Davidson Realty, Inc.

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

January 25, 2010

 | 
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

Comments currently closed.

Positive Real Estate Market Trends Continue

November 2, 2009

 | 
Posted by in Northeast Florida Market Trends

Sherry DavidsonThe positive trends that we have seen in the Northeast Florida real estate market are continuing.
• Pending sales and closed sales for September, 2009 have increased over the previous month and the previous year.
• The inventory of homes in Jacksonville, FL is down from last month and last year.
• Prices of homes in Jacksonville, FL are down slightly from last month but the change is much smaller than we have seen in past months.
• Prices of homes in St. Augustine in the 32092 zip code have increased slightly.  The 32092 zip code includes World Golf Village, Murabella, Sevilla, St. Johns Golf and Country Club, South Hampton and many more. The average sales price in 32092 was $179,860 in the first quarter of 2009, $206,254 in the second quarter, and $217,893 in the third quarter.

There is also good news to report regarding short sales. We are handling many short sales and they are complicated and frustrating; however, the process is improving over what we have experienced in the last couple of years.

Comments currently closed.

How is the Real Estate Market?

September 18, 2009

 | 
Posted by in Distressed Properties, Foreclosures, News, Short Sales

Sherry_DavidsonHow is the real estate market? I hear this question a lot. My answer lately has been that activity is up dramatically, but prices are not. Here are three trends that I like to watch.

1. Inventory levels
The number of active listings in the Northeast Florida Multiple Listing Service continues to decline. There are 14,945 properties for sale in August 2009 compared to 18,326 in August 2008. There are 18% less properties for sale. The months supply of inventory dropped from 17.1 months in August 2008 to 12.6 months in August 2009. Six months of inventory is when the market is most balanced.

2. Pending Sales
The pending sales in August 2009 are up 48% over August 2008. We have seen a large increase in the number of buyers looking for a home and the contracts that are being written.

3. Prices
The median sales price is down 17% from last year and 25% from two years Read more

Comments currently closed.

Sherry’s Five Real Estate Facts For June 2009

August 17, 2009

 | 
Posted by in Northeast Florida Market Trends

Each month the Northeast Florida Association of Realtors releases market statistics. I have pulled five of the most interesting facts from the month of June for you. To sum up the market, sales are better, closings are harder and prices are down.

1.  Pending sales increased 42.4% in June, 2009 over June, 2008.

We have seen a huge increase in home buyer activity in St. Augustine, FL. For several months, buyers were looking at homes but not making offers. At Davidson Realty we are seeing many more contracts written.

2.  Closings decreased 3.3% for the same period.

The buyers are getting homes under contract; however, the closings are taking much longer. It is taking longer for lenders to approve the buyer’s loan. There are more obstacles to closing a transaction, including new regulations that do not allow lenders to speak directly with appraisers. There are also many short sales where the homeowner owes more to the lender Read more

Comments currently closed.
« Newer Posts

Davidson Realty