Davidson Realty, Inc.

Northeast Florida Real Estate Market Update

July 18, 2022

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Posted by in News

“If you don’t like something, change it. If you can’t change it, change your attitude.” — Maya Angelou

Every headline seems to be negative about the economy and the housing market. If we can’t change the situation, we need to change our attitude about it.

 

This morning we saw that the Consumer Price Index (CPI) rose 9.1% from a year earlier. Housing has the largest impact of any input on the CPI at roughly 40%. The Federal Reserve is very focused on bringing down inflation. As such, they are determined to bring down housing prices by raising interest rates.

 

The June market review from the Northeast Florida Association of Realtors does show signs of the market slowing. Closed and pending sales are down this month and inventory has increased. However, the median sales price for all property types in Northeast Florida of $369,229 continues to rise. It is up 23.1% over last year and 2.6% over May.

 

Experts are not expecting prices to decline but rather that they may increase at a more moderate rate. Forecasts from seven major industry groups were predicting an average of 8% increase in prices for 2022.

 

The median days on the market increased from 13 days to 19 days. This is still very low compared to historical data.

 

The closed sales of 2,968 is down 18.8% from last year and 3.1% from May when there were 3,062 closed sales. Pending sales of 2,748 are down 19.4% from last year and 11.6% from May’s 3,109.

 

The active inventory is 5,508 homes up 15.2% from last year and 20.6% from May’s 4,566. This equates to 1.9 months supply of homes up 24.5% from 1.5 months in May.

 

This is good news for buyers as they have more homes to choose from and not as many competing offers. Sellers may see their home stay on the market a little longer and not have as many offers, but there is still strong demand and low inventory.

 

If you have a change in your circumstances and need to buy or sell, don’t let all the negative headlines keep you from making the correct life decisions. Enjoy your summer and please let us know if we can assist you in any way.

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Congratulations to all our Top Producers for June & the Second Quarter!

July 13, 2022

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Posted by in News

It was not just the weather heating up here in Northeast Florida, June was another sizzling month for our Davidson Realty team finishing the second quarter of this year very strong!  We are especially proud of our top performers who have been working tirelessly to help people buy and sell property in our local market and beyond. Enjoy our Q & A with these special real estate advisors!

 

 

 

Our Top Producer (Closings) for June and the quarter as well as Top Overall Sales for June and Top Buyer Sales for the quarter is Mirtha Barzaga.  Mirtha had over $7.4 Million in closings to end the quarter on a high note.

 

 

 

Q&A with Mirtha:

 

Q1 – In your opinion what’s the coolest design trend you are seeing in homes today?

Mirtha – Flooring has become a big trend, the vinyl plank or wood tile throughout the house is the best way to go.  Painted cabinets are a big trend as well as quartz counter tops and outdoor design living spaces.

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Northeast Florida Real Estate Market Update

June 29, 2022

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Posted by in News

“My father gave me the greatest gift anyone could give another person, he believed in me.” Jim Valvano

 

The Northeast Florida Association of Realtors (NEFAR) market stats for May are not showing many changes in the local real estate market, but I believe we will see a moderation in the market in future reports.

 

The median sales price for all property types in all 6 counties is $360,000 which is up 24.6% over last year and 2.9% over April. Lawrence Yun, chief economist at the National Association of Realtors (NAR) said recently “Home prices are still hitting new highs, but the pace of appreciation is not likely to continue. It’s just inevitable that home price appreciation will slow down in upcoming months.”

 

We are seeing sellers reduce prices if they are starting out with unrealistic pricing. Fewer buyers are offering extra incentives such as waiving appraisal contingencies and seller closings costs. I agree that we will see slower price appreciation in the coming months.

 

There were 41.3 % of the closings over list price. This is up 13.2% from last year and up slightly from 41.2% last month. This percentage should also come down in the future.

 

There were 4,002 new listings in May up 4.4% from last year and 7.1% from April. The active inventory of homes available were 4,233 which is still down 4.4% from last year but up 11.2% from last month. The months supply of inventory moved from 1.3 months in April up to 1.4 months.

 

I continue to see headlines of the number of resales and new homes dropping; however, it is hard for me to really understand clearly because inventory is so constrained. It is difficult to know if there would be more sales if there were more homes available.

 

There were 2,936 closed sales in May which is down 14.8% from last year and up 0.4% from April. There were 3,097 pending sales which is down 14.3% from last year and up 1.4% from April.

 

To summarize, while the supply of homes available and the days on market are still very low and home prices continuing to increase; the market is showing signs of change with higher interest rates and the stock market moving into bear market territory. In my opinion, It is very hard to predict the amount of change we will see since we are still in such a low inventory situation.

 

Happy Independence Day! Have a wonderful summer and please let us know if we can help you with any real estate needs.

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Congratulations to all our Top Producers in May!

June 16, 2022

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Posted by in News

May was another strong month for Davidson Realty with so many of our agents helping their customers make moves in this fluid housing market!  So, it’s especially important to us to recognize and congratulate our top performers who made such an impact!  In addition, we would love to share with you a little bit about them and what makes each of them so fantastic personally and professionally. Enjoy our Q & A of these great real estate advisors!

 

 

Our Top Producer (Closings) and Overall Top Sales Agent for May is Mirtha Barzaga with over $1.7 million in total closings and $1.4 million in overall sales for the month.

 

 

 

 

Q&A with Mirtha:

 

Q1 – What do you like best about living here in Northeast Florida?

Mirtha – World Golf Village in Northeast Florida is where l live and sell the most, it’s centrally located between Jacksonville, Old St Augustine, Daytona, and the beaches. To the north there is access to the Jacksonville work force as well as sports and theaters.  To the south you have the Old City, the beaches, theaters, and other attractions.  It is also a close commute to major airports like Jacksonville International Airport and Orlando where you can take day trips to the amusement parks.

 

Q2 – What is your favorite local restaurant and favorite dish to eat there?

Mirtha – Columbia Restaurant is a great place to entertain friends and family, my favorite there is Paella a la Valenciana and flan for dessert.

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Davidson Realty Welcomes New Agents Theresa Connolly, Sharon Mathis, Maurkee Ragin, and Molly Austin to Team of Experts

June 15, 2022

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Posted by in Agent Feature, News, Staff

Davidson Realty is constantly welcoming new faces to its team of real estate experts as they continue to be the go-to brokerage in Northeast Florida. The team at Davidson Realty is proud to welcome four new members to their family. 

 

Theresa Connolly  

Theresa Connolly is proud to be a part of the Davidson Realty team. In 2014, Theresa relocated to the First Coast from Philadelphia. As soon as she explored St. Augustine it was love at first sight. With a background in account management and sales training, Theresa strives to fulfill the needs of her client. She looks forward to sharing her passion and active involvement in the local real estate market. “Theresa is ready to earn your trust while helping you achieve your real estate goals,” shares Davidson Realty President, Sherry Davidson. “I have a feeling Theresa will make many lifelong friendships in the process.”

 

Sharon Mathis

With more than twenty years of experience in both new construction home sales and seller and buyer representation, Sharon Mathis is joining the team of real estate experts at Davidson Realty. Sharon’s professional experience combined with her extensive knowledge of the Northeast Florida area will be a true advantage when helping clients purchase a home or investment property. Sharon is a long-time First Coast resident and has worked in Orange Park and the Ponte Vedra Beaches area. “Sharon has sold homes across Jacksonville, from Avondale to the beaches! Sharon’s knowledge of the area along with her passion will be true assets to her clients,” shares Davidson. 

 

Maurkee Ragin

Maurkee Ragin joins the Davidson Realty team eager to help his clients find their first home, second home, or home of their dreams! Growing up in a military family, Maurkee has not only had a few homes across the country, but was taught at an early age the importance of leadership, ethics, integrity, and selfless service. He has continued to develop these values through the Florida Army National Guard and is now one year away from earning his Bachelor of Science degree in Mechanical Engineering from the University of North Florida. “Maurkee is grounded and focused on the needs of his clients. He is professional and we are proud to have Maurkee represent the Davidson Realty brand,” continues Davidson.

 

Molly Austin

With a vast experience in real estate, Molly Austin joins the Davidson Realty family ready to serve her clients. Molly began investing in real estate in 2005 before starting her own property management company that specialized in commercial properties in 2013. Through these experiences, Molly has always wanted to become a REALTOR ® and chose the Davidson Realty team through a ladies’ network at the Jacksonville Clay Target Sports called Belles with Shells. Molly has a passion for missions and animals. She is a long-time sponsor and team leader for Faithful Servant Missions and is a board member for the Wildlife Rescue Coalition of Northeast Florida. “Molly comes to Davidson Realty with wonderful experiences working with our community. We are proud to share not only a love for real estate with Molly but excitement to serve our neighbors as well,” shares Davidson. 

 

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

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