April Market Stats: Florida is growing Fast!!

May 31, 2019

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The National Association of Realtors annual meeting in Washington DC just wrapped up and Dr. Lawrence Yun, chief economist at the National Association of Realtors made an interesting prediction of changing future migration patterns of buyers. “Because of significant differences in home prices between metro markets, he says there may be a steady shift in the relocation of people and companies into more affordable regions of the country. Housing affordability has been falling according to NAR’s Housing Affordability Index.” Florida Realtors

 

Another Florida Realtors article discusses the 2018 American Community Survey state-to-state migration flows. Florida had the most domestic in-movers, with 566,476 people moving from another state within the past year. The states with the next highest in-migration flows are Texas with 524,511 and California with 523,131.

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The Market Continues to Show Positive Trends in 2019!!!

April 30, 2019

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The Northeast Florida Association of Realtors market stats for March 2019 shows continuing positive trends in the residential real estate market. There were 2,979 pending sales in March which is up 2% over last March. We are up 5% comparing the 1stquarter to the same period last year.

 

There were 2,459 closings in March which is down 7% from last March. The closings are up 0.4% in the first quarter over the previous year.

 

The median sales price of $229,900 is up 2% over last March and the average sales price of $267,500 is up 0.1%.

 

There were 3,908 new listings in March which is up 1% over last March. There were 9,162 homes available for sale in March which is up 4% from last March. Our months supply of inventory available stayed the same at 3.6 months.

 

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Jacksonville Real Estate Trends: The Housing Market Is Blooming For Spring Time

March 25, 2019

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The northeast Florida real estate market seems to be coming out of the winter doldrums and heating up for spring. We have written more contracts in the first two weeks of March in our office than in the entire month of February.

 

In the Northeast Florida Association of Realtors Market Stats for February 2019, pending sales of 2,454 are up 5% over February 2018. There were 1,956 closings which is up 1%.

 

There were 3,351 new listings which is up 4% over last February. The inventory of homes for sale is 8,942 which is up 5% over last February. We continue to have a 3.5 months supply of inventory which is still a little below a balanced market of 5 to 6 months supply.

 

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Q&A with Sherry: Buying strategies for a seller’s market

April 27, 2018

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Like much of the country, Northeast Florida’s home inventory has remained low and prices continue to inch upward. So, what does that mean for our real estate market? It means we are in the midst of a seller’s market, one that tends to be more competitive for buyers on the hunt for a new home.

However, there are a number of ways buyers can position themselves for a successful home search. I recently caught up with Davidson Realty President Sherry Davidson who provided some insights on our current market and how buyers can best prepare for buying in a seller’s market.

Northeast Florida inventory is down almost 12% and months’ supply is down 15+%. What do you see driving this trend?  We are seeing strong buyer demand. There are nearly 1,000 people a day moving to Florida. The economy is good and people are more confident. Also, millennials are the largest percentage of purchasers now as they begin to buy homes and start their families.

How do you think this trend will play out as we enter summer months? New construction is increasing but buyer demand is strongest in the spring and summer. I think we will continue seeing multiple offers and increasing prices.

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Top Three Reads to Achieve Your Full Potential

August 15, 2012

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adult20summer_readingReading is one of my favorite pastimes and although I could recommend a whole list of books that have influenced me for the better, I wanted to share my three favorites. If you read and practice what they preach, the authors are sure to impact your life in a positive way.

1. I think the best book if you only read one is Stephen Covey’s “The 7 Habits of Highly Effective People. The principles are simple and timeless. You will spend time determining what is really important in life and how to spend your time on what you decide is a priority. You will improve your relationships and learn to sharpen your saw.  Don’t put it off, improve your life today. Read more

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