Davidson Realty, Inc.

Northeast Florida Market Statistics for September! Is Increased Home Pricing in Our Future?

October 24, 2011

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Posted by in Northeast Florida Market Trends

“Capital isn’t scarce; vision is.” Sam Walton

This is a profound statement by Sam Walton and very appropriate today. There are a lot of bright people focused on making it through the day instead of looking forward.

The one consistent story in the market statistics produced by the Northeast Florida Association of Realtors for September is the inventory of homes for sale continues to drop. There were 16,280 active properties for sale in September 2010 and there are 32% less properties (11,011) in September 2011.The inventory has dropped every month in the past year. The months supply of inventory is at 7.7 months supply compared to 11.6 months in September 2010, a 34% decrease. The inventory reductions we are seeing should lead to increased pricing in the future.

Pending sales in September 2011 are up 24% over September 2010. The year to date pending sales for  2011 are up 7% over year to date 2010. The North Florida market has averaged 1,450 pending sales a month for the last 12 months compared to a 1,385 average for the previous 12 months.

There were 1,315 closed sales in September 2011 which is 1% more than September 2010. The year to date 2011 closings are also up about 1% over last year. The closings in September were down a little from the previous 6 months for the north Florida market; however Davidson Realty had more closings in September than any other month this year except for June.

The median sales price in September 2011 of $124,000 is almost 5% less than $130,000 median sales price in September 2010. The month to month median price fluctuates every month and is down in September. However, the average sales price of $172,722 in September 2011 is up 4% over the average sales price of $165,747 in September 2010.

The average sales price for single family homes in the following zip codes is:
          Up slightly to $213,300 in 32092/World Golf Village area
          Up slightly to $261,084 in 32095/Palencia area
          Down slightly to $268,012 in 32259/Julington Creek area
          Up slightly to $604,325 in 32082/Ponte Vedra area

We are in the beginning stages of a real estate recovery. After 4 years of declining sales and closings, our Company is $7 million ahead of 2010 in year to date closings. It may not be large but it is sure nice to see a positive trend in pending sales, closings and inventory.

Please let me know if I can assist anyone you know with their real estate needs. Enjoy the World Series, it will be a long time until spring training and baseball are back.

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About the Author
Sherry Davidson
President of Davidson Realty

Since launching Davidson Realty in 1989, Sherry Davidson has built the firm to include nearly 60 agents and exceed $100 million in annual sales. She is known throughout the First Coast as an authority on all things residential real estate, having served on the Board of Directors for Northeast Florida Association of Realtors, Florida Realtors® (a division of the National Association of Realtors), and Builders Care (charitable arm of Northeast Florida Builders Association).

Thanks to Sherry’s leadership, Davidson Realty has been recognized as one of the state’s Best Companies to Work For (Florida Trend Magazine), as well as one of the region's Best Places to Work and 50 Fastest Growing Companies (Jacksonville Business Journal). Get to know Davidson Realty’s talented team of agents by clicking here or call us at (904) 940-5000.

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