Northeast Florida Market Update | July 2023

August 28, 2023

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“Love makes your soul crawl out from its hiding place.”

–Zora Neale Hurston

 

Many of you know my husband just passed away. I just want to thank everyone for the expressions of love. Our family is overwhelmed.

 

The Northeast Florida Association of Realtors (NEFAR) market stats for July show a slight increase in home prices, fewer closed sales, and slightly more inventory available.

 

The median sales price of $361,750 is 1.2% higher than June’s $357,500. As I mentioned last month, the prices bottomed out in January 2023 and continue to rise slowly.

 

The closed sales of 2,294 dropped 20.2% from June’s number of 2,873. Diana Galavis, 2023 NEFAR President said “Interest rates, the cost of goods and services, and available supply are all factors in the decline in closed sales.”

 

The 30-year mortgage interest rate is a huge factor in our market. Recently rates have been hovering around 7% and many buyers and sellers are on the sideline.

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Congratulations to our TOP Producers in July!

August 21, 2023

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As the summer heat rises, so does the success of our top sales agents, and we’re here to celebrate their achievements and share their insight.  This month we asked them what are they most excited to see being developed or “coming soon” in Northeast Florida?

 

 

 

 

 

Our Top Producer for July is Reba Barkley with over $1.8 million in closings for the month.

 

 

 

 

Reba – I’m excited about the new Jaguars complex. I’ve always wished Jacksonville had a vibrant downtown, like other major cities, that would enhance our city’s image as a “top destination” for visitors. This complex is a step in that direction!

Positive impacts of the complex include increased tourism to Northeast Florida, enhanced fan experiences, revenue through events, potentially local development, and job opportunities.  

 

Building a sense of community pride is essential. What a great location to provide residents and visitors with access to community events,  activities, and opportunities to experience the Jaguars “up close” at a new state-of-the-art facility. 

 

These draws could collectively contribute to a positive impact on the local community, tourism, business environment, and real estate market in Jacksonville.

 

 

 

 

Our Top Lister for the month is Mirtha Barzaga with over $1.7 million in closings and $440,000 in pending listing sales.

 

 

 

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Sponsor a Child, Fill a Backpack: Making a meaningful difference in the lives of local students

August 7, 2023

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Summer is coming to a close, and with it parents are preparing for another school year. It’s estimated that back-to-school supplies will cost $597 for the average student, according to Deloitte. Knowing there are so many families in need, three Davidson Realty agents hosted a community-led drive to gather supplies and sponsor local students.

 

Mirtha Barzaga, Liz Pappaceno and Reba Barkley initiated the massive effort by calling St. Johns County Schools to see how they could help. They coordinated with guidance counselors from Mill Creek Academy, Wards Creek Elementary, Crookshank Elementary, Palm Valley Academy and Valley Ridge Academy who provided lists of supplies as well as the grades and sexes of children who would benefit from the drive.

 

Barkley, a former elementary school principal, knows first-hand how important it is for students to have the supplies they need. “Supplies equip students with tools for learning,” she shared. “I want to do my part to contribute to the academic success of our local students, and with Davidson Realty, we believe in investing in the future of the next generation.”

 

The agents called on the local community to sponsor a child, donate supplies or donate money for the team to shop for items. On July 19th, they invited donors to an open house to drop off their backpacks and donations and to enjoy libations and hors d’oeuvres as a way of saying thank you. “The book bags have not only the supply list provided by the school, but a lunch box, water bottle, basic toiletries and fun stuff,” Barzaga shared, who has hosted similar supply donation drives in the past. “One of my customers brought in a book bag and was so impressed with the display of them, that as he was walking out he handed me an extra $100 to sponsor another child!”

 

       

 

Support from the community was overflowing, and the agents surpassed their goal of 75 filled backpacks. “We are putting together more bags now and think we will have 100 in total,” Barzaga said. “I have always been a firm believer in the power of giving back, especially to the community you live in. There is nothing more rewarding to me than giving.” Thanks to the generous giving of our community, and to our agents, local students will have what they need to start the year off right.

Northeast Florida Market Update | June 2023

July 24, 2023

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“Discipline is choosing between what you want now and what you want most.” Abraham Lincoln

 

 

 

The Northeast Florida Association of Realtors market stats continues to present a unique real estate market in 2023. The median sales price of $360,000 is up slightly (1.4%) from May and down 1.6% from last year. The prices bottomed out at $330,705 in January 2023 and have been steadily rising since. Prices are dictated by supply and demand. Our supply is low, and demand continues to be steady.

 

You may have seen the article in the Daily Record by Gregg Cohen with JWB Companies. He listed several factors that indicate real estate in Northeast Florida is not likely to crash.

 

  • Low inventory levels
  • Surging population growth
  • Strong job market
  • High equity levels in existing homes

 

Brian Buffini also talked about high equity levels in his recent Bold Predictions. He said nationally 39% of homes are owned free and clear, 29% have 50% or more equity in their home which leaves 32% of owners with less than 50% equity. These stats don’t look anything like the Great recession.

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Congratulations to all our TOP Producers in June and the 2nd Quarter!

July 19, 2023

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We are off to a sizzling start to summer closing out the second quarter of 2023 with a strong June finish!   It’s time to recognize our top agents who made it all happen.  We are so proud of all their accomplishments!  Here’s what we asked them this month: For anyone moving here to our beautiful first coast from out of the area or anyone visiting what would you recommend as a “Must See, Must Do” top area or top attraction to visit?

 

 

 

 

Our Top Producer for June and our Jacksonville Beach Team Top Producer and Top Sales Agent for the 2nd Quarter is Jennifer Todd with over 2.3 Million in closings and 2.3 Million in pending sales.

 

 

 

 

Jennifer – There are so many wonderful things to do and see on the First Coast of Florida.  Here are a few “Must See” places and I’m certain they will lead you to discover more fascinating places!

 

Downtown Historic St. Augustine! Stroll the streets to enjoy the history, beautiful architecture, and some of the best restaurants. I strongly recommend the Trolly Tour. You can hop on and off and the tour guides are so knowledgeable.

 

Our beaches are beautiful from Atlantic Beach and south to Anastasia Island. All of the beaches have easy access. The Guana State Park is in between Jacksonville and St. Augustine. Mickler Beach is in Ponte Vedra, Jacksonville Beach is miles long with Huguenot Beach to the north.

 

There are fishing charters throughout the area and you can enjoy the ocean fishing and Intracoastal waters… 

 

Golf, Golf, Golf!!! Depending on the level of golf you play, there is a course for you.

 

Give me a call and we can chat about all the other many options and I’m always happy to recommend a great restaurant!  

 

 

 

 

Our Top Producing Team in both closings and pending sales for June and the Quarter is The Nemethy Group with Shelley and Tim Nemethy.  They had over 6.7 Million in closings and 6.6 Million in overall pending sales in the quarter.

 

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