Jacksonville Real Estate Trends in March – Home Prices & New Listings Are Up

April 25, 2018

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“One thing I can say about George… he may not be able to keep a job, but he’s not boring.” Barbara Bush

Barbara Bush was a great lady who had a great perspective on life and I will miss her.

The Northeast Florida Association of Realtors market stats for March 2018 continue to show strong buyer demand and the inventory of available homes remains tight with a 3.3 months supply. A balanced market is 5 to 6 months of supply.

This continues to cause the significant rise in prices. The median sales price is $224,118 which is up 15% over last March and 14% year to date. The average sales price of $269,415 is up 11% over last March and 12% year to date.

The builders are trying to meet the demand. The Northeast Florida Builders Association reports 1,519 building permits issued in the four county MSA in January and February 2018 compared to 1,289 for the same period last year reflecting a 17.8% increase.

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Jacksonville named #1 real estate investment city in U.S.

March 27, 2018

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Jacksonville was recently dubbed as the best city for real estate investing in 2018. The ranking was determined by home improvement company Renoviso, which based its list primarily on two important factors: affordability and growth.

Specifically, a city’s affordability can be found using the area’s median home price and number of high-paying jobs available. A city’s growth is based on population increases and job market. Other factors considered in the ranking included rate of return on investment (capitalization rate) and potential supply and demand of rentals. Read more

Jacksonville Real Estate Trends in February – Home Prices & New Listings Are Up

March 26, 2018

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“My home is in Heaven. I’m just traveling through this world.” Billy Graham
It is hard to be sad at Billy Graham’s passing because he is finally home. He has inspired us for many years and I will miss him.
I wanted to share my thoughts on the local real estate market and the new tax law related to the housing industry.
The Northeast Florida Association of Realtors market stats for February show a very similar trend to last year. January and February historically are less active for contracts and closings with our market heating up in the spring.
Pending sales were up slightly (0.1%) from 2,356 last February to 2,358 this year. Closed sales were down 4.3% from 1,857 last February to 1,778 this year. Read more

Jacksonville Real Estate Trends in January – Prices Increase and Inventory of Available Homes Decreases

March 2, 2018

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“Talent is God given. Be humble. Fame is man-given. Be grateful. Conceit is self-given. Be careful.”  John Wooden
The Northeast Florida Association of Realtors market stats for January shows the same trends we have seen for the last few years. There were 2,105 pending sales in January up 1% over last January. We have averaged 2,426 sales per month over the last 12 months.
We had 1,526 closed transactions in January which is an 11.5% decrease from last January. One month of activity doesn’t worry me because we were up around 10% for October, November and December.
The median sales price of $204,060 is up 17% from last January but is lower than November and December median price following the similar trend we see every year. The average sales price is the same story. The $244,795 average sales price is up 12.5% over last January but down from the last few months. Read more

Jacksonville Real Estate Trends in December – Pending Sales, Closed Sales and Prices All Show Increases

January 30, 2018

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Posted by in News

“You must do the things you think you cannot do.” Eleanor Roosevelt
Happy New Year! The new year always brings reflection on the previous year, new goals and so much hope.
December made a strong showing in the Northeast Florida Association of Realtors market stats. The pending sales, closed sales and prices all show increases over last December and year over year.
The new listings were up 1% for the month and the year. The available inventory continues to be the biggest story nationally and locally. The homes available for sale dropped 19.4% from 8,763 last December to 7,062 this December. There are 2.9 months supply of homes for sale compared to 3.8 months last December for a 23.7% decrease.
New home construction may help increase the supply of homes. The National Association of Home Builders (NAHB) recently shared some forecast. Read more

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