Davidson Realty, Inc.

Northeast Florida Real Estate Market Update

June 18, 2021

 | 
Posted by in News, Northeast Florida Market Trends

“Dad: A son’s first hero, a daughter’s first love.” —Unknown

 

I want to wish a Happy Father’s Day to every Dad because you are incredibly special.

 

The Northeast Florida Association of Realtors market stats show that new listings of 3,785 are up 12.7% over last May and we are up 1.9% year-to-date. The Northeast Florida Builders Association shows building permits through April of 5,170 permits which is a 45% increase over the same period last year.

 

While new listings and new construction is great news, the inventory of available homes continues to fall. There were 3,847 homes available for sale in May compared to 9,147 last May for a 57.9% reduction. There is 1.1 months supply of inventory available. A balanced market is 5 to 6 months of inventory.

 

The reason inventory continues to fall is the increased demand. There were 3,672 pending sales in May which is up 18.5% over last May. Pending sales are up 25.5% over the same period year-to-date. The 3,276 closed sales are up 37.2% over last May and 25.0% over same period year-to-date.

 

The median sales price of $290,000 is up 16.9% over last May and the average sales price of $363,044 is up 26.1% over last May. A staggering 41% of homes closed in May sold over their list price.

 

The median sales price in May by county:

Baker $264,900

Clay $277,500

Duval $260,000

Nassau $344,893

Putnam $156,000

St. Johns $415,000

 

Many of the builders are limiting their sales currently due to supply and labor issues. While we keep hearing about lumber shortages, the National Association of Home Builders reports that appliances are the biggest issue with lumber a very close second. A key reason for the appliance shortage is the computer chips, which most now require.

 

The market still favors sellers; however, with some persistence, many buyers are successfully getting the home they want under contract. If we can help you with a purchase or a sale of your home, please let us know.

 

Please save the date for our Davidson Cares Clay Day 2021. Our event is October 21, 2021 at Jacksonville Clay Target Sports.

 

Happy Father’s Day!

Comments currently closed.

CONGRATULATIONS TO OUR TOP PRODUCERS FOR MAY!

June 15, 2021

 | 
Posted by in News, Top Agents

I know you have seen all the news about how few homes are available and the market being an extreme seller’s market. I just want you to know how hard real estate agents are working right now to find buyers a home and get it under contract or helping sellers through the process of getting their home sold and closed. With that in mind, I want to recognize our Top Producers who have earned every accolade this month.

 

The Top Producer, Top Sales Agent and Top Listing Agent is Mirtha Barzaga. Mirtha had $3 Million in closings and over $2 Million in sales for the month. Her past customers and referrals helped her get listings in this market and give her buyer customers the confidence that they will find a great home.

 

 

 

The Top Producing and Top Sales Team is The Nemethy Group. Shelley and Tim Nemethy had almost $5 Million in sales for the month. The Nemethys have built their business on relationships and referrals which allows them to be a trusted resource for their customers. Even though they are top producers, they take great care of every customer.

 

 

 

Our Jacksonville Beach Team Top Producer and Top Sales Agent is Jennifer Todd. Jennifer knows the beaches but also helps customers from Amelia Island to St. Johns County. Her knowledge of new construction and the area serve her customers well.

 

 

 

If you have questions about your homes value or anything real estate related, please let one of our experienced and knowledgeable agents help.

Comments currently closed.

The Things You Might NOT Know About the Real Estate Market in Northeast Florida

June 3, 2021

 | 
Posted by in Ask Sherry, Neighborhoods, News, Northeast Florida Market Trends

The real estate market is notorious for its ups and downs, however, this real estate market is unique. Inventory is low, demand is high, and homes are FLYING off the market faster than ever! With so much uncertainty in this unprecedented market, it’s more important than ever to have a trusted real estate expert by your side to navigate the market.  Northeast Florida real estate expert Sherry Davidson, President of Davidson Realty, is answering some of the most common real estate questions from the community. 

 

How can I figure out how much my home is worth? 

Your home’s value is whatever the market is willing to pay. The market is changing very rapidly. It is in your best interest as a home seller to have a trusted real estate expert that knows the current market by your side to help you place a value on your home. Our team is selling homes daily and has the knowledge to ensure your home sells for TOP DOLLAR! 

 

Should I sell my home before buying a new one? 

The answer to this question has always been, YES! However, in the current real estate market conditions, the answer depends on your situation. If you sell, you need to have a rental home lined up or have the ability to live with family until you find your next home. If you put a new home under contract, you will probably not get a contingency to sell your existing home. You will risk losing your escrow deposit if you can’t close or you will have to acquire a bridge loan, extra savings, or a gift to close on the new home before you have the closing on your existing home.

 

Is World Golf Village expanding? 

With a few small exceptions, the only portion of World Golf Village not built out is Trailmark. There are new phases of homesites still becoming available in Trailmark.

 

What is the next go-to area to move to in Northeast Florida? 

There are so many incredible communities in Northeast Florida. However, Silverleaf is extremely popular right now. Silverleaf is located in highly desired St. Johns County, Florida, and just minutes from various shopping centers, beaches, golf courses, and entertainment.   The community will also be home to a first-class amenities center for residents to enjoy! 

 

If you are interested in buying or selling a home or have further questions about the market, contact Davidson Realty at (904) 940-5000.

Comments currently closed.

Real Estate Market Update

May 20, 2021

 | 
Posted by in News, Northeast Florida Market Trends

“You just can’t beat the person who never gives up.” Babe Ruth

 

If you want to buy a home in today’s market, you should listen to Babe Ruth. Most buyers are having to be persistent and make offers on several homes before they get a home under contract.

 

The Northeast Florida Association of Realtors market stats for April continue to show high demand for homes and limited supply which is causing price increases.

 

There were 3,615 pending sales in April which is up 52% over last April; however last April COVID was a factor in less contracts being written. The year-to-date numbers for pending sales are up 27% so you can see there is increased demand in the four-month period.

 

There were 3,177 closed sales in April which is a 27% increase month-over-month and 20% year-to-date.

 

The median sales price is $284,941 which is up 14% over last month and 12.5% year-to-date. The average sales price is $357,438 which is up 20.5% over last month and 18% year-to-date.

 

The most staggering statistic to me was the percent of properties sold over list price. For the properties that closed in April, 36.9% sold over list price. That is a 142.8% increase over April 2020. The average for the previous 12 months was 13.3% selling over list price.

 

On the supply side, there were 3,991 available homes for sale at the end of April which is down 58% from last April and there are 1.2 months supply of homes for sale. A balanced market is 5 to 6 months.

 

There may be better news coming to help with supply. A survey by Realtor.com indicated more sellers plan to put their homes on the market. Another survey by NerdWallet of 2,127 homeowners shows 1 in 6 (17%) plans on selling their home in the next 18 months. In fact, 45% of those planning to sell say higher asking prices and lower inventory have caused them to sell earlier than initially planned.

 

NAR Chief Economist Lawrence Yun predicts an increase in the 30-year fixed mortgage interest rate to an average of 3.2% in 2021. “As mortgage rates increase, the frenzied multiple-offer situation will become less prevalent by year’s end, as affordability challenges squeeze out some buyers and more inventory reaches the market,” Yun predicts.

 

“With more inventory and some easing in demand, home prices are expected to shift to mid-single-digit appreciation by the fourth quarter and in 2022,” Yun says. He predicts that:

· Median existing-home sales price will increase 7% in 2021

· Existing-home sales will grow by 10% as more homes reach the market

· New home sales will increase by 20%

 

These predictions are great news. In the meantime, if you are interested in buying or selling, please contact a Realtor with knowledge of the market. We would love to help you navigate these interesting times.

Comments currently closed.

5 Hidden Gem Neighborhoods in Northeast Florida Worth Visiting

May 17, 2021

 | 
Posted by in Community Involvement, Featured Neighborhood, Neighborhoods, Ponte Vedra, Restaurants

No matter where you explore in Northeast Florida you are bound to find beauty and interest. “Northeast Florida is richly diverse and provides residents a wide variety of activities, restaurants, and sites to enjoy and make wonderful memories. Each neighborhood has a unique culture that truly enriches the First Coast,” shares Davidson Realty President, Sherry Davidson. We’re sharing some new, some old, and some neighborhoods you may have forgotten about in Northeast Florida you need to check out! 

 

San Marco

Take a stroll along tree-lined San Marco Square and you’ll see there is no shortage of incredible dining, boutiques, and art galleries. The Mediterranean-influenced neighborhood which is just a few minutes from Downtown Jacksonville is a perfect place to spend an afternoon exploring. A few of our favorite spots to visit in historic San Marco are Grape and Grain Exchange, Aardwolf Brewing Company, Stellers Gallery, and Heyday!

 

Springfield

As the oldest neighborhood in Jacksonville, Springfield offers residents a historic and eclectic experience. Established in 1869, Springfield, located just north of Downtown Jacksonville, was home to the city’s wealthiest residents. Today, the neighborhood is filled with restored mansions, hip restaurants, and locally-owned shops. Springfield also hosts popular festivals including Porchfest. Be sure to make a pit stop at Strings Sports Brewery while touring Springfield. 

 

Riverside/Avondale

Antique meets modern in charming, historic Riverside and Avondale! Home to the world-class Cummer Museum of Art and Gardens, you won’t want to miss the charm and culture that Riverside and Avondale provide. Drive around the area and you’ll see gorgeous million dollar waterfront homes, locally-owned restaurants, and beautiful parks. Memorial Park, Pinegrove Market and Deli, and Kickback’s Gastropub are definitely places to visit in the area. Oh, and for dessert Whit’s Frozen Custard. 

 

Ponte Vedra Beach

If you have visited Ponte Vedra Beach before, you likely only skimmed the surface of what this stunning resort town has to offer. Prior to becoming a prominent luxury town with world-class golf courses, Ponte Vedra was a pristine wilderness home to valuable minerals giving it the nickname “Mineral City.” Discover Northeast Florida’s natural beauty with a hike at the GTM Reserve or play at TPC Sawgrass, one of the most famous golf courses in the world. Head to Ponte Vedra for date night and try LuLu’s Waterfront Grille or 3 Palms Grille.

 

Nocatee

Perhaps one of the newest go-to areas in Northeast Florida is Nocatee. Although this master-planned community hasn’t been around long, it’s definitely worth visiting! Enjoy lunch at Treylor Park (we suggest the Ahi Tuna Flatbread or the Treylor Park Nachos Grande!) or Timoti’s Seafood Shak before heading to Makk Fashions or Really Good Beer Stop. With new businesses popping up all around Nocatee, you’ll likely have more places to try each time you visit. 

 

Although all these neighborhoods have their own unique flair, one thing reigns true whether you call St. Augustine, Jacksonville, The Beaches, or anywhere in between home… Northeast Florida is the PERFECT place to live! 

Comments currently closed.
« Newer Posts   Older Posts »

Davidson Realty