Northeast Florida Real Estate Market Update

May 23, 2022

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“You will never see the end, if you give up in the middle.” – Joyce Meyer

 

I can’t wait to see where our housing market is going next.

 

In a recent Business Journal article “Observers and economists are cautiously optimistic that more inventory will hit the market in the coming months, which, combined with potentially fewer buyers because of rising mortgage rates and home prices, should help moderate the market.” We will be watching metrics like active inventory and days on market to see if we see this moderation.

 

Right now, the Northeast Florida Association of Realtors market stats doesn’t show the moderation in our market. The median sales price of $350,000 is up 22.9% from last April and 2.7% from the previous month. There were 41.3% of the closings over list price up from 39.5% the previous month. Our buyer demand is still very strong.

 

The median days on the market is 13 days down from 14 days the previous two months. The properties are still selling very quickly.

 

The active inventory is 3,432 homes which is 24.3% less than last April. There was a slight increase (3.7%) from the previous month. The months supply of inventory is 1.2 months which is down 9.6% from last April but up from 1.0 months in March. We will have to see whether the slight increase in inventory is a change in the market or sellers just pricing their homes over market price causing them to sit on the market a little longer.

 

There are many issues that could affect the real estate market. The rapid rise in mortgage interest rates, inflation, and the continuing supply chain issues could be three of the biggest. Housing prices and wage increases due to the shortage of workers seem to be major factors causing inflation.

 

A recent USA Today article made an interesting point about older workers comprising the largest group of Americans that stopped working during COVID. Many retired early but with the runaway inflation, financial pressures, and an abating pandemic many of them are returning to the labor force. Pew Research believes 1.5 million of the 3.5 million baby boomers who retired during the pandemic did so sooner than intended. The Fed puts the figure at 2.4 million. These workers may help some with the worker shortages.

 

I will continue to watch for changes in our market but if you are considering selling, it is a very good time to get your home on the market.

 

Enjoy all the great spring activities and the sports going on this time of year. If we can assist you in any way with real estate advice, please let us know.

Congratulations to all our Top Producers in April!

May 11, 2022

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Congratulations to our Top Producers in April! Our Company had over $18 million in closings for the month, so it wasn’t easy to be the tops.

 

The Top Producer (closings) and Top Buyer Sales is Mirtha Barzaga. Mirtha had over $4 million in closings helping 10 families in the month. She closed 3 homes for sellers, 3 new construction homes for buyers and 4 resale homes for buyers. Whatever your real estate needs, Mirtha has the knowledge and the skills to assist.

 

 

 

The Top Listing agent and Top overall Sales is Suzy Evans. Suzy had $2 million in sales for the month. Her knowledge of the local housing market and inventory, along with an extensive network of contacts, and her caring positive attitude are just a few reasons to choose Suzy for your real estate needs.

 

 

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Everything You Need to Know About SilverLeaf: A Q&A with Riverside Homes

May 9, 2022

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If you drive around St. Johns County, you will see new businesses and developments popping up on every corner. A jewel in the highly coveted area: SilverLeaf. SilverLeaf is a master-planned community that is family-friendly and features resort-style amenities with no CDD fees. SilverLeaf is zoned for 10,700 dwelling units, 2,650,000 square feet of mixed-use commercial space, and more than 3,500 acres of beautiful conservation land. Once complete, SilverLeaf will be the largest community development in Northeast Florida. We recently sat down with Riverside Homes’ New Home Sales Consultant in SilverLeaf, Brian Thurston, to find out more about why so many homebuyers are choosing to call SilverLeaf home.

 

How would you describe SilverLeaf?

SilverLeaf is the premier “No CDD fee”, master-planned community in the heart of northern St. Johns County. A golf cart-friendly backdrop allows residents to take advantage of convenient access to amenities, retail, restaurants, and the all-inclusive outdoor lifestyle we enjoy year-round in Northeast Florida. Whether a quick commute to Jacksonville, a nice drive to historic St. Augustine, or a trip to the beach, SilverLeaf has you positioned in one of the most accessible communities in our area.

 

What types of neighborhoods are within SilverLeaf?

SilverLeaf is comprised of a wide variety of different neighborhoods. From multifamily luxury apartments and townhomes to single-family estate living, SilverLeaf has it all! We are also excited about the future equestrian properties that will be developed in the coming years.

 

Are there perks for SilverLeaf residents?

From resort-style amenities to an ideal location, SilverLeaf is a family-friendly, new home community where you can live, work, and play. Currently, residents enjoy the use of one main amenity center. A large clubhouse is surrounded by three pool structures, a splash park, an exciting playground, two dog parks, four tennis courts, and six pickleball courts. There are a total of six amenity centers planned for future construction, one of which is just getting started. 

 

One of the most important features to SilverLeaf residents is the fact the community is zoned in the #1-ranked K-12 public school district in Florida, St. Johns County.

 

The highly anticipated new retail space, SilverLeaf Commons will also be opening soon. With 39 individual units for shops and restaurants, it will greatly advance the community vibe and bring more business opportunities just steps away from Courtney Oaks and Silver Landing neighborhoods. Baptist Health will be building a 300,000 square foot Medical office complex to host as an anchor. Future commercial space includes a 165-acre town center, dedicated grocery retail plaza, along with many acres of additional retail, mixed-use, and parks.

 

Where is Riverside Homes building in SilverLeaf?

As of Spring 2022, Riverside Homes is sold out in SilverLeaf Village and wrapping up construction operations. Our residents here will be enjoying a completed neighborhood very soon! Riverside Homes is also actively selling and building in Silver Landing on larger 60 and 70-foot homesites. We are expecting to open two of our most popular and award-winning model homes, the Ortega and Hamilton plans, sometime in June 2022.

 

This month, we are excited to release Courtney Oaks, the up-and-coming exclusive gated section of SilverLeaf. Courtney Oaks will proudly offer our newest and most compelling floor plan lineup on 70 and 80-foot estate homesites. Located close to the northern entrance of the community, this neighborhood allows for easy access to the CR-210 shops and restaurants. We are anticipating opening the door to our incredible Stella II model in the Fall of 2022.

 

Can you describe the popular Riverside Homes floor plans and their features?

Riverside Homes has a brilliant architect who’s always on the cutting edge of what buyers want most. Our plans are known for their tall ceilings, smooth walls, oversized windows and doors, and capture of bright, natural light. All of our plans are designed with function and style in mind. Whether it’s dueling offices for those work-from-home gurus, in-law suites, flex rooms, lofts, bonus rooms (Florida basement), or recreation rooms, there is not much we can’t offer our buyers. Of course, open floor plans great for entertaining are cooked right into all of our captivating plans. If I had a dollar for every smile I’ve seen in our model homes, I’d be retired by now!

 

What is the process to build a Riverside Home in SilverLeaf?

We take great pride in walking our buyers through each step of the building process. First, we begin with a deeper conversation and consultation to understand exactly what floor plan will work best to accommodate a family’s lifestyle. There are of course a variety of different factors that play into this, but we always help the buyer with insight from our experience so they can make wise design and financial choices. Then we counsel them through the structural design process, to dial in just that right fit. Now it gets exciting for buyers, as we are ready to finalize the purchase and get the property off the market!

 

Once we have the property under agreement, the sales counselor will begin working with the office staff, architect, and engineers to plan and permit the buyer’s new home. We take a lot of pleasure in being the builder that keeps their buyers up to date with weekly communication all the way through the planning and building phases of their new home project.

 

During planning, our buyers will have their interior design meeting with a dedicated designer to help them through selecting cabinets, counters, flooring, faucets, lighting, tile work, and more. Our outstanding interior design team stays at the forefront of the latest trends and most timeless design elements. During each design appointment, our designers help homebuyers navigate interior and exterior selections to ensure we design a home that perfectly suits their family’s needs, matches their vision, and turns their house into a home.

 

Once we have permits, we can schedule an orientation with our buyer and their project manager and begin construction. We know this is an exciting time for buyers to see their dream come alive, so we keep them engaged with weekly updates and meetings at critical stages in construction. This allows our buyers to know all of the things we know each week and can keep tabs on their home’s progress.

 

When our buyer’s home is completed, we go through three extensive punch list phases to fine-tune all elements of fit and finish. When we feel as though we have given the new home all of our love, we are ready for the buyer’s new home orientation walk-through so they can learn all about their home. This is also a time for us to further fine-tune fit and finish, but generally, this is a very short list since we have already completed all the heavy lifting.

 

A week later, it’s time for the final walk-through, closing, handing over title and deed, along with keys. New Home Day has arrived!

 

What makes SilverLeaf the ideal place to live?

Premium commutability, resort-style amenities, on-site retail & dining, and no CDD fees are what make St. Augustine’s SilverLeaf community the ideal place to live in Northeast Florida.

 

Can you give us a sneak peek at what’s to come for SilverLeaf? 

Check out the overall site plan below and you can get a sneak peek at what’s to come in SilverLeaf. To follow along with the progress on the Courtney Oaks neighborhood and to be the first to reserve a lot, please click here (link click here to https://myriversidehome.com/communities/courtney-oaks-at-silverleaf/). To stay updated on SilverLeaf Commons and view renderings, please click here (link click here to https://www.colliers.com/en/properties/silverleaf-commons/usa-218-silver-forest-drive-st-augustine-fl-32092/usa1093567).

 

To learn more about building with Riverside Homes in SilverLeaf please visit MyRiversideHome.com or call (904) 530-4720. If you are ready to call SilverLeaf home contact the real estate experts at Davidson Realty today at (904) 940-5000. 

 

Northeast Florida Real Estate Market Update

April 25, 2022

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“A true friend is someone who thinks you’re a good egg, even if you’re cracked.” — Unknown

I hope everyone had a wonderful Easter! It is an amazing time of year.

 

The Northeast Florida Association of Realtors market stats for March 2022 show a continuing seller’s market with low available inventory and prices continuing to rise. The buyer demand remains strong.

 

The median sales price for March is $340,600 for all property types in all 6 counties of Northeast Florida. This is an increase of 3.2% from February and 24.8% from last March. The median price for a single-family home in St. Johns County jumped to $558,700. This compares with $330,000 in Duval, $345,000 in Clay, $222,000 in Putnam and $385,000 in Nassau.

 

The active available inventory for the entire market area is 2,888 properties which is down 8.0% from February and 32.7% from last March. We have 1.0 months supply of inventory which is down 24.3% from last year.

 

We continue to see new listings, but they are selling quickly with multiple offers if priced correctly. We will have to watch the market in April and through the summer to see the impact of rising home mortgage rates on demand.

 

A recent Harris Poll survey conducted for Coldwell Banker of more than 2,000 US adults shows 44% of Gen Z (18-25) and 35% of millennial (26-41) homeowners say they plan to sell their homes in the next 12 months. Many of these first-time homebuyers bought smaller starter homes that have gone up in value and they have enough equity to make a sizeable down payment on a larger home.

 

A Realtor.com housing report says the two primary motivations for selling are new familial needs (31%) and the desire for updated features (15%). The study indicates the majority of sellers planning to make a move are millennials ready to swap their starter homes for larger ones (49%). The study continues “compared to all survey respondents, higher shares of millennials want a more affordable home (34% vs. 21%) and need the sale money as soon as possible (14% vs. 11%) to help offset inflation, student loan debt, and other economic burdens.”

 

Given the projected increase in interest rates and increase in properties available for sale, it would appear to be wise to sell sooner rather than later. Additionally, the current market favors the seller with buyers agreeing in many instances to waive inspections, repairs, and pay cash.

 

If we can help you analyze your home’s value and discuss options, please let us know. We love to talk about real estate. Enjoy our beautiful weather and all the great activities outdoors this spring.

Davidson Realty Welcomes New Agents Stacy Ann Cornell and Jennie Bermudez to Team of Experts

April 19, 2022

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Davidson Realty is proud to welcome new faces to its team of real estate experts. “At Davidson Realty we are focused on giving our agents the tools they need to put their clients first. By putting people first, our clients get a personalized real estate experience from our Northeast Florida real estate experts,” shares Davidson Realty President, Sherry Davidson. Davidson Realty is delighted to introduce two new members to the family!

 

 

Stacy Ann Cornell

Originally from Toronto, Canada, Stacy spent most of her childhood on the island of Jamaica where the majority of her family was born and raised. She earned a degree in Sociology from the University of Windsor and a diploma in Early Childhood Education from St. Clair College and went on to become a Preschool Teacher, in Canada. Without hesitation, Stacy seized an opportunity to teach overseas. She spent 11 years teaching English, developing and implementing English Curriculum for schools in South Korea and Japan. While living abroad, Stacy loved going on travel adventures, and backpacking in various countries, such as Thailand, The Philippines, Fiji, and Vietnam. 

 

Stacy is no stranger to constant relocation, planned and unplanned. Her family has relocated multiple times overseas and within the United States for her teaching career and for her husband who served in the United States Air Force. She understands the process and the importance of finding a home that will accommodate and support the needs of the military family lifestyle. Upon the retirement of her husband’s service from the military, Stacy and her family found permanent residency in the RIVERTOWN Community of Saint Johns County.

 

Stacy owns and operates a mobile childcare service, volunteers as a Chairperson on the PTO, is a Team Parent for the Julington Creek T-Ball league, and is an active member in her community, hosting various activities and family events with her nonprofit organization, The Belles & Beaus of the River Society. Stacy’s long time passion for real estate, combined experience, knowledge, and education as a Preschool Teacher and business owner, provide her with valuable skills to ensure her clients receive exceptional service for their real estate needs while establishing a lifelong relationship, not only as their agent but as a friend.

 

Jennie Bermudez

Jennie Bermudez is a native Floridian, born and raised in Jacksonville, Florida. Growing up, Jennie’s father was a home building contractor and enjoyed being raised in the business. Due to her husband’s career, Jennie has been able to travel and live across the country. Life experiences along with extensive relocations made Jennie realize how important it is to have a compassionate and trustworthy Realtor. “Guiding someone through the process of buying and or selling your home is an emotional and complicated process. It is my responsibility to make your experiences as smooth and simple as possible. It will always be my pleasure and honor to accompany and help you on your journey,” shares Jennie. 

 

Jennie is a proud mother to two daughters, a fabulous son(in-law), three granddogs, and a rescue dog of her own. In her free time, Jennie loves to cook, thrift shop, and spend time with the people that mean the most to her. 

 

If you are interested in a career in real estate with Davidson Realty, call us today at (904) 940-5000.

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