Davidson Realty, Inc.

Davidson Estate Services is Here for You

June 15, 2023

 | 
Posted by in News, Northeast Florida Market Trends

Did you know that according to The National Association of Home Builders, Florida accounts for the country’s largest stock of second homes (1.04 million), with 10.8% of all second homes residing in The Sunshine State?

 

For those who don’t call Florida home year-round, taking care of a second home can be quite a hassle. From unforeseen maintenance issues and repairs to routine care, knowing your home away from home is in good hands can help ease peace of mind. Enter Davidson Realty’s all-new Estate Services, offering reliable assistance keeping properties secure and well-cared for even when the homeowner is away.

 

Read more

Comments currently closed.

Northeast Florida Market Update | April 2023

May 23, 2023

 | 
Posted by in News, Northeast Florida Market Trends

“Intelligence is the ability to adapt to change.” Stephen Hawking

 

The real estate market has given us an incredible opportunity to adapt to change over the last few years.

 

The Northeast Florida Association of Realtors market stats for April show a slight increase in prices of homes, fewer closed and pending sales and a small increase in inventory.

 

The median sales price for April is $339,995 which is down 2.9% from last April and up 2.4% from March. In the National Association of Realtors first-quarter report, nearly seven out of 10 metro markets had home price gains.

 

Locally, active inventory of 5,938 homes is up 4.5% from March. Many of those homes are new construction and not completed. The supply of existing homes is very low because many homeowners with loans well below current mortgage rates are electing to stay in their homes.

Read more

Comments currently closed.

Northeast Florida Market Update | March 2023

April 20, 2023

 | 
Posted by in News, Northeast Florida Market Trends

“Your talent is God’s gift to you. What you do with it is your gift back to God.” Leo Buscaglia

 

Hope you had a wonderful Easter and are using your talents wisely.

 

The Northeast Florida Association of Realtors market review for March 2023 shows continued progress towards a more normal real estate market. The median sales price, closed sales, pending sales and inventory are up from last month, but days on market and months supply of inventory are down. All of these trends are positive for our market.

 

The median sales price for all types of properties in all 6 counties is $335,000 which is up 0.9% from the February median of $332,000. The headline for a Wall Street Journal article from March 27 is: “It’s a Tale of Two Housing Markets: East vs. West -With only one metro exception, the 12 major housing markets west of Texas saw price drops in Jan., while the 37 biggest metros east of Texas saw price increases.” This is a great reminder that real estate is very local and all the national headlines you see don’t always apply to our local market.

Read more

Comments currently closed.

Northeast Florida Market Update | February 2023

March 30, 2023

 | 
Posted by in News, Northeast Florida Market Trends

“Progress always involves risk. You can’t steal second base and
keep your foot on first.” – Frederick B. Wilcox

My favorite time of the year is coming, and I am so looking forward to the first baseball game of the season.

 

This is also the best time of year for real estate in the Northeast Florida area. Even with higher interest rates, the buyers have been busy. Closed sales are up in February, pending sales are up and prices are stable.

 

The median sales price for all property types in all 6 counties is $330,000 the same as January. The National Association of Realtors predicts median existing-home prices will be stable compared to the previous year for most markets with the national median home price decreasing by 1.6% in 2023 before regaining positive traction of 3.1% in 2024.

 

There were 1,954 closed sales in February which is up 24.1% from 1,574 closed sales in January. The 2,431 pending sales was up 7.7% from 2,257 in January. Nationally pending home sales improved in January for the second consecutive month.

 

The active inventory of 6,149 homes is up 2.1% from January giving buyers a better selection. However, due to increased sales the months supply of inventory dropped from 3.8 months in January to 3.1 months in February. Five to six months of supply is a balanced market.

 

We saw the frenzied housing market that lasted over a year and then fear set in for buyers and sellers with the drastic home mortgage interest rate increases and national media constantly talking about prices dropping.

 

The spring buying season is looking very promising with sellers now willing to list their homes helping to increase the market inventory. With the more stabilized market, buyers are taking a little more time to make purchase commitments making sure their home includes the features they desire.

 

If you are looking to buy a home or an investment property or sell your home, please give us a call. We would love to share our market knowledge with you.

 

Sincerely,

Sharon P. Davidson
President

Comments currently closed.

Northeast Florida Market Update

February 16, 2023

 | 
Posted by in News, Northeast Florida Market Trends

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”

Henry Ford

 

In the 2023-2026 Florida and Metro Forecast, Dr. Sean Snaith, the director of the University of Central Florida Institute of Central Forecasting said “The U.S. economy is either in or on the brink of a recession. Because of the forecasted shape of the recession: a gradual decline into recession and 12 or more months in the downturn followed by a gradual climb out of recession, we have dubbed the recession the Pasta Bowl Recession.” If you haven’t heard him speak, take the opportunity. He is very smart and very funny.

 

A few interesting predictions from the forecast are:

 

Real Gross State Product will mildly contract during the recession as growth will slow to -1.3% in 2023, turning positive in 2024 and accelerating in 2025 to reach 1.7% by 2026.

 

The unemployment rate was 2.9% in 2022. The recession will push up the rate to 4.6% in 2023, and to 5.8% in 2024, before easing slightly to 5.4% in 2025 and 5.0% in 2026.

 

Housing starts were 192,294 in 2022 with starts decelerating to 133,829 in 2023 and 134,755 in 2024 before ticking up to 149,920 in 2025 and 152,865 in 2026.

 

The Northeast Florida Association of Realtors (NEFAR) market stats for January 2023 show the median sales price is stable, closed sales are down, pending sales are up and inventory is up slightly from last month.

 

The median sales price of $330,000 is down 2.4% from December and up 3.4% from last January. There were 1,525 closings which is down 30% from last month and 33% from last year. This reflects the last several months of very low buyer demand.

 

There were 2,248 pending sales in January. This was the most since August of 2022. Nationally, pending sales increased for the first time since May.

 

“This recent low point in home sales activity is likely over,” said NAR Chief Economist Lawrence Yun. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

 

There were 3,451 new listings in January which is 32% higher than the previous month and 19% higher than last year. The active inventory went from 6,231 last month to 6,403. When you read how much inventory has increased, keep in mind how many of the new listings were absorbed. There is plenty of demand and the spring buying season looks to be warming up.

 

I love this time of year with March Madness coming, Baseball Spring Training starting and the real estate market getting back to a more normal rhythm. If we can help you with any of your real estate needs, please let us know.

Comments currently closed.
« Newer Posts   Older Posts »

Davidson Realty