northeast Florida and we have The Players coming in March. Throw in a little March Madness and baseball spring training and it doesn’t get much better.

 

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About 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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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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