Davidson Realty, Inc.

Real Estate Market Update

September 22, 2021

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Posted by in News, Northeast Florida Market Trends

“Fear does not stop death. It stops life. And worrying does not take away tomorrow’s troubles. It takes away today’s peace.” Unknown

It is easy to agree with the truth of this quote, but much harder to live it.

 

The Northeast Florida Association of Realtors market stats for August continue to show rising prices, continued high buyer demand, and low inventories of available homes. The most recent trend we are seeing is double-digit rent increases.

 

“Put simply, August trends suggest rents are making up for lost time. Rents remained low during some of the worst months of the pandemic, growing at a sub-2% pace from September 2020 to March 2021, which is also when for-sale home prices were growing by double-digits,” said Realtor.com Chief Economist Danielle Hale.

 

Many buyers are unable to find a suitable home to purchase and have been forced into the rental market. According to Apartment List, rents in Jacksonville have risen 19.7% since August 2020, and 4.4% since July 2021.

 

There were 3,787 new listings in August, up 5.7% from last August and 6.7% year-to-date. The builders are also adding more homes. Industry sources predict an 11% to 12% increase in housing starts for 2021 or about 1.55 million units. That would be up from 1.38 million housing starts in 2020, which was a 7% increase over 2019. (Business Journal article) Builders are still being delayed by materials like windows and appliances and labor shortages.

 

The good news for buyers is that the frenzy of competitiveness of the spring market has cooled a bit. Some sellers are still pricing their homes very high, but many buyers are no longer willing to pay the prices they were during the spring and the homes are sitting or the sellers are reducing the price. While 41.0% of homes sold over list price, that is down from 44.8% in July.

 

There were 3,424 pending sales down 2.0% from last August, but up 12.4% year-to-date. Closed sales of 3,200 were down 3.1% from last August, but up 15.6% year-to-date.

 

The median sales price of $300,000 is up around 14% month-over-month and year-to-date. The average sales price of $362,699 is up 14.2% month-over-month and 17.7% year-to-date.

 

There are 4,651 homes available for sale which is down 37.2% from last August and we have 1.4 months of supply available. Five to six months is a balanced market.

 

While we are seeing more homes come available, the buyer demand remains very strong. We should continue to see prices increase, multiple offers, and increased rental rates.

 

Please come join us on October 21st for our major fundraiser, Davidson Cares Clay Day. We support Builders Care, St. Augustine Youth Services, and Investing in Kids. Go to DavidsonCares.com and register or buy a raffle ticket for one of our great prizes.

 

We appreciate your support and referrals. Please let us know if we can assist you in any way.

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Generous Visionaries – Hutson Companies Supports Davidson Cares Clay Day

January 13, 2021

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Posted by in Community Involvement, Events, News

Since the beginning, Hutson Companies has been a major sponsor to Davidson Cares Clay Day. The generosity of Hutson Companies is truly admirable. In 2018, Hutson Companies pledged to match up to $40,000 as an additional contribution to St. Augustine Youth Services (SAYS), one of the organizations that benefit from Davidson Cares Clay Day. That year, more than $52,000 was raised and, thanks to the thoughtfulness of Hutson Companies, SAYS efforts to shape the future of at-risk youth was supported further.

 

The partnership between Davidson Realty and Hutson Companies spans many years. From helping Hutson Companies sell farmland in Elkton and Hastings to, most recently, commercial land in OakLeaf Plantation, the respect and trust between Davidson Realty and Huston Companies has formed a thriving friendship.

 

“David Hutson is an amazing real estate visionary. He has built homes and developed beautiful communities successfully for many years. David’s work is truly exceptional,” shares Davidson Realty President, Sherry Davidson. “In addition to their incredible work in the real estate industry, David and Nancy Hutson are extremely generous supporters to numerous local charities. They seem to fly under the radar to avoid recognition, but their contributions to our community are staggering.”

 

The Hutson Companies is known for developing family-friendly communities while being both environmentally and financially conscious. Since 1973, The Hutson Companies has developed dozens of residential communities in Northeast Florida to total more than 20,000 home sites. The Hutson Companies is presently developing projects in Clay, Duval, and St. Johns Counties.

 

One of the Hutson Companies’ latest developments is OakLeaf Plantation. OakLeaf Plantation is a master-planned community in southwest Jacksonville spanning 6,400 acres of land in both Clay and Duval Counties. This project is the largest development of regional impact in Clay County. The Hutson Companies has been recognized with numerous awards for their work on OakLeaf Plantation, including Developer of the Year by the Northeast Florida Builder’s Association.

 

Davidson Cares Clay Day is proud to have the support and sponsorship from Hutson Companies as they continue to do incredible work in Northeast Florida. To learn more about Hutson Companies visit their website at www.hutsoncompanies.com or call (904) 429-9965.

 

Davidson Cares Clay Day

The 5th Annual Davidson Cares Clay Day was held on October 29, 2020, 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 were invited to participate and enjoy a safe shooting experience with no group gatherings.

 

In association with the event, there was also a raffle contest. Prizes included a 65-quart YETI cooler with 13 full-size liquors.

 

The $40,500 raised from the event and raffles went directly to Builders Care, St. Augustine Youth Services (SAYS), and Investing in Kids (INK!) in equal sums.

 

Visit DavidsonCares.com to learn more about these organizations and donate to support their causes.

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Looks Like The “Oracle from Omaha” Was Right, Again

December 11, 2012

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Posted by in News, Northeast Florida Market Trends

In February this year during an interview on CNBC, Warren Buffet said if he could find a way to manage them, he’d buy up “a couple thousand single family homes”.  Buffet explained single-family homes are a very attractive investment now and, if held for a long period of time and purchased at the low interest rates currently available, houses are even better than stocks.

First, a personal message to Mr. Buffet:  Shelby Heinemann and our Davidson Property Management team would be happy to help you manage those couple thousand single-family homes! Read more

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