The Things You Might NOT Know About the Real Estate Market in Northeast Florida

June 3, 2021

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The real estate market is notorious for its ups and downs, however, this real estate market is unique. Inventory is low, demand is high, and homes are FLYING off the market faster than ever! With so much uncertainty in this unprecedented market, it’s more important than ever to have a trusted real estate expert by your side to navigate the market.  Northeast Florida real estate expert Sherry Davidson, President of Davidson Realty, is answering some of the most common real estate questions from the community. 

 

How can I figure out how much my home is worth? 

Your home’s value is whatever the market is willing to pay. The market is changing very rapidly. It is in your best interest as a home seller to have a trusted real estate expert that knows the current market by your side to help you place a value on your home. Our team is selling homes daily and has the knowledge to ensure your home sells for TOP DOLLAR! 

 

Should I sell my home before buying a new one? 

The answer to this question has always been, YES! However, in the current real estate market conditions, the answer depends on your situation. If you sell, you need to have a rental home lined up or have the ability to live with family until you find your next home. If you put a new home under contract, you will probably not get a contingency to sell your existing home. You will risk losing your escrow deposit if you can’t close or you will have to acquire a bridge loan, extra savings, or a gift to close on the new home before you have the closing on your existing home.

 

Is World Golf Village expanding? 

With a few small exceptions, the only portion of World Golf Village not built out is Trailmark. There are new phases of homesites still becoming available in Trailmark.

 

What is the next go-to area to move to in Northeast Florida? 

There are so many incredible communities in Northeast Florida. However, Silverleaf is extremely popular right now. Silverleaf is located in highly desired St. Johns County, Florida, and just minutes from various shopping centers, beaches, golf courses, and entertainment.   The community will also be home to a first-class amenities center for residents to enjoy! 

 

If you are interested in buying or selling a home or have further questions about the market, contact Davidson Realty at (904) 940-5000.

Real Estate Market Update

January 21, 2021

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“Have enough courage to start and enough heart to finish.” – Jessica N. S. Yourko

 


This quote seems like a wonderful way to begin a new year that looks to be a wild ride. All predictions are for continued strong demand for homes in the northeast Florida area and nationwide.

 

I have huge respect for Dr. Lawrence Yun, NAR’s Chief Economist. At a recent event co-presented by RISMedia and the National Association of Realtors (NAR), Dr. Yun indicated that the momentum from the second half of 2020 will continue into 2021. His predictions for the new year are interest rates at historic low levels, increased job creation due to the stimulus package recently passing and vaccines being widely distributed, improved unemployment rate, and more housing inventory.

 

He also expects the following:

– Strong home sales momentum, with sales up roughly 8 to 12 percent in 2021 vs. 2020

– Home prices rising more moderately, about 4 percent nationwide

 

The demand for homes in our area remains strong, but the supply of homes continues to decrease. There were 4,549 homes available for sale in December 2020 down 46.9% from the 8,569 available in December 2019 according to the Northeast Florida Association of Realtors market stats.

 

There is 1.5 months supply of homes for sale in our area down 53.1% from last December’s 3.2 months of supply. A balanced market is 5 to 6 months of supply. If you are buying or selling a home, you need guidance from a professional. We are seeing crazy things happening in this market on both sides of the transaction.

 

– Pending sales of 2,685 were up 25.7% December over December and up 12.9% year over year.

– Closed sales of 3,187 were up 15.2% December over December and up 8.2% year over year.

– Median sales price of $267,000 is up 11.3% December over December and 9.0% year over year.

– Average sales price of $331,242 is up 14.6% December over December and 11.8% year over year.

 

New home construction has increased and will help with the supply of homes, but builders are facing challenges also. From a blog posted today on the National Association of Homebuilders site, “Rising material costs led by a huge upsurge in lumber prices, along with a resurgence of the coronavirus across much of the nation, pushed builder confidence in the market for newly-built single-family homes down three points to 83 in January, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. Despite the drop, builder sentiment remains at a strong level.” Any number over 50 indicates that more builders view conditions as good than poor.

 

Thank you for all the support of Davidson Realty and Davidson Property Management. If we can assist you with any of your real estate needs, please let us know.

Jacksonville Real Estate Trends in July – Jacksonville Ranked #1 in Nation for Investors on a Budget

August 23, 2016

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“Winners focus on winning. Losers focus on winners.” This great quote was over a picture of Michael Phelps from the Rio Olympics.

The national real estate market is positive. Jonathan Smoke, realtor.com chief economist says “these factors have made this summer one of the best in a decade. The highest consumer confidence for a July since 2007, the highest nominal home prices for a July on record, and the lowest July mortgage rates on record.” Read more

Jacksonville Real Estate Trends in May – Find Out What The Experts Are Saying

June 17, 2016

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“If we ever forget that we are One Nation Under God, then we will be a nation gone under.” Ronald Reagan

I couldn’t resist a little Ronald Reagan with the 4th of July coming up so soon. I wish you a wonderful holiday.

The May numbers from the Northeast Florida Association of Realtors continue to indicate a healthy real estate market in our area. The pending sales of 2,765 are up 6.5% over the previous May and 5.5% year to date. There were 2,393 closings in May which is down 1% from last May, but year to date closings are up 5.1%. Read more

Experienced Pro Nick Hall Joins Davidson’s Real Estate Team

December 20, 2013

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We are thrilled to announce the addition of Nick Hall to our outstanding roster of real estate professionals!  Nick comes to us with a demonstrated passion for helping people and a thorough understanding of the Northeast Florida real estate market. Says Davidson Realty President Sherry Davidson, “Throughout his entire career, Nick has always worked to help people in a meaningful way. His clients at Davidson will certainly benefit from his knowledge and experience.”

Nick earned a degree in Biochemistry from Harvard University and completed three years of graduate studies in medical sciences at the University of Florida. Prior to launching his real estate career, he garnered more than 25 years of experience delivering innovative products and services to the medical community, which included years in teleradiology (utilizing internet and cloud connectivity to transmit radiological images) and telemedicine with Siemens Medical Systems. In fact, Nick’s efforts to bring a new PACS solution to the U.S. market and Mayo Clinic in Jacksonville helped the hospital become the first totally filmless and paperless medical institution in the U.S. Read more

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