Real Estate Market Update

September 17, 2020

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“Nobody made a greater mistake than he who did nothing because he could do only a little.”

Edmund Burke

 

The big real estate story across the nation and locally is the shortage of available homes for sale. There were 6,403 homes for sale at the end of August according to the Northeast Florida Association of Realtors (NEFAR) market stats. That is 35% less than August 2019 number of 9,874 for a reduction of 3,471 properties. We have 799 fewer properties than last month.

 

There is a 2.3 months supply of inventory available in Northeast Florida which is down 38% from August 2019 when there was a 3.7 months supply. A five to six month supply is considered a balanced market.

 

The inventory is down even with building permits rising. Building permits in the Jacksonville MSA are up about 6% year to date over the previous year even with COVID 19 slowing the process down. There were 7,823 permits issued through the eight months ending August. Most of the builders are selling their speculative homes before construction is finished.

 

The new listings in August 2020 from the NEFAR report are 3,441 homes. This is 4% fewer new listings than August 2019 and we are down 5% year to date. As new listings become available, they are going under contract quickly and many times with multiple offers.

 

There is a strong demand for homes in our market now. In addition to local buyers that want more space for working from home, schooling virtually, or more outdoor space, we have many people moving from other states. Some employers are allowing employees to work from home permanently or at least until mid-2021 and that allows employees to relocate to areas with better weather, more space, and lower taxes.

 

The strong demand and short supply of homes continues to drive prices higher. The median and average sales prices are up 8% and 9% respectively year-to-date. It also creates the perfect time to sell your home. If you are dreaming of a new or different home, please let us know and we can give you the guidance you need to make a good decision.

 

Davidson Cares is not making the mistake of doing nothing as mentioned in the quote. We have found a safe way with individual shoot times and no group gatherings to have our 5th Annual Davidson Cares Clay Day on October 29th. We would love for you to participate and support St. Augustine Youth Services, Investing in Kids and Builders Care with a donation, sponsorship, or as a shooter. Please go to DavidsonCares.com to get all of the information.

 

It is so nice to have sports back. I hope your favorite team has a great year. Thank you for your continued support of Davidson Realty, Davidson Property Management, and Davidson Cares!

FROM THE COUNTRY CLUB TO THE PEACEFUL COUNTRY, DAVIDSON REALTY HAS YOUR NEXT HOME.

September 16, 2020

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As a locally owned brokerage with two locations servicing all of Northeast Florida, Davidson Realty has a team of more than 40 real estate agents who understand the market, live in your communities, and have a passion for finding the right buyer for every home.

 

This week’s FEATURED LISTINGS include a journey through one of Northeast Florida’s most luxurious country club communities all the way down to the perfect Callahan country home with enough land to ensure peace and tranquility. Let’s begin our tour.

 

 

 

This is a love at first site experience.

 

 

105 Hickory Hill Drive, St. Augustine, FL 32095

 

With practically every upgrade your heart could possibly stand, 105 Hickory Hill Drive may be situated in St. Augustine but you’ll definitely feel like you’re living in a Mediterranean Villa somewhere beneath the Tuscan sun. With 6,182 square feet of air conditioned living space (8,900 sq ft total), Hickory Hill is a completely custom designed home offering 5 bedrooms and 6 bathrooms. If space, luxury, and entertaining are what your heart desires – look no further. From the inside to the outdoor living space, this home in Palencia includes custom indoor and outdoor fireplaces, professionally designed wine & spirits cellar, an exceptionally large pool, heated spa, and stunning outdoor oasis ready for the most talked about gatherings. The exquisite gourmet kitchen will have anyone ready to spend the majority of their time in this heart of the home. It includes 48” cabinets, walk-in pantry and 11’ ceilings with custom features throughout. While touring this home you will definitely want to look up! Cathedral multi arch ceilings, gorgeous finishes, stunning light fixtures, and chandeliers will have your guests mesmerized when visiting your Mediterranean estate.

 

Call Mirtha Barzaga today at 904-940-5000 today for a tour.

 

 

Everything about this home feels CUSTOM and SPACIOUS

 

 

13822 Saxon Lake Drive, Jacksonville, FL 32225

 

When living in Queen’s Harbour Yacht and Country Club, you can expect quality in a pristine community. From the moment you step inside this gorgeous home on

 

Saxon Lake Drive, you experience why we use “custom” and “spacious” to describe it. Ideally situated overlooking an 11-acre lake in the heart of Queen’s Harbour Yacht and Country Club, this home is filled with natural light that pours in creating the most inviting and cheerful place to call, “home.” This floorplan was perfectly designed offering 4 bedrooms and 4 bathrooms in 3,510 square feet of living space. The open great room with soaring high ceilings flows perfectly into the kitchen with plenty of cabinets and countertops. And that view! With three sets of French doors that take you to your outdoor oasis, whether you’re inside or enjoying the screened lanai with gorgeous wood ceilings, the view of the lake will have you feeling those vacation vibes in your own home. Open the French doors and enjoy Florida living with gentle breezes and the peaceful sounds of living in Queen’s Harbour.

 

Call Jennifer Todd today at 904-940-500 for a tour.

 

 

If Joanna Gaines lived in Callahan…

 

 

45097 Petree Road, Callahan, FL 32011

 

20 acres. Need we say more? With enough property to truly enjoy the best that country living has to offer, this one story brick home is a must see. Three bedrooms, 2 bathrooms, formal dining room, and spacious den all overlooking green grass and trees for as far as the eye can see. While life gets hectic, everything feels relaxing on Petree Road. Just imagine yourself in the patio area that includes an outdoor fireplace, in your rocking chair at night enjoying your favorite beverage. It’s a beautiful and peaceful place to call “home” with so much to offer including a place for horses, livestock, barns, and gardening. This home includes a covered breezeway to a separate garage which can hold four cars. Petree Road offers 1,916 square feet of living space and so much more as you enjoy and roam the 20 acres of land you’ll be living on. This home is perfect for a family ready to leave the stresses of city living, a retiree looking forward to relaxation and privacy, and anyone in between. Don’t miss this opportunity to be surrounded by the beauty of living in the south.

 

Call Mirtha Barzaga today at 904-940-5000 for a tour.

A Quick Market Update

August 20, 2020

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“You cannot shake hands with a clenched fist.”

Indira Gandhi

 

We are not supposed to shake hands while we are social distancing, but it still makes my heart happy when someone looks me in the eye and shakes my hand with both of theirs. I can feel the love and respect.

 

The Northeast Florida Association of Realtors market stats for July indicate it is a great time to sell your home. With record-low mortgage rates and low inventory of homes listed for sale, the homes coming on the market are going under contract very quickly.

 

There were 3,598 contracts written in July which is an increase of 21% over last July. We are up 4% year-to-date.

 

There were 3,514 closings in July which is an increase of 16% over last July. We are down slightly (1%) year-to-date but catching up quickly. Closings were less than the previous year in April and May but rebounded in June and continued to increase in July.

 

The median sales price of $265,000 is up 10% over last July. The average sales price of $325,665 is up 15% over last July. Both prices are up 8% year-to-date. It is very clear that we are not seeing decreased pricing because of COVID.

 

The inventory of homes for sale is 6,943 which is down 30% from last July. This is the lowest number of homes for sale since mid-2005. For perspective during 2007 in the great recession, we had approximately 20,000 homes for sale.

 

We have 2.5 months supply of inventory available. A balanced market is 5 to 6 months of inventory. Inventory is low even with increased permits being pulled by the local builders. There are 6,608 building permits in the Jacksonville MSA through July 2020 compared to 6,208 year-to-date in 2019.

 

We are seeing increased contracts, closings and prices while experiencing a low number of homes available for sale. All add up to a terrific time to sell your home.

 

Mark your calendar for our annual Davidson Cares Clay Day on October 29th. We have worked out a very safe way for everyone to shoot with no group gatherings. We will be supporting Builders Care, Investing in Kids! and St. Augustine Youth Services again. Please email me at sdavidson@davidsonrealtyinc.com if you would like to participate.

 

Stay safe and as always thank you for your support and referrals!

May 2020 Northeast Florida Market Stats: How Has COIVD-19 Impacted Our Market

June 24, 2020

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Posted by in News

The Northeast Florida Association of Realtors Market Stats for May 2020 shows a dramatic increase in sales in May (3,063) compared to April (2,368). Pending sales were down 2.6% from last May, but it appears the housing market reached its low point during mid-April and began to strengthen in May.

 

Closed sales of 2,244 were down 33% from 3,346 last May which is not surprising since people were staying at home late March and most of April and not out looking at homes and writing contracts that would close in May.

 

The average sales price of $287,842 is up 5% over last May and the median sales price of $247,484 is up 7%. The prices have not dropped during COVID because there is more demand for homes than supply of homes for sale.

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Congratulations to our TOP Producing Agents in May!

June 8, 2020

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I would like to congratulate our entire team for a great month in May. We had sales of $15 Million which is an amazing month and a wonderful surprise following April where everyone was staying at home due to COVID-19.

 

The Top Producer with the most closings in May is Delilah Salameh. I continuously receive feedback from Delilah’s customers about her genuine concern and her constant communication. Delilah was born and raised in Jacksonville and can help her customers no matter where they prefer to live.

 

 

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