So, last month I explained to you all that I was being called a “Negative Nancy” at work, but I have received tons of great feedback for providing you with the TRUE market stats instead of trying to put a positive slant on the information. So this month, I’m hitting you with the facts again! I am providing a table from the Northeast Florida Association of Realtors (NEFAR) statistics, so I don’t have to be positive or negative – you choose how to look at it!
| |
July 2010
|
August 2010
|
September 2010
|
| Pending Sales |
1,502
|
1,553
|
1,502
|
| Closings |
1,364
|
1,394
|
1,178
|
| Median Price |
$137,000
|
$132,500
|
$130,000
|
| Average Price |
$168,974
|
$169,620
|
$168,787
|
| Listings Available |
15,985
|
15,762
|
15,266
|
| Month of Inventory |
11.0
|
10.6
|
9.9
|
| Closings – Lender Mediated |
46.6%
|
51.4%
|
54.8%
|
As you can see, pending sales haven’t changed very much in the last few months. The September 2010 pending sales are 6.6% higher than September 2009 when there were just 1,409.
The closed transactions were down in September 2010 from the previous month and down 14.5% from September 2009 when closings were 1,377. There is a positive trend in closings year to date. The total closings dropped from 24,367 in 2005 to 22,366 in 2006, 16,775 in 2007 and 12,604 in 2008. They went back up in 2009 to 14,524 and we already have 12,317 closings in 2010 with three months data to be included. (more…)
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August ended with a rush of closings and three very deserving St. Augustine realtors coming out on top! Everyone worked hard and we ended the month with over $4 million in sales and over $2.7 million in closings. If only the sales numbers would all move over to the closing’s board! Hopefully our talented crew can grant that wish in September!
Our Top Producer for August is Mirtha Barzaga. She closed 5 transactions for a total of $806,200! Mirtha was also our Top Sales Agent in July. She is on a roll selling Jacksonville FL real estate and she can’t be stopped!
The Top Sales Agent for August is Ted Tyndall. He sold over $400,000 for the month and we couldn’t be happier to see his name on this list! Ted is very involved with ICI Homes in Palencia and would be happy to show you some beautiful Bella Terra models! If you want to keep up to date on all the Northeast Florida real estate news, “like” Ted’s Facebook Page: http://www.facebook.com/?ref=home#!/pages/Northeast-Florida-Real-Estate/112379062129605?ref=ts
Our Top Listing Agent (with no surprise) is Suzy Evans! She had almost $600,000 in listings sold and a total sales volume for the month of $849,300. She was our Top Lister last month and our Top Lister for the 2nd Quarter. Suzy is known to stay at 100 mph and boy does she get things done! We are very lucky to have her on the Davidson Team.
We want to thank all of our wonderful agents for their hard work this month. Now lets get to work on those closings in September!
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This week’s headlines on the historical drop in national home sales certainly didn’t help in creating market confidence. Closings in the Northeast Florida Association of Realtors (NEFAR) market area in July are down almost 30% from the number of closings in June. I really believe the tax credit is part of the reason for this drop. It is encouraging to see that pending sales or new contracts being written in Northeast Florida have increased over June.
Out of curiosity I did some research on high-end transactions in the Nease High School attendance zone which includes communities such as Nocatee, Palencia, World Golf Village and everything in between. Since January 2010 there have only been 25 single family homes closed over $500,000. My statistics come from the Northeast Florida Multiple Listing Service and do not include any home listed only in the St. Augustine MLS. Sales of high-end residential homes are still hampered by the lack of consumer confidence and the mortgage lending market.
Here are a couple facts about St. Augustine and Jacksonville FL real estate in July:
• While the median sales price in the NEFAR area dropped in July, the average sales price in the NEFAR area showed a slight increase. Unfortunately our primary markets 32092 (World Golf Village) and 32095 (Palencia) showed a decrease in the average sales price. Home price improvement will only be generated by reduced housing inventories and increased job production in the private sector.
• The number of homes available for sale continues to drop. When looking at “for sale” inventories, keep in mind there is a need to segregate listings based on sales price viability. There are many sellers listing their homes high above true market value. These properties are “for sale” but not saleable.
• The inventory of available homes in the World Golf Village is less than half of what it was 2 years ago. In August 2008 there were 258 active listings and in July 2010 there were only 122 active listings. (more…)
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There has been a lot of restructuring going on lately in this St. Augustine FL real estate office and we couldn’t be happier about it! We are really excited about our new and improved sales meetings on Tuesday mornings. The agents are getting more involved, we are team building, celebrating hard work, congratulating each other, and having fun! And, of course, we are learning all about Northeast Florida real estate.
To help get more “hands on” we’ve decided that once a month, the last Tuesday of the month, we’re taking our party on the road to see and learn all we can about our area. So far we’ve seen the beautiful Lennar, David Weekley Homes, Taylor Morrison, and CornerStone Homes’ models in Nocatee and August 31st we are setting out to make Aberdeen home for a couple hours.
Aberdeen is full of great properties and builders. Have you had the chance to check out the community? There is so much going on there that you might not have seen. We are starting off at the Drees Homes’ model and then exploring what Richmond American, DR Horton, Holder Johnson, and Mercedes Homes’ have to offer. If you are interested in the CR 210 area, any one of our Jacksonville Realtors can show you around town! (more…)
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![Don_Wilford_Picture[1]](http://www.davidsonrealtyblog.com/wp-content/uploads/2010/02/Don_Wilford_Picture1-200x300.jpg)
Since Davidson Realty recently listed ICI Homes’ properties in Palencia, I decided to pop my head into Don Wilford’s office and say hi. Don is a third generation builder who started with ICI Homes as a construction manager over 30 years ago. He worked his way up to ICI’s North Florida Division President. Needless to say, he has experienced many changes in the real estate market over the years. He has seen it up and he has seen it down…so I value his opinion on the state of the market!
When I asked Don how he was feeling about the market, he shared he believes new construction prices have bottomed out and are starting to go up slightly. He said new construction will not go lower and he predicts that construction costs will rise at least 10% by the end of 2010. Many consumers must agree because there has been an increase in sales activity. ICI sold 10 homes in January – and six of them were new builds with an average price of $500,000. This means ICI sold more new builds in January 2010 than they did in all of 2009! (more…)
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