Davidson Realty, Inc.

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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Davidson Agents With Another Great Month – Find out who’s on Top in November!

December 7, 2011

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Posted by in Top Agents

We have one more month to go for strong sales and closings in 2011 and our Jacksonville Realtors are proving they aren’t slowing down! We surpassed last year’s numbers at the beginning of November, so things are looking up not only for Davidson Realty, but also the North Florida real estate market (which we can all be happy about). We had over $5 million in closings in November and over $6.6 million in sales thanks to our amazing team. Looks like we have some pretty fantastic women to celebrate – Here are our Tops for November:

suzyThe Top Sales Agent and Top Producer for November should be no surprise to anyone – Suzy Evans! Suzy had over $1.1 million in buyer sales and over $1.3 million in total sales. She had almost $1.5 million in closings. Suzy was our Top Lister in October and continually demonstrates what it takes to stay on top.

Mirtha BarzagaOur Top Lister this month is Mirtha Barzaga with almost $650,000 in listings sold and over $1.3 million in total sales. Mirtha was our Top Lister for the 3rd Quarter as well. She is another agent that is no stranger to the Tops list.

Both Mirtha and Suzy are CDPEs (Certified Distressed Property Experts), which means they have specialized training in Short Sales and Foreclosure prevention. They have helped many homeowners in difficult situations and we have received many letters explaining how amazing they are at guiding you through the process. They are both experts in our area and are never too busy for your referrals!

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Jacksonville FL Real Estate Trends in January 2011

February 23, 2011

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Posted by in Northeast Florida Market Trends

 “The path to our destination is not always a straight one. We go down
 the wrong road, we get lost, we turn back. Maybe it doesn’t matter
 which road we embark on. Maybe what matters is that we embark.”
        — Barbara Hall

We have embarked on a new year and January is already proving correct many predictions of ups and downs in the real estate market during 2011. See the table below for the latest Northeast Florida Association of Realtors statistics.

 

Jan 2009

Jan 2010

Jan 2011
Pending Sales

942

1,148

1,396
Closed Sales

701

921

993
Days on Market Until Sale

109

102

120
Median Sales Price

$155,000

$132,700

$120,750
Average Sales Price

$201,832

$164,825

$153,361
% of Original List Price Received

86.3%

88.6%

86.1%
Inventory of Homes for Sale

16,690

15,443

13,198
Months Supply of Inventory

15.9

12.3

9.4

As you can see, pending sales, closed sales, Inventory of homes for sale and months supply of inventory are all showing positive trends. There are more sales each year and less inventory.

The median and average sales prices are declining. One major reason for this decline is that a staggering 59% of all closings in January were short sales or foreclosures.

If you take a 12-month average of the average sales price for the most current year, you will see it comes to $169,465 which when compared to the previous year of $179,057 shows a 5.4% decline in pricing. This method helps to smooth out the bumps in pricing each month.

If you know of anyone that would like to buy, sell, or rent a home, please give me a call. I would love to take great care of any of your referrals.

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Will Mandatory Mediation Help Foreclosures in St. Augustine?

March 3, 2010

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Posted by in Distressed Properties, Foreclosures, Short Sales

Florida is one of the states hit very hard by residential foreclosures. We had over 13,000 foreclosure filings in the Seventh Circuit Court (for Flagler, St. Johns, Putnam and Volusia Counties) in 2008 and over 16,000 filings in 2009.

A task force was formed to address the crises and they identified lack of communication between the parties as the most significant issue. The Florida Supreme Court addressed this issue by requiring mediation in all foreclosure cases involving homestead property unless the parties agree otherwise or have already participated in mediation.

The mediation will be handled by a Florida Supreme Court certified mediator appointed by the Court. The costs of the mediation will be paid by the lender and the total cost may not exceed $750. The plaintiff (lender) must have a representative who has full authority to settle at the mediation but they may appear by telephone or other electronic method. Read more

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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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