Davidson Realty, Inc.

Northeast Florida Real Estate Market Update

March 21, 2022

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Posted by in News

“Life will always throw you curves, just keep fouling them off. The right pitch will come, and when it does, be prepared to run the bases.” – Rick Maksian

I love all sports, but baseball is my favorite. My heart is happy now that the owners and players have come to an agreement. Go Braves!

 

Even with all that is happening in the world right now, there is a huge demand for real estate in Northeast Florida, unfortunately, the supply is continuing to decline. As a result of the supply shortage and overall inflation, the prices keep going up.

 

The Northeast Florida Association of Realtors market review for all property types in all 6 counties shows a median sales price of $329,995 which is up 25.3% over last year and 3.6% over last month. In February, 32.5% of the closings were over list price. The median days a property was on the market is 16 days which is down from last year and last month.

 

There were 2,818 new listings; however, there were 2,987 pending sales. We sold more homes in February than came on the market. There is 1.2 months supply of inventory.

 

The Northeast Florida Builders Association reported 1,332 single-family home building permits were issued in February which is an increase of 150 over last year. St. Johns County issued 612, Duval 474, Clay 144 and Nassau 102. The builders continue trying to meet the buyer demand.

 

An interesting article from Florida Realtors says “Nationally, a homeowner who purchased a single-family existing home 10 years ago at the median sales price of $162,600 is likely to have accumulated $229,400 in housing wealth. Of this wealth gain, 86% can be attributed to price appreciation.” Lawrence Yun, the National Association of Realtors Chief Economist is quoted in another article talking about home prices being a great inflation hedge.

 

I hope you are adjusting to Daylight Savings time and get to enjoy some basketball and baseball this spring. Please let us know if we can help you with any real estate needs. We are always happy to share our knowledge and talk about options.

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Congratulations to all our Top Producers for February!

March 14, 2022

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Posted by in Uncategorized

Davidson Realty had a great February as this brisk real estate market continues in Northeast Florida. I want to congratulate our top producers of the month.

 

Our Top Producer with the most closings and our Top Sales Agent for the month is Reba Barkley.  Reba had over $1 million in closings and sales for the month. Reba’s customers love her willingness to go the extra mile for them. She is a true professional.

 

 

 

 

Our Top Lister with over $1 million in listings sold and $2 million in total sales is Mirtha Barzaga. Mirtha finished 2021 as our Triple Crown winner. She was our Top Producer, Top Lister and Top Sales for the company.

 

 

 

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Official Groundbreaking of WGV Office Park Begins Countdown for Much-Needed Office Space in St. Johns County

March 7, 2022

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Posted by in Events, News

Thursday, February 17 was an exciting day not only for the Davidson Companies but for the entire St. Johns County community as the ground was officially broken on the new WGV Office Park development!  Located at the entrance of the King & Bear, this five-building office park will total more than 44,000 square feet of much-needed office space in the area.

 

St. Johns County Commissioner, Jeremiah Blocker joined Davidson Realty and community supporters to celebrate the groundbreaking ceremony. During his remarks, Blocker shared his enthusiasm for the project, “This is what makes St. Johns County great. It’s businesses like this. So many people are going to have their dreams realized through this effort. I’m honored to have the Davidson family as friends. Thank you to them for everything they do for the community.” 

 

The anticipation for this groundbreaking has been building ever since the development was conceived. “We are incredibly excited to kick off this amazing project. We believe this will be another great addition to the World Golf Village. This project will bring much-needed services to our community” shares Sam Davidson, Realtor® at Davidson Realty and Vice President of Special Operations for Davidson Development. The addition of the WGV Office Park will provide the residents of World Golf Village a greater opportunity to work close to home and serve their friends, family, and neighbors. 

 

Occupants of the office park will have a space built to last as the buildings will have concrete block walls and Hollow Core System roofs. They will also be just across the street from Publix-anchored Shoppes at Murabella and a surrounding community that is growing fast both residentially and commercially. This project has been designed with spaces starting at 1,120 square feet and going up to 12,000 square feet, which allows for the ability to accommodate companies of all sizes.

 

If you are interested in owning an office condo in the new WGV Office Park, contact Sam Davidson at (904) 502-2397 or jsdavidson@davidsonrealtyinc.com or Tim Nemethy at (904) 553-6194 or tnemethy@davidsonrealtyinc.com

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Northeast Florida Real Estate Market Update

February 25, 2022

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Posted by in News

“I will love the light for it shows me the way, yet I will endure the darkness because it shows me the stars.” Og Mandino

 

The Northeast Florida Association of Realtors market review shows some moderation in median sales price increases since November. The median sales price of $320,000 is still 25% higher than last January. Most economists are predicting 3% to 5% price increases nationally this year.

 

The percentage of closings over list price has also stabilized for a few months at around 30% of closings over list price. We are beginning to see more sellers pricing their homes substantially over market price. Those homes sit on the market longer than the homes priced correctly.

 

The 2,126 closed sales are down 8% from last year and the 2,857 pending sales are down 3%. You may recall that December 2020 and January 2021 had inflated post-COVID lockdown demand. I would like to add that we are seeing new construction closings getting pushed out due to supply constraints and labor shortages. Additionally, low inventory is still holding back many buyers.

 

There is active inventory of 3,105 counting all 9 property types which is down 35.1% from last year. There is active inventory for single-family homes of 2,389 for our entire market including 6 counties.

 

The builders are trying to keep pace with demand. January 2022 had 1,457 permits which set a record for the number of permits issued in a single month. The annual total of permits in 2021 was 16,138 compared to 12,555 in 2020.

 

A recent article from Lawrence Yun with the National Association of Realtors stated “Home sales are at their best in 15 years. Once all the data are tallied up, more than 6 million existing homes and about 800,000 newly constructed homes will have been sold in 2021 – the best performance since 2006.”

 

To sum up, demand is still very strong, supply is very low and prices haven’t been rising as quickly in the last few months.

 

Thank you for all the support and referrals! If you know anyone we can help to sell, buy or rent, please let me know.

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Congratulations to all our Top Producers for January 2022!

February 9, 2022

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Posted by in Uncategorized

The Top Producer with the most closings for the month with over $1.1 million is Mirtha Barzaga. Mirtha is also our top listing agent with 3 listings sold in January. With all her community involvement and helping customers, Mirtha makes each customer feel cared for and that they are the only customer she is working with.

 

 

 

Our Top Sales agent for January is Caitlyn Hawkins with $1.3 million in sales. She is also our top Jacksonville Beach Team sales agent and top producer. Caitlyn and her family love living at the beach and experiencing all the wonderful outdoor activities. If you want to know more about kid friendly activities in our area, Caitlyn is an awesome resource.

 

 

 

The Top Producing and Top Sales Team for January is the Nemethy Group. Tim and Shelley Nemethy also enjoy the beach lifestyle of surfing and boating. They enjoy working by referral and are familiar with new construction as well as existing homes in all areas of Northeast Florida. Tim is also selling the office condos that will be breaking ground soon at the entrance to the King & Bear.

 

 

 

The buyer demand remains very strong. Please let one of our great agents know if you are thinking about selling your home. They will guide you to get your home ready for sale and help you with pricing and strategy to get the best price for you home.

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