Davidson Realty, Inc.

Northeast Florida Market Stats | November 2024

December 27, 2024

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Posted by in Northeast Florida Market Trends

“It is Christmas in the heart that puts Christmas in the air.” W.T. Ellis

 

Everyone at the Davidson Companies wishes you a Merry Christmas!

 

The November 2024 Market Review from the Northeast Florida Association of Realtors looks a lot like the October Review. The median sales price for all property types in all 6 counties is $350,000 which is down 4.1% from last year and up 1.4% from last month. The median sales price has remained stable all year.

 

There were 1,846 closed sales which is up 0.3% from last year and down 12.58% from last month. Pending sales of 1,502 are down 12.8% from last year and down 19.8% from last month.

 

Active inventory of 10,556 homes is up 74% from last year and 8% from last month. This is a huge increase but between 2012 and 2019 active inventory stayed in the range of 8,000 to 10,000 homes. This inventory level is being compared to very low levels after the pandemic.

 

Months supply of inventory is 5.37 months. Five to six months of inventory is considered a balanced market.

 

In summary, the sales price is stable. Sales and closings have remained low for the past 2 years. Inventory continues to grow. When mortgage interest rates were low, the inventory was low. As interest rates have stayed higher, inventory is growing.

 

I have listened to predictions from multiple economists recently from the Realtor Associations, the Homebuilders Association and several independent companies. Most economists are predicting mortgage interest rates to be near 6% in 2025. Even if short-term interest rates drop, they are not predicting large drops in mortgage interest rates.

 

Dr. Lawrence Yun, the NAR chief economist is predicting existing home sales to grow 7 to 12% in 2025 and new homes sales to grow 11%. A few economists are predicting smaller growth, and a few are predicting more.

 

Most of the economist are predicting median home prices to rise slightly. Dr. Yun is predicting a 2% rise in prices nationally. Some local markets will do a little better and some worse, but I haven’t seen anyone predicting large price decreases.

 

With the election behind us and a little more stability in mortgage interest rates, I expect 2025 to be a better year for the real estate industry.

 

Thank you for your support this year and please let me know if we can help with any of your real estate needs. Wishing you a wonderful 2025!

 

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Davidson Realty 2024 Gift Guide

December 13, 2024

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Posted by in News

Shop local for all your favorite people

The holiday season is upon us! And we here at Davidson Realty know that supporting our community is what helps us thrive as a community. You can make shopping even more special by supporting local businesses and artists, and it isn’t hard to do in Northeast Florida. Here in Jacksonville and St. Augustine, we have so many wonderful places to shop for everyone on your list — places that offer unique experiences, one-of-a-kind products and handmade items. With this gift guide, we make it easy to shop thoughtfully and to make a difference to our beloved small businesses.

 

For the host, hostess or person who has everything: Avondale Gift Boutique

A treasured gift shop open for over 40 years, Avondale Gift Boutique is an independent and family-owned establishment that specializes in unique gifts. Whether you’re buying for the friend who is always entertaining, for the family who loves games and puzzles or for the pet lover in your life, Avondale Gift Boutique truly has it all. Stationary and cards, housekeeping and kitchen products, beauty and wellness, candles, linens, jewelry and eyewear — and with free gift wrapping — you can cross off anyone and everyone on your list. Open Monday through Friday 10AM to 5PM and Saturday 10AM to 4PM. Shop at 3650 St. Johns Ave., Jacksonville, FL 32205 and shop online at www.agbjax.com.

 

For the kiddos in your life: Heyday!

This super cute and fun-filled toy store offers something for every kiddo — whether it’s arts & crafts they’re into, creative and inspiring science and STEM, vehicles and trains, cozy plush stuffies, books, clothes and more. They have gifts for all ages, from newborns to teens. Heyday! has the best stocking stuffers too, like putty and slime, Playtab toys that develop fine motor skills, the most award-winning scooter around, the Micro Kickboard and many toys made in the USA. Open Monday through Friday 10AM to 6PM, Saturday 9:30AM to 6PM, and Sunday 11AM to 4PM. Shop at 2016 San Marco Blvd., Jacksonville, Florida 32207 and order online for store pick up at heyday-toys.myshopify.com.

 

For the fitness buff or adventurer: Rock Climbing

Rocking climbing can be a fun thrill that boosts self-confidence and reduces stress. For the loved one in Jax, head to The Edge Rock Gym for gift cards redeemable for passes and memberships, rental equipment, classes and programs or retail purchases. Their gift cards are basically treated like cash! Day Passes are $19, and a one-month membership is $76. For those in the oldest city, head to Stone Climbing. A day pass is $22 and monthly memberships start at $87. Both gyms offer classes for yoga and climbing and have youth programs. Give the gift of climbing for an experience they’re guaranteed to enjoy.

 

For the beach bum, brewer or concert goer: ICEMULE Coolers

Known for quality, durability and portability, ICEMULE coolers are created to be carried on any adventure — and they’re based in St. Augustine! This hands-free cooler has a lifetime warranty and will quickly become the one you take anywhere and everywhere. With multiple sizes, in great colors and shapes, your food and drinks will stay chilled all day long. Shop online at icemulecoolers.com or find a local retailer at icemulecoolers.com/pages/where-to-buy.

 

For the home barkeep: St. Augustine Distillery

St. Augustine Distillery is a favorite for tourists and locals alike, making award-winning bourbon, rum, gin and vodka. Founded by local families and located in a historic ice plant in downtown St. Augustine, they offer free tastings and tours 7 days a week. Take a tour, have a tasting and do some holiday shopping at the bottle shop. They sell not only their delicious spirits but specialty mixers to create the perfect cocktail at home, like an Old Fashioned, Florida Mule or Bloody Mary — each made with real, quality ingredients. They have candles, apparel, pickles, BBQ sauce, and of course, the coolest barware. Stock the bar with copper mugs, tiki mugs, stainless steel double jiggers, Collins and rocks glasses, swivel spoons and so much more. Open every day from 10AM to 6PM. Shop at 112 Riberia St., St. Augustine, Florida 32084 or online at store.staugustinedistillery.com.

 

For the home chef, master griller or tea lover: The Spice & Tea Exchange

With three locations in Jacksonville and St. Augustine, Spice & Tea has a plethora of spices and spice blends to amp up any dish. They even offer infused salts, specialty honeys and sweeteners and teas of all varieties. Gift boxes are available, with handpicked favorite gifts, that offer the best of the best. Shop online at www.spiceandtea.com or find your closest location at www.spiceandtea.com/pages/find-store.

 

Merry Christmas and Happy Holidays from Davidson Realty (and happy shopping)!

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