Davidson Realty, Inc.

March Real Estate Trends – Inventory is Down and Sales are up!

April 30, 2012

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Posted by in Northeast Florida Market Trends

“It was high counsel that I once heard given to a young person. “Always do what you are afraid to do.” Ralph Waldo Emerson

That will be my advice to my youngest son, Sam, who graduated from UNF on Friday with a Degree in Mechanical Engineering. I am so blessed with a great family!

I found some interesting information in the Northeast Florida Association of Realtors Market Stats for March. We have a very positive trend in pending sales. There were 2,018 contracts written in March 2012 compared to 1,719 in March 2011 for a 17% increase. The first quarter of 2012 is up 18% over the first quarter of 2011. In my office, the first quarter pending sales are up 40% over first quarter last year.

Now for the interesting part, there were 1,419 closings in March 2012 compared to 1,529 closings in March 2011 for a 7% decrease. The first quarter closings are down 3% compared to first quarter last year. Pending sales have risen so dramatically in the last 3 months, the closings should be increasing soon. It was also interesting to note that the price range with the largest increase in pending sales is $1,000,000 and above with an 18% increase. Read more

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Northeast Florida Market Trends for February: The Highest Number of Pending Sales Since April 2010!

March 27, 2012

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Posted by in Northeast Florida Market Trends

“I’ve got a great ambition to die of exhaustion rather than boredom.” Angus Grossart

I have been saying for almost 32 years that I could never be bored married to Jim. There is no way to predict what he will do any day and he somehow always convinces me to join in whatever adventure he creates. Something new I am working on is to find some joy in every single day. I hope you will also.

I found some joy in the Northeast Florida Association of Realtors Market Stats for February. The most exciting news to me is the increase in pending sales of 27% over February 2011. For the last 12 months we have averaged 1,493 pending sales and in February 2012 there were 1,750 contracts written. This is the highest number of pending sales since April 2010. Interestingly, based on a rolling 12-month total the $500,000-$1M price range had the highest percentage increase (over 17%) in pending sales.

The inventory has continued to decline. There were 14,321 active properties available in the NEFAR market area in February 2011 and there are 30% less properties available in February 2012 with only 9,977 active properties. The months supply of inventory dropped 35% from 10.3 months supply in February 2011 to 6.7 months supply in February 2012 very near market stabilization. The price range with the largest decrease in number of properties and months supply is the under $150,000 price range with a 5.3 month supply. Read more

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North Florida Real Estate Trends for January 2012

February 27, 2012

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Posted by in Northeast Florida Market Trends

“If it is important to you, you will find a way. If not, you’ll find an excuse.” Unknown

This quote really hit home for me, I hope you enjoy.

The Northeast Florida Association of Realtors market stats for January revealed some interesting information. First I noticed the large drop in closings from 1,432 closings in December, 2011 to only 977 closings in January 2012. I looked back and found similar trends every January. Next I compared January 2012 to January 2011 and saw a 6% decline in closings. I looked a little closer to discover that in January 2011 there were 612 lender-mediated closings and this year there were only 488 for a 20% decline. The traditional closings increased by almost 14% from 430 in January 2011 to 489 in January 2012. So overall closings are down but non distressed closings (traditional) are up.

It has been reported that the banks are going to increase foreclosing properties. How they market these foreclosures and whether this impacts short sale negotiations may be a major factor in 2012. We have seen the banks get much tougher lately with negotiations on short sales. Read more

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A Look Back at 2011 Real Estate Trends!

January 30, 2012

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Posted by in Northeast Florida Market Trends

“Those who say it cannot be done should not interrupt the person doing it.” Chinese Proverb

I thought I would start 2012 by sharing my favorite quote and an optimistic attitude that we will continue to see stabilization and improvement in the real estate market. The main reason I predict continued improvement is the tightening of inventory.

The numbers are drastic enough to tell the story. At the end of 2010 there were 14,510 active properties for sale compared to 9,902 properties available at the end of 2011. That is a 32% decline in inventory. The “months supply of inventory” dropped from 10.6 months supply at the end of 2010 to 6.7 months supply at the end of 2011. A 5 to 6 months supply indicates a balanced market. The inventory declined the most (45%) in the under $150,000 price range but declined by 41% in the $500,000 to $999,999 price range.

A more practical example of the decline in inventory is how often my agents tell me stories about a customer liking a home and calling back a few days later to move forward with a purchase only to find out the home is under contract. Read more

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Northeast Florida Real Estate Trends for November Show All Around Continued Improvement

December 22, 2011

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Posted by in Northeast Florida Market Trends

popb2anack1azzo“Something I learned early in college is to not worry about what I can’t control…But what I can control is my attitude, my effort, my focus every single day and that’s what I’m trying to worry about.”  Tim Tebow

We certainly can’t control the real estate market but we can control how we respond to the changes in trends. Fortunately, the Northeast Florida Association of Realtors market stats for November show continued improvement in almost all measured areas. The inventory continues to decrease. The number of properties available in the Multiple Listing Service in active status at the end of the month dropped 31% from November 2010 to November 2011. There were 15,498 properties available last year and 10,722 available this year. The number of available properties has dropped every month this year.

The months supply of inventory at 7.4 months is 35 percent less than November 2010 when we had 11.4 months of inventory. The price range with the largest percentage decrease is the $500,000-$999,999 with a 45% decrease. The months supply for this price range went from 28 months to 15 months. Read more

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