Davidson Realty, Inc.

January NEFAR Market Statistics May Surprise You!

February 22, 2010

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Posted by in Northeast Florida Market Trends

Sherry DavidsonIf you have been reading my market analysis for the last few months, you probably think you can skip this one because I have been saying the same thing over and over. Well this month brings a few surprises.

My first surprise is that closed sales for January 2010 were about 40% less than December 2009. There were 1,316 closings in November, 1,365 in December and 834 in January.

This looks like very negative news, but I believe the reason for the decline in closings was mainly due to short sales. We saw lenders approving and closing short sales in December to get them closed by year end. Maybe the holidays were also a factor, but we did not see any short sales making it through the process in January. Read more

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NEFAR Market Stats for December Show Low Interest Rates and Incredible Housing Values

January 25, 2010

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Posted by in Northeast Florida Market Trends

I have to admit I am not sorry that 2010 has arrived and 2009 is behind us. I do believe the worst is over for real estate in St. Augustine, FL.

The Northeast Florida Association of Realtors market statistics show we had more closings and pending sales in 2009 than in 2008. We had 14% more closings with a total of 14,381 and 25% more pending sales for the year with 15,836.

The prices continued to drop during 2009. The median price for the year 2009 was down 15%. The average price for 2009 was down 19%. The December average and median price did drop slightly from the November numbers, but I still say the prices are stabilizing in our homes in St. Augustine.

I looked at the data for the 32092 zip code which includes World Golf Village and the surrounding communities. The activity for 2008 and 2009 was about the same. There were 596 transactions for 2009.The average price for homes in the 32092 zip code was $233,370 which was approximately a 16% decrease from 2008. There has been about a 30% decrease in average sales price since the peak of the market in 2006. Read more

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November NEFAR Stats Show Pricing Continues to Stabilize

December 17, 2009

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Posted by in Northeast Florida Market Trends

The Market Statistics provided by the Northeast Florida Association of Realtors for November, 2009 continue to show encouraging trends. Even though we do not have a full year of data, the number of closings on homes in Northeast Florida for 11 months of 2009 already exceeds the number of closings in 2008. The previous year numbers were:
2005: 24,367 closings
2006: 22,366 closings
2007: 16,775 closings
2008: 12,604 closings

The closings year to date for 2009 are 12,925, and, based on the numbers we have seen in the past few months, we expect the 2009 grand total with December’s numbers to be over 14,000 closings .

As for monthly pending sales, I believe we will continue to see some inconsistencies. Pending sales for November 2009 are 1,343, which is a 59.1% increase over November 2008. However, the November 2009 pending sales are about 200 less than the number we saw in September and October 2009. Read more

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Davidson Realty Ramps it Up

October 19, 2009

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Posted by in Community Involvement

DSCN0177I recently challenged my colleagues at Davidson Realty to join me in a project for RAMP IT UP – a Northeast Florida Association of Realtors’ (NEFAR) signature project  in conjunction with The Housing Partnership of Northeast Florida to build wheelchair ramps for disabled members of our community that are confined to a wheelchair.  I was thrilled that 11 of our office associates, including owners Jim and Sherry Davidson, decided to join me at 8:30 on a crisp morning on the north side of Jacksonville to build the largest ramp of the year for the partnership.

Most of us started the day by learning the proper way to use a speed square, to measuring and cutting the wood boards on the table saw with perfection.  Throughout the 8 hour project, I enjoyed the team work and the camaraderie Read more

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Northeast Florida Market Statistics

September 2, 2009

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Posted by in Northeast Florida Market Trends

Jacksonville homes for saleThe Northeast Florida Association of Realtors released their July 2009 market statistics. I see some very encouraging trends for the real estate market in the Jacksonville and St. Augustine area.

The total number of active listings or properties available for sale is down 18.1% from last July. Since there are less homes for sale and increased sales activity, there are 13.1 months supply of inventory on the market. Even though 6 months supply is optimal, our inventory number is much better than last year when there was 17.0 months supply available.

The median sales price and the average sales price seem to have stabilized. The median price was $160,000 in June 2009 and is $159,800 in July 2009. The average sales price was $192,430 in May 2009, $184,015 in June and Read more

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