Real Estate Market Update

August 23, 2021


“Your reputation is what people say about you. Your character is what God knows about you.” Bobby Bowden


Whether an FSU fan or not, most people respect and love Bobby Bowden.


The Northeast Florida Association of Realtors market stats for July have a few interesting twists. Prices continue to rise, pending and closed sales are down compared to July 2020, and new listings are up.


New listings of 3,915 are up 6.9% month over month and 5.3% year to date. The inventory of homes for sale of 4,668 is up slightly from the June number of 4,586. It is still down 40.6% from last July. The months supply of inventory is at 1.4 months which is the same as June but down 50% from last July. Since 5 to 6 months supply of inventory is a balanced market, we are still in a seller’s market.


There were 3,287 pending sales in July down 10.6% from last July. However, pending sales are up 13.4% year-to-date. There were 3,149 closings in July down 16.2% from last July but we are up 16.7% year-to-date. The month-to-month comparisons are difficult to interpret because last June and July were the two highest months for sales last year and July was the highest month for closings as a result of the slowdown in April and May 2020 due to Covid.


NAR’s chief economist, Lawrence Yun is predicting interest rates to increase to 3.3% by the end of the year on 30-year fixed rate mortgages and average 3.6% in 2022. He predicts existing-home sales will decline marginally from 6 million in 2021 to 5.99 million in 2022.


Dr. Yun also predicts housing starts will improve to 1.65 million in 2022 from 1.565 in 2021 and existing-home prices will increase at a slower pace of 4.4% in 2022 compared to 14.1% in 2021.


The July median sales price is $303,600 up 15% month-over-month and 13.7% year-to-date. The average sales price is $381,499 up 18.4% month-over-month and 18.6% year-to-date. An amazing 45.6% of listings sold for an amount over list price.


It does appear the speed of the market is slowing a little and there may be more opportunities for first-time homebuyers and buyers using FHA or VA loans. Sellers were seeing so many cash offers and conventional loans, that many didn’t want to accept government backed loans because of their inflexibility. The market calming down a little will be good for everyone.


Please take a minute to go to and sign up for Clay Day on October 21st or buy a ticket to one of our raffles. We have our YETI cooler full of alcoholic beverages and tickets for 8 people at Concerts for a Cause which is an amazing event watching live music outside.


Have a great Labor Day holiday and enjoy the rest of your summer. Please let us know if we can help you with any real estate questions.

Davidson’s Delores West Featured on WJCT’s Closing The Loop

July 6, 2015

Posted by in News, Staff

Davidson Realty is home to so many fascinating people who are active in the First Coast community.

One of those is Delores West, our front desk receptionist and, in many ways, “the voice” of Davidson Realty. Whenever a call comes in, Delores’ cheerful voice is the one they hear. In fact, her voice was recently featured on a segment of WJCT’s Closing The Loop, a program that presents personal stories from people throughout the First Coast.

In her interview, she opens up about her journey and discusses one of her many talents—helping people. She says, “When people are talking to me, I really listen to what they’re saying, to find out what their need is and if I can help them. I have the heart of a servant.” Read more

Davidson’s Quarterly Referral Program is Back! Enter to Win a New Year’s Eve Party for 8!

October 31, 2014


Davidson Realty’s Quarterly Referral Program is back with our “Bling in the New Year” basket, which includes everything you’d need to throw the best New Year’s Eve Party for eight! The referral basket program was started to thank our friends and customers for all the great business referrals we receive. Over 70% of our business comes from happy customers! Anyone who refers a buyer, seller, tenant or home to be rented from now until December 29th will be entered to win.

The basket is packed full of fun New Year ’s Eve garb and tableware including: Read more

Here’s to 25 Years of Excellence in Northeast Florida Real Estate!

July 28, 2014

Posted by in News

Between winning awards and achieving excellent results, we have had many reasons to celebrate lately – and we now have one more. Congrats to Davidson Realty on reaching its 25th anniversary!

Created as part of the Davidson Companies, Davidson Realty was launched in July 1989 by partners Jim and Sherry Davidson and Eduardo Gil to provide a full spectrum of real estate services. Read more

Harlem Wizards Event Delivers Nothing But Net (Proceeds for Pacetti Bay)!

June 3, 2014


We are delighted to announce that the Harlem Wizards event on Friday, May 23 at Pacetti Bay Middle School was a huge hit! The exhibition game, title sponsored by Davidson Realty and hosted by Pacetti Bay’s PTSO, sold about 500 tickets and raised approximately $5,000 for the school!

Davidson’s own Shelby Heinemann also helped out by securing the Renaissance Hotel at World Golf Village to house the Wizards players during their stay. Read more

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