Jacksonville Real Estate Trends in November – New Listings, Pending Sales & Closed Sales Show Positive Trends

December 27, 2017

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“It is the set of the sails, not the direction of the wind that determines which way we will go.” Jim Rohn


The Northeast Florida Association of Realtors market stats for November continue to show positive trends increasing over 2016 in all categories. New listings of 2,556 are up 7% over last November and up 1% year to date. Pending sales of 2,242 are up 14% over November 2016 and up 5% year to date. Closed sales of 2,028 are up 0.4% over last November and 1.5% year to date.
Prices continue to rise with the median sales price of $210,350 showing a 10.5% increase year to date over 2016. The average sales price of $254,947 is up 8.6% year to date. Inventory continues to decline with 7,594 homes for sale which is down 20% and a 3.1 months supply of inventory which is down 24.4%. A balanced market is 5 to 6 months of inventory so we continue to be in a seller’s market.

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Jacksonville Real Estate Trends in October – Market Rebounds After Hurrican Irma

November 29, 2017

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“Feeling gratitude and not expressing it is like wrapping a present and not giving it.” William Arthur Ward
The October market stats compiled by the Northeast Florida Association of Realtors show our local real estate market rebounded quickly after Hurricane Irma. That is very good news, but many housing experts are predicting a wave of foreclosures in February due to the storms. It is difficult to collect insurance until contractors are lined up to make repairs and many homeowners are waiting months for construction companies to get to the work. Some homeowners may just walk away.
Pending sales for October jumped 20% over last October. We are up 5% year to date. Closed sales are up 6% over last October and 1% year to date.

Our median and average sales prices are up over 10%. Out of the country’s 50 largest housing markets, 31 have returned to their levels during the last housing bubble (62 percent). Our market is getting closer to the peak pricing of 2005 and 2006. “As we compare today’s market dynamics to those of a decade ago, it’s important to remember rising prices didn’t cause the housing crash,” says realtor.com Chief Economist Danielle Hale. “It was rising prices stoked by subprime and low-documentation mortgages, as well as people looking for short-term gains – versus today’s truer market vitality – that created the environment for the crash.”

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Jacksonville Real Estate Trends in September – Irma Recovery & 2018 Housing Predictions!

October 31, 2017

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“Change before you have to.” Jack Welch

We had finally settled into a more stable real estate market this year without quite so many wild swings, and then Irma decided to pay us a visit. Change is always coming.

The Northeast Florida Association of Realtors market stats for September show new listings down 21% and closed sales down 25% which are the most obvious impacts from Irma. We were stuck in a holding pattern waiting for the storm for days and then with the aftermath clean up and repairs, fewer people listed their home for sale. Closings were delayed due to insurance issues, re-inspections and repairs. Read more

Jacksonville Real Estate Trends in July – Low Inventory & More Buyers!

August 31, 2017

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“The question should be, is it worth trying to do, not can it be done.” Allard Lowenstein

This quote really spoke to me as I watch how fast the real estate industry is changing and how we are constantly looking for new ways to thrive in this industry regardless of whether our specialty is developing communities, building homes or selling homes. We will all keep looking for better ways to meet the needs of our customers. Read more

Davidson welcomes 30-year real estate veteran Belinda Nelson

August 30, 2017

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We are excited to welcome experienced agent Belinda Nelson to Davidson’s sales team! Belinda boasts decades of experience in real estate and numerous designations.

“Belinda is a pillar in the Northeast Florida real estate industry and we are thrilled to welcome her to the Davidson team,” said Sherry Davidson, President of Davidson Realty.

A native of the First Coast, Belinda started her career in cosmetology. In 1988, she launched a career in real estate and utilized her knowledge of the area to become a multimillion-dollar producer. Read more

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