Real Estate Market Update

October 14, 2020

 | 

“A hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles.”

Christopher Reeve

 

2020 has certainly presented some overwhelming obstacles and I have seen many heroes step up to help others. Many generous people are supporting our Davidson Cares Clay Day on October 29th and the charities are so grateful. You can still register to shoot or buy raffle tickets at DavidsonCares.com.

 

The Northeast Florida Association of Realtors market stats for September show continued strong demand for homes in Northeast Florida. There were 3,307 pending sales in September 2020 which is 36% more than the 2,436 in September 2019. We are up 9% year-to-date over the same period last year.

 

The inventory of homes for sale of 5,869 is down 39% from last September. This is the lowest level of inventory we have seen in this market. During the 2003 to 2005 timeframe when inventory was very low, there were still around 7,000 homes on the market.

 

The month’s supply of inventory is at 2.0 months. A balanced market is 5 to 6 months of inventory.

 

The median sales price is up 8% and the average sales price is up 10% year-to-date due to the increased demand and low supply.

 

Dr. Brad O’Coonor, the Florida Realtors Chief Economist provided some insight at the recent Florida Realtors convention. “The pace of residential building is still behind last cycle’s highs, and while building has continued through the pandemic as construction was deemed an essential occupation, costs of materials and labor have increased. Safety protocols for workers, some disruption in supply chains, and increased demand for materials all have translated into cost increases. Coupled with some uncertainty in lending, relief on the supply side is not coming from new construction.  For existing homes, the tap is dwindling to a dribble as current homeowners are living in their homes for an average of 10 years compared to only seven during the early 2000s. Uncertainty in the economy is also prompting people who can to stay put. That said, demand continues to be strong, as those who were sitting on the sidelines are feeling the pull to jump into a home for the first time or finally trade up, fueled in large part by record-low interest rates and the desire to upgrade to more “pandemic friendly” homes and locations. This all leads to an imbalanced market with demand outstripping supply, particularly in the single-family home category.”

 

It is a great time to sell your home! If we can be of any assistance in understanding the market or the value of your home, please let us know.

 

Enjoy the baseball playoffs and all the other great sports. Go Braves!

CONGRATULATIONS TO OUR TOP PRODUCERS FOR AUGUST

September 18, 2020

 | 

Davidson Realty’s team ended another incredible month of real estate deals. Our team of real estate experts at our St. Augustine and Beaches offices finished the month of August with more than $9.5 million in closings and more than $10.5 million in sales. Congratulations to Davidson Realty’s Top Producers for their dedication last month! 

 

The Top Producer for the month of August was Suzy Evans. Suzy had more than $2 million in closings. Suzy has been a licensed Realtor® since 1992. With her extensive knowledge of real estate in Northeast Florida and many years of experience, Suzy is a natural! 

 

 

 

Davidson Realty’s Top Sales Agent for the month of August was Liz Pappaceno. Liz had more than $1 million in buyer sales and is eager to help more clients find their dream home. Thanks to her involvement in Davidson Cares and other charities, she has also been recognized as one of Davidson Realty’s most philanthropic agents.  

 

 

Mirtha Barzaga was Davidson Realty’s Top Listing Agent with more than $975,000 in listings sold. Mirtha is a Certified Negotiation Expert which is the premier designation in real estate for advanced negotiation skills to help clients achieve their goals. 

 

 

 

For the sixth month in a row, Davidson Realty’s Top Producing Team was The Nemethy Group with more than $2 million in closings. Together, Tim and Shelley, have had more than $30 million in sales since The Nemethy Group was established in 2018. 

 

 

 

The Braddock Team was the Top Sales Team in August. Michael Braddock and Sarah Poehler had more than $1 million in sales. The Braddock Team specializes in investment properties and property management while striving to ensure a positive experience for homeowners and tenants by streamlining the rental process. 

 

 

 

For the second month in a row, Davidson Realty’s Jacksonville Beach Real Estate office had Caitlyn Hawkins as their Top Producer. Caitlyn had more than $1.2 million in closings. Born and raised in Ponte Vedra, Caitlyn has first-hand experience of all the wonderful things the First Coast has to offer. 

 

 

 

Candy Gil was Davidson Realty’s Top Sales Agent for our Jacksonville Beach office last month with more than $700,000 in sales. Candy believes open and clear communication is the key to a successful relationship with her clients.

 

 

Congratulations to the entire Davidson Realty team and especially to these Top Producers! If you are interested in buying or selling a home in Northeast Florida, call one of our experienced agents today! 

 

 

Congrats to our Top Realtors for May 2018!

June 7, 2018

 | 

The summer selling season is here! We had a great month in May with over $11 Million in closings and sales for the month with lots of happy home buyers and sellers.

 

Our Top Producer for the month is Michelle Gonzalez with over $ 1 Million in closings. Michelle closed new construction and existing homes for several friends and previous customers.

 

The Top Sales agent for the month is Mirtha Barzaga with $1.9 Million is sales. Mirtha is one of our tops every month.

 

The Top Lister for the month is Gail George with two great listings sold.

Read more

Congrats to our Top Realtors for April 2018!

May 8, 2018

 | 

Hats off to our outstanding team! We had over $11.5 Million is closings and $11 Million in sales for the month of April.

 

Our top producer with the most closings is Mirtha Barzaga with $2 Million in closings for the month. Mirtha was also our top listing agent of the month.

 

Brian Martin was our top sales agent of the month with $1.2 Million in sales.

Read more

Congrats to our Top Realtors for March & the 1st Quarter of 2018!

April 12, 2018

 | 

Congratulations to our top agents for March and the 1stquarter!

Mirtha Barzaga is our top producer, top lister and top sales agent for March. Mirtha had an amazing month with 9 closings in March.

Mirtha also took all three honors for the 1stquarter. Mirtha knows all the new communities and sells a lot of new construction.

Read more

Older Posts »

Davidson Realty