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.

Cool Down Your Hot Summer Day with Jim’s Famous Pasta Salad!

July 26, 2011


pasta saladJim Davidson has dozens of amazing recipes and this one is right up there with the best! It’s definitely Kristen Calhoun’s favorite. She is our Listing and Marketing Coordinator and also one of Jim’s daughters. Jim made a huge batch for a group of us that participated in Relay for Life this year. It was the perfect treat throughout a very hot day. We hope you love it as much as we do! 


1  Green pepper (Bell) chopped
1  Red pepper chopped
1  Yellow pepper chopped
1  Bunch scallions (green onions) chopped
1  Cup chopped parsley
1  Cup sliced green olives
1  Cup sliced black olives
1  Cup sliced mushrooms (jar)
1  Tablespoon dried oregano
1  Teaspoon dried basil or optional 1 cup fresh chopped basil (which is better)
½  Teaspoon thyme
2  Teaspoon chopped or minced garlic (jar)
½  Cup olive oil
½  Cup Italian dressing
4  1 lb. packages of pasta (I use a mixture of 4 or 5 types of pasta but always include bow tie)

Put all ingredients in a bowl with olive oil and Italian dressing.  Mix well.  Cook pasta until done, but not mushy.  Run cold water over pasta until cool.  Drain pasta and add to mixture then stir.  Use additional Italian dressing to desired consistency.  Sprinkle with parmesan cheese.  Serve cold. I like to serve with my tuna salad.



Jim Davidson Shares his Favorite Holiday Dessert Recipe!

December 22, 2010


Bananas_FosterBananas Foster – Serves 6

• 6 Bananas (cut in half and sliced long ways)
• ¾ lb Light Brown Sugar
• ¾ cup Banana Liquor
• ¾ cup Light Rum
• ¾ stick Light Salted Butter (cut in sections)

In skillet (I use a copper clad oval skillet) add light brown sugar, butter (cut in sections) and banana liquor. Heat it up until bubbling, constantly stirring. Add bananas and gently turn (make sure not to break a part). Only cook about one minute per side. Add white rum and get mixture bubbling again and light the rum on fire. I use a grill lighter. The flame will be blue and burn of all the alcohol. Serve over Bluebell vanilla ice cream.

This dessert is always a big hit and will satisfy even the sweetest tooth!

Merry Christmas

Davidson Realty