Real Estate Market Update

September 22, 2021

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“Fear does not stop death. It stops life. And worrying does not take away tomorrow’s troubles. It takes away today’s peace.” Unknown

It is easy to agree with the truth of this quote, but much harder to live it.

 

The Northeast Florida Association of Realtors market stats for August continue to show rising prices, continued high buyer demand, and low inventories of available homes. The most recent trend we are seeing is double-digit rent increases.

 

“Put simply, August trends suggest rents are making up for lost time. Rents remained low during some of the worst months of the pandemic, growing at a sub-2% pace from September 2020 to March 2021, which is also when for-sale home prices were growing by double-digits,” said Realtor.com Chief Economist Danielle Hale.

 

Many buyers are unable to find a suitable home to purchase and have been forced into the rental market. According to Apartment List, rents in Jacksonville have risen 19.7% since August 2020, and 4.4% since July 2021.

 

There were 3,787 new listings in August, up 5.7% from last August and 6.7% year-to-date. The builders are also adding more homes. Industry sources predict an 11% to 12% increase in housing starts for 2021 or about 1.55 million units. That would be up from 1.38 million housing starts in 2020, which was a 7% increase over 2019. (Business Journal article) Builders are still being delayed by materials like windows and appliances and labor shortages.

 

The good news for buyers is that the frenzy of competitiveness of the spring market has cooled a bit. Some sellers are still pricing their homes very high, but many buyers are no longer willing to pay the prices they were during the spring and the homes are sitting or the sellers are reducing the price. While 41.0% of homes sold over list price, that is down from 44.8% in July.

 

There were 3,424 pending sales down 2.0% from last August, but up 12.4% year-to-date. Closed sales of 3,200 were down 3.1% from last August, but up 15.6% year-to-date.

 

The median sales price of $300,000 is up around 14% month-over-month and year-to-date. The average sales price of $362,699 is up 14.2% month-over-month and 17.7% year-to-date.

 

There are 4,651 homes available for sale which is down 37.2% from last August and we have 1.4 months of supply available. Five to six months is a balanced market.

 

While we are seeing more homes come available, the buyer demand remains very strong. We should continue to see prices increase, multiple offers, and increased rental rates.

 

Please come join us on October 21st for our major fundraiser, Davidson Cares Clay Day. We support Builders Care, St. Augustine Youth Services, and Investing in Kids. Go to DavidsonCares.com and register or buy a raffle ticket for one of our great prizes.

 

We appreciate your support and referrals. Please let us know if we can assist you in any way.

The Winning Team – Davidson Realty 2020 Awards

February 19, 2021

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2020. The year of adapting to the unknown. A global pandemic, millions of jobs lost, and a volatile economy, did not stop the real estate market from being swarmed by millions of Americans hoping to take advantage of the positive market trends and record-setting numbers.

 

The Davidson Realty Team powered through the uncertainty, the “social distancing”, and changing market trends to deliver quality real estate services to their clients. “Our team at Davidson Realty continued to stay connected to our customers during the crazy Covid year we had”, shared Davidson Realty President, Sherry Davidson. Agents gracefully navigated 2020 as they were presented with multiple offer situations due to the competitive nature of the market. Along with the excellent real estate service the Davidson Realty Team was providing, they continued to serve the Northeast Florida community, when they perhaps needed it the most. “Our team organized and participated in food and toy drives, Davidson Cares Clay Day, and Deck The Chairs. The passion our team has for serving others is inspiring. With all that our team faced in 2020, I am proud that the Davidson Realty team has matched the 2019 closing volume of $100,000,000 and exceeded 2019 sales volume by 16%,” continues Sherry. With such an exceptional year for the Davidson Realty team, it is only right that their best and brightest are recognized for their accomplishments in service and performance. The success of this team is made in part by the incredible leadership team at Davidson Realty, notably Sherry Davidson and Davidson Realty Sales and Training Manager, Andrea Gallagher.

 

Last month, Davidson Realty President Sherry Davidson was named the 2020 Northeast Florida Association of Realtors (NEFAR) Circle of Honor award winner for her exceptional service and contributions to the real estate community both locally and statewide. Sherry has served NEFAR in various capacities including on its Board of Directors. She has also served on the Board of Directors for Builders Care, a charitable arm of the Northeast Florida Builders Association (NEFBA). Throughout her 30-year career in real estate, Sherry has supported real estate agent education and promoted the importance of the real estate industry’s involvement in the community. Sherry truly has led by example as she has supported various causes in Northeast Florida including NEFAR Fights Hunger and Davidson Cares Clay Day. Known throughout the First Coast as an industry leader and an authority in residential real estate, the Davidson Realty Team continues to flourish under her mentorship.

 

 

Terri Apodaca

Davidson Property Management – 2020 Most Rentals

Davidson Property Management – 2020 Most Properties Referred

5 Years of Service 

3 Million Dollars Closed

3 Million Dollars Sold

 

 

Reba Barkley

Davidson Property Management – 2020 Rookie of the Year

 

 

 

 

 

Bonnie Cherhoniak 

5 Years Service

 

 

 

 

 

Lori Burton

5 Years Service

 

 

 

Pam Lareau

5 Years Service

 

 

 

 

Kirsten Lightfoot

5 Years Service

 

 

 

 

Matt Davidson

20 Years Service

 

 

 

 

 

Delilah Salameh

2020 Sales Rookie of the Year

 

 

 

 

 

Candy Gil

3 Million Dollars Sold

 

 

 

 

 

Liz Pappaceno

3 Million Dollars Closed

3.5 Million Dollars Sold

 

 

 

 

 

Jennifer Todd

3 Million Dollars Closed

3.5 Million Dollars Sold

 

 

 

 

Caitlyn Hawkins

3 Million Dollars Closed

3 Million Dollars Sold

 

 

 

 

Margherite Myers

3 Million Dollars Closed

3.5 Million Dollars Sold

 

 

 

Lynn Whitley

4 Million Dollars Closed

4 Million Dollars Sold

 

 

 

 

Ron Savarese

4 Million Dollars Closed

4 Million Dollars Sold

 

 

 

 

Steve Rodriguez

4 Million Dollars Closed

3.5 Million Dollars Sold

 

 

Tammy Peacock

4 Million Dollars Closed

4 Million Dollars Sold

 

 

 

The Braddock Group – Michael Braddock & Sarah Poehler

3.5 Million Dollars Closed

4 Million Dollars Sold

 

 

 

 

Suzy Evans

11 Million Dollars Closed

11 Million Dollars Sold

 

 

 

Shelley & Tim Nemethy

16 Million Dollars Closed

18 Million Dollars Sold

 

 

 

 

Mirtha Barzaga

17 Million Dollars Closed

17 Million Dollars Sold

2020 Closing Agent of the Year

2020 Sales Agent of the Year

2020 Listing Agent of the Year

 

 

Sam Davidson

2020 President’s Award

 

 

 

The Davidson Realty Team is proud of all the hard work and dedication displayed in 2020 and strives to have an even more successful 2021. These achievements would not be possible without the trust and loyalty of the Davidson Realty clients. Thank you for trusting us as your real estate experts. If you are interested in experiencing the Davidson Realty difference, contact us at (904) 940-5000.

Davidson Cares adds Builders Care as Clay Day beneficiary

September 19, 2019

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We are thrilled to announce the addition of Builders Care as beneficiary of our 4th annual Davidson Cares Clay Day event on Thursday, October 24! Other sponsored charities include St. Augustine Youth Services (SAYS) and Investing in Kids (INK!).

 

The charitable arm of Northeast Florida Builders Association (NEFBA), Builders Care was created in 2001 in conjunction with HabiJax to fill a very specific gap in services. While HabiJax builds homes for those in need, Builders Care focuses on home repairs for low income and elderly residents in Duval, St. Johns, Nassau, Clay and Baker counties.

 

“So many people have homes that desperately need repairs,” said Justin Brown, Executive Officer of Builders Care. “Many of them are older widows, many disabled, who need roof repairs or access ramps. We are the boots on the ground helping to keep them in their homes.”

 

Read more

Jacksonville Real Estate Trends in March – Highest Number of Contracts Written Ever!

April 21, 2017

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“I saw the angel in the marble and carved until I set him free”. Michelangelo

I hope you had a wonderful Easter and are enjoying the awesome spring weather! The Northeast Florida housing market is heating up according to the Northeast Florida Association of Realtors market stats.

The pending sales for March jumped 10% from last March to 2,893. This is highest number of contracts written in any month including the peak of the market in 2005. Read more

Davidson Realty is Working with The Northeast Florida Builders Association to Market Two Affordable Jacksonville Homes Recently Renovated as Part of NEFBA’s Annual President’s Project

September 23, 2011

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Academy-1Davidson Realty is honored to be chosen by the Northeast Florida Builders Association (NEFBA) to market two affordable single-family homes recently renovated by NEFBA as part of its community-focused President’s Project.  The homes, which are part of Jacksonville’s Neighborhood Stabilization Program, are being offered for $85,000 and $110,000 respectively and buyers may qualify for up to $40,000 in down payment assistance. Qualified buyers may purchase one of these homes for $500 down.

 The refurbishment of the homes was lead by NEFBA President Michael Bourré and his company Bourré Construction Group. “Given the current economic and market conditions, we wanted to support efforts to help existing neighborhoods right here in Jacksonville that were hit especially hard with foreclosures and neglect,” said  Bourré.  “This is the first time the annual NEFBA President’s Project has renovated an existing home rather than build new and the response has been very positive.” The annual NEFBA President’s Project is an opportunity for the group to both give back to the community and raise funds for its own educational and growth efforts.

Read more

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