Davidson Realty, Inc.

Northeast Florida Real Estate Market Update

December 16, 2021

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Posted by in News, Northeast Florida Market Trends

“God goes to those who have time to hear him—and so on this cloudless night he went to simple shepherds.” Max Lucado

 

 

At this holiday season, the Northeast Florida real estate market is still looking bright. The Northeast Florida Association of Realtors (NEFAR) market statistics show continued price increases and decreasing availability of homes.

 

The median sales price in November 2021 is $325,000 for all property types in all 6 counties. This is a 23.6% increase year over year and 4.8% higher than October 2021. In St. Johns County the median price is $450,000 for a 26.8% increase year over year. All predictions I have seen are for price increases to slow to single-digit increases next year.

 

There are 3,915 properties available in November 2021 which is down 31.4% year over year and down 14.7% from last month. There is 1.3 months supply of inventory which is down 33.9% year over year and 7.2% from last month. A balanced market is 5 to 6 months of supply.

 

Of the closings in November, 28.8% closed over list price. This number peaked at 40.6% of properties in July and has been dropping, but there was a slight increase from 28.3% last month.

 

There are many opinions on mortgage interest rates since the Federal Reserve announced Wednesday they will be shrinking their monthly bond purchases at twice the rate previously announced and forecasting to raise interest rates three times next year.

 

Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors said, “When inflation rises, lenders ask for higher interest rates as compensation for the decrease in purchasing power. Thus, if inflation remains elevated for a longer period, that will drive up mortgage rates.” She expects rates to rise to 3.5% next year. I have seen others predict 3.6% to 3.7%.

 

The supply of homes is expected to increase slightly in 2022; however, the demand should remain strong. More than 45 million millennials will be prime homebuying age, between 26 and 35, entering 2022 plus downsizing baby boomers and Generation Z buyers. We will have to see what effect rising mortgage rates has on demand.

 

For now, inventory remains low, demand is high and prices keep creeping higher. Please let us know if there is anything real estate-related we can help you with.

 

Happy Holidays and New Year! Thank you so much for your support and referrals during 2021.

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Legacy of Giving: Vallencourt Construction Company Supports Davidson Cares Clay Day

December 9, 2021

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Posted by in Community Involvement, Events, News

Since the very first Davidson Cares Clay Day, Vallencourt Construction Company has not only been a top sponsor but an incredible advocate for the annual event. 

 

“The Davidson Companies has a very long history working with Vallencourt Construction. We spent a lot of time with Mike Vallencourt, Sr. while the development of World Golf Village was underway. It is wonderful to work with a company with such amazing values. They do what they say they will do, always. Vallencourt Construction is extremely generous giving back to our community,” Sherry Davidson, President of Davidson Realty. 

 

Vallencourt Construction Company was established in 1945. With more than seventy years of experience, family-owned Vallencourt Construction Company provides clients an unbeatable value with their experience, strong workforce, and top-of-the-line machinery. The team at Vallencourt Construction Company continually seeks out new markets and projects. They believe this forward-thinking is critical to providing the best value to customers, opportunities for employees, and growth as an organization. Vallencourt has had a hand in countless projects over the years including RiverTown, Bannon Lakes, Beachwalk, and the Town Center Promenade.

 

Beyond their impressive list of professional successes, Vallencourt is passionate about doing good in the community just like the Davidson Companies. “Davidson Cares is a wonderful organization and we at Vallencourt Construction could not be happier to help support it through Clay Day. Clay Day brings people together to connect and have some fun while raising money for great causes that help to build up the youth in our community. Thank you to the Davidson family and all that you do!” Kyle Gammon, Chief Financial Officer for Vallencourt Construction Company. 

 

Both Sherry Davidson and Kyle Gammon serve on the Investing in Kids! Board and both have seats on the Finance Committee.  This shared dedication and love for serving have helped to create a legacy of giving. 

 

Davidson Cares Clay Day is proud to have the support and sponsorship from Vallencourt Construction Company as they continue to give back in Northeast Florida. To learn more about Vallencourt Construction Company visit their website at www.vallencourt.com or call (904) 291-9330. 

 

Davidson Cares Clay Day

 

The 6th Annual Davidson Cares Clay Day was held on October 21, 2021, at Jacksonville Clay Target Sports. Davidson Cares Clay Day included two-sport shooting events, beginner skeet, and sporting clay. Individuals and teams from beginner to expert levels participate.  

 

In association with the event, there was also a raffle contest. Prizes include a 65-quart YETI cooler with 13 full-size liquors and a pod for Concerts for a Cause. 

 

Money raised from the event and raffles went directly to Builders Care, St. Augustine Youth Services (SAYS), and Investing in Kids (INK!) in equal sums.

 

Please help us support these organizations that are so important to our community by visiting DavidsonCares.com.

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CONGRATULATIONS TO OUR TOP PRODUCERS IN NOVEMBER!!!

December 7, 2021

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Posted by in Top Agents

The holiday season is upon us and in full swing much like our dedicated agents at Davidson Realty helping lots of wonderful people make moves this time of year.  We are so grateful for them and our customers for making November another incredible month.  Here is a peek of our top performers for the month.

 

Suzy Evans is our Top Producer with $1.4 Million in closings for the month.  It is no surprise she is ranked in the Top 2% of all Northeast Florida Realtors and was named as part of the Top 50 Best Real Estate Agents in Northeast Florida by the Jacksonville Business Journal.  Her customers love her as evidenced by their many referrals and so do we.  We are so lucky she is part of our Davidson Family!

 

 

 

Mirtha Barzaga is our Top Overall Sales Agent and Top Listing Agent for the month.  Not a month goes by at Davidson where Mirtha is not listed as one of our top agents and she has done it again in November with over $2 Million in sales.  Mirtha continues to be one of the best in our industry always providing superior service and production.  And when she is not serving her customers she is serving her community coordinating and participating in numerous charitable events throughout the year.  Check out our Davidson Events page to see ways you can help her with Mirtha’s December Food & Toy Drive.

 

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6 Events in Northeast Florida to get you into the Holiday Spirit

December 1, 2021

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Posted by in Community Involvement, Events, News

There is a chill in the air which means it’s time to kick your holiday spirit into high gear! Thankfully, across Northeast Florida, there are ample opportunities to fill your calendar with family-friendly jolly good times. 

 

 

 

Deck the Chairs 

November 24 – January 1

Head down to Jacksonville Beach for chair decorating, music, hot chocolate, and plenty of twinkling lights. More than forty American Red Cross lifeguard chairs will be decked out in nautical-themed decor and lights. This free event has family fun for everyone. 

 

Jacksonville Zoo and Gardens ZOOLights

December 10-12, 17-19, 22-24 & 26

For the last ten years, ZOOLights has provided a magical holiday light experience amongst the zoo animals. The zoo truly comes alive at this nightly event where mesmerizing lights, musical performances, and Wildlife Carousel rides have you looking up, down, and around. 

 

Beaches North Pole Express

December 10 and December 11

All aboard! Chug over to the Beaches Museum to climb on the North Pole Express to write a letter to Santa, make crafts, and enjoy a night of holiday festivities. Pre-registration is required and can be completed by clicking here.  

 

19th Annual Gingerbread House Extravaganza

December 4-22, Closed Mondays and on December 19

The Jacksonville Historical Society will host their annual Gingerbread Extravaganza at Old St. Andrew’s Church, across from VyStar Veterans Memorial Arena. Walk-ins are welcome, however pre-purchasing tickets is encouraged to tour the exhibit of gingerbread houses, holiday gift shop, bake shop, silent auction, and have the opportunity to vote for your favorite display!

 

First Coast Nutcracker

December 17-19

Experience the timeless Tchaikovsky ballet that is a time-honored family tradition with the only performance of The Nutcracker in Jacksonville with a full, live symphony orchestra. This spectacular performance will dazzle you from start to finish. Purchase tickets today! 

 

St. Augustine Nights of Lights Festival 

November 20, 2021 – January 31, 2022

The Nights of Lights Festival is perhaps the most iconic holiday tradition in Northeast Florida. This award-winning holiday lights display features more than three million lights dancing and dazzling across every corner of the St. Augustine historic district. Take a walk or schedule a tour for a night you’ll never forget. 

 

It is clear the holiday season is here, so take advantage of all the joyful festivities taking place on the First Coast. 

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Northeast Florida Real Estate Market Update

November 19, 2021

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Posted by in News, Northeast Florida Market Trends

“Gratitude can turn common days into thanksgiving, turn routine jobs into joy, and change ordinary opportunities into blessings.” -William Arthur Ward

I rely on the Northeast Florida Association of Realtors (NEFAR) market statistics in my analysis each month. NEFAR has changed the company providing the statistics and the information is now interactive and allows you to choose property type, County, or region. Go to NEFAR.com and click on the market stats tab to check it out.

 

The median sales price of $310,000 is up 17.8% from last October, but unchanged from last month. Of the closings in October, 28.5% closed over list price. This is up 103.2% from last October, but down 7.3% from last month.

 

The inventory of homes for sale continues to be extremely low. There were 4,270 active properties for sale which is down 31.1% from last October and 7.9% from last month. The 1.4 months of inventory available is also down 25.8% year over year and 9.5% from last month.

 

The Northeast Florida real estate market may see smaller price increases and fewer multiple offers, but there is still a strong imbalance between buyer demand and homes available. It is still a seller’s market.

 

I wanted to share some interesting information from the 2021 National Association of Realtors (NAR) Profile of Home Buyers and Sellers. Jessica Lautz, Vice President of Demographics and Behavioral Insights at NAR, says both buyers and sellers “have been driven by the desire to be close to family and friends, as well as the need for a larger home” during the pandemic.

 

Of the sellers who also became buyers, many traded up to bigger, more expensive, and often newer homes, with 46% purchasing a larger home and 28% one of the same size. In the past years, convenience to work and affordability had ranked as top factors for reasons to move.

 

The pandemic likely spurred occupants to shorten their homestay, as tenure in the home decreased to eight years from 10 years, according to the report – the largest single-year change in home tenure since NAR began collecting such data. Historically, tenure in the home has been six to seven years, but it increased to nine to 10 years following the Great Recession.

 

It will be interesting to see how remote work opportunities play out in the future. It seems like employees and companies are still figuring out the new rules and how that will affect home sizes and locational choices.

 

I want to express my gratitude for your friendship and support in 2021. Davidson Cares raised $75,000 at our Clay Day thanks to all the generous people in northeast Florida. Have a wonderful Thanksgiving holiday!

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