Davidson Realty, Inc.

Northeast Florida Real Estate Market Update

December 21, 2022

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Posted by in News, Northeast Florida Market Trends

“Love the giver more than the gift.” – Brigham Young

A quote to live by whether a human giver or our one true holy God.

 

The Northeast Florida Association of Realtors market stats for November continue to show the median sales price stabilizing. The number of closed sales and pending sales are down, and the active inventory is up slightly. I believe everyone was shocked by the speed of the change in the real estate market.

 

The median sales price is $340,000 for November which is down 4.2% from the previous month and up 5.3% from the previous year. The uncertainty and volatility in housing market metrics have economists and forecasters predicting divergent outcomes for the 2023 national housing market.

 

· Redfin Corp predicts home prices will fall 4%.

· Zillow Group Inc. predicts home prices to remain flat.

· Realtor.com predicts home prices to appreciate 5.4%.

· Lawrence Yun, chief economist National Association of Realtors predicts prices to increase 1%.

· Fannie Mae is predicting prices to fall 1.5%.

· Capital Economics is predicting a fall of 8%.

· Wells Fargo & Co. is predicting a 5.5% decline.

 

I think everyone agrees in some areas prices will increase and others decrease, but it doesn’t look like the gloom and doom headlines we are seeing.

 

All the predictions I have seen are for fewer transactions in 2023. Realtor.com is predicting the Jacksonville MSA to have 3% fewer sales in 2023, but prices will increase 4.6%.

 

The active inventory is 7,019 which is up 1.3% from the previous month. The months supply of inventory is 3.8 months which is up 32% from 2.8 months in October. It appears many buyers and sellers are staying put right now.

 

Soaring rents have forced millions of millennials to move back in with their parents. A recent survey by Pollfish of 1,200 people estimated one in four millennials are living with their parents. That’s equivalent to about 18 million people between the ages of 26 and 41. Some economists are predicting a great looming demand as household formation will rise and there are not enough housing units at affordable prices.

 

As we enter 2023, we will see which predictions are the closest. Please let us know if you are considering an investment property or need to buy, sell, or rent. Have a Merry Christmas and a Happy New Year!

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Cowford Title, Leigh Insurance, and Chris Austin Support Davidson Cares Clay Day

December 19, 2022

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Posted by in Community Involvement, Events, News

Davidson Cares Clay Day is a day to support organizations in Northeast Florida that are making a tremendous impact in the community. For seven years, this annual event has continued to bring together community leaders who are united in making the First Coast a better place for all. With the generous support from sponsors, Davidson Cares Clay Day is able to maximize fundraising efforts to make sizeable impacts on each of the organizations that benefit each year. 

 

Cowford Title

For the last two years, Cowford Title has been the Davidson Cares Clay Day cart sponsor. Davidson Realty is proud to use Cowford Title services regularly and work with their team closely. “The team at Cowford Title has great hearts. They love to support the community, specifically foster children and other worthy local causes,” shares Sherry Davidson, President of Davidson Realty. Cowford Title is people focused and, like Davidson Realty, values relationships. “Cowford Title decided to continue to be the cart sponsor for Clay Day because Davidson Realty has been such a constant advocate for Builders Care over the years. Cowford Title is proud to support entities, like Davidson Cares, which has a long-standing record of giving back to our local community and supporting non-profit entities like Builders Care,” shares Chad Dean, President of Cowford Title.

 

Leigh Insurance 

In addition to the sport shooting event during Davidson Cares Clay Day, a popular and exciting element is the raffle items. This year, Leigh Insurance generously sponsored the gun raffle and cigar table. This raffle item was a new addition this year, but one that caught the eye of participants and those interested in supporting the event. Leigh Insurance also provided each shooter with a quality cigar which made the event extra special. “Clay Day is a fun day that we look forward to each fall and a great opportunity to give back to the community. Leigh Insurance enjoys being a sponsor knowing the contributions are going to organizations doing incredible work. We are honored to participate and be a sponsor for Davidson Cares Clay Day each year,” shares Sally Jaudon, Business Manager at Leigh Insurance Agency. 

 

Chris Austin

Many of the Davidson Cares Clay Day sponsors have truly become an extension of the Davidson Realty family, and Chris Austin of First Coast Mortgage Funding is no exception. “Chris Austin is a lender our team works with very closely. Chris has an office in our building and participates in many of our team activities like lunch and learns, pizza and personal notes, birthday celebrations, and our trivia night. Chris also recently joined our team in our ramp build with Builders Care,” shares Davidson. Chris Austin graciously sponsored the wonderful lunch for Clay Day and assisted with set up for the event. “Being able to sponsor the lunch for Clay Day was the least I could do to help the great charities Davidson Cares continues to support. To be a part of an event like this one that at the end of the day gives so much money to organizations that will help the people who need it most is an honor and a privilege,” share Chris Austin. 

 

Davidson Cares Clay Day

The 7th Annual Davidson Cares Clay Day was held on October 20, 2022, at Jacksonville Clay Target Sports. Davidson Cares Clay Day included two-sport shooting events, beginner skeet, and sporting clay. Individuals and teams from beginner to expert levels participated.

 

In association with the event, there was a raffle contest. Prizes included a 65-quart YETI cooler with 13 full-size liquors and a 12-Gauge Beretta A400 XCEL Sporting shotgun.

 

Money raised from the event and raffles went directly to Builders Care, St. Augustine Youth Services (SAYS), Investing in Kids (INK!), Port in the Storm Homeless Youth Center, and Hope is Restored.

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Record of Respect: Vallencourt Construction Company Supports Davidson Cares Clay Day

December 8, 2022

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Posted by in Community Involvement, Events, News

From the inception of Davidson Cares Clay Day, Vallencourt Construction Company has been a major sponsor and incredible advocate for the annual event. The relationship between Vallencourt Construction Company and Davidson Realty dates back to the 1980s. Through the years the Davidsons have had the pleasure of working with three generations of the Vallencourt Family. Vallencourt Construction Company and the Davidsons worked together on various projects and Vallencourt Construction Company helped bring the vision of World Golf Village to life. From these various projects, a relationship built on mutual respect and admiration was formed. 

 

“I reflect on the process and the development of our relationship with the Davidson Companies often. It is on the highlight reel of my life. Vallencourt started with some smaller projects and went through the typical bid process. The Davidsons were tough, but fair developers. They always did what they said they would do and provided clear direction. Our relationship was constantly tested in the heat of the construction process, as nothing ever works out perfectly in construction, but we could always count on each other and mutual trust grew,” shares Mike Vallencourt, Sr. “The feeling of trusting and not being betrayed. The feeling of being trusted and being true. That is the definition of character and these feelings are the reward of good character.” 

 

Vallencourt Construction Company was established in 1945. With more than seventy years of experience, family-owned Vallencourt Construction Company provides clients an unbeatable value with their experience, strong workforce, and top-of-the-line machinery. The team at Vallencourt Construction Company continually seeks out new markets and projects. They believe this forward-thinking is critical to providing the best value to customers, opportunities for employees, and growth as an organization. Vallencourt has had a hand in countless projects over the years including RiverTown, Bannon Lakes, Beachwalk, and the Town Center Promenade.

 

“Vallencourt Construction Company is an organization with a strong reputation for their integrity and incredible craftsmanship. I have witnessed them go above and beyond to help their team or take the time to train people who they see potential in,” shares Davidson Realty President, Sherry Davidson. “Vallencourt Construction Company is constantly giving back to the community and is extremely generous. In 2006, the Vallencourt family established the Vallencourt Scholarship at Bishop Snyder. Each year, one young man and woman are selected to receive the scholarship for their exemplary work ethic. Vallencourt Construction Company are also strong supporters of St. Vincent’s Hospital and L’Arche Jacksonville as well as other organizations through sponsorships.”

 

Davidson Cares Clay Day is proud to have the support and sponsorship from Vallencourt Construction Company as they continue to give back in Northeast Florida. To learn more about Vallencourt Construction Company visit their website at www.vallencourt.com or call (904) 291-9330. 

 

Davidson Cares Clay Day

The 7th Annual Davidson Cares Clay Day was held on October 20, 2022, at Jacksonville Clay Target Sports. Davidson Cares Clay Day included two-sport shooting events, beginner skeet, and sporting clay. Individuals and teams from beginner to expert levels participated.

 

In association with the event, there was a raffle contest. Prizes included a 65-quart YETI cooler with 13 full-size liquors and a 12-Gauge Beretta A400 XCEL Sporting shotgun.

 

Money raised from the event and raffles went directly to Builders Care, St. Augustine Youth Services (SAYS), Investing in Kids (INK!), Port in the Storm Homeless Youth Center, and Hope is Restored.

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Northeast Florida Real Estate Market Update

November 22, 2022

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Posted by in News, Northeast Florida Market Trends

“Reflect upon your present blessings—of which every man has many—not on your past misfortunes, of which all men have some.” —Charles Dickens

Thanksgiving is my favorite holiday; I love to reflect upon my blessings.

 

The Northeast Florida Association of Realtors (NEFAR) market stats for October continue to show the median sales price stabilizing. Since April, the median price has gone slightly above or below $350,000 each month and ended at $355,000 for October.

 

NAR Chief Economist Lawrence Yun recently spoke at the NAR conference and said “For most parts of the country, home price are holding steady since available inventory is extremely low. Some places are experiencing price gains, while some places, most notably in California, are seeing prices pull back.”

 

Yun mentioned the difference between current market conditions and the Great Recession. “Housing inventory is about a quarter of what it was in 2008. Distressed property sales are almost non-existent, at just 2%, and nowhere near the 30% mark seen during the housing crash. Short sales are almost impossible because of the significant price appreciation of the last two years.”

 

There were 2,344 closed sales in October which is down 27.1% from last year but an increase of 11% from September when Hurricane Ian had some impact. Pending Sales of 1,968 were almost the same as September when we had 2,029 pending sales.

 

Active inventory is at 7,237 properties which is up 18.2% from the 6,125 properties in September. We now have 3.1 months supply of inventory compared to 2.9 months in September. Five to six months of inventory is a balanced market.

 

Lawrence Yun expects home sales to decline by 7% in 2023 with the national median home price increasing by 1%, with some markets experiencing price gains and others price declines.

 

The prices are stabilizing, the closings and pending sales are down, inventory is up but still below pre-pandemic norms. It appears that buyers are continuing to buy homes just not at the frenetic pace we have seen for the last two years.

 

Wishing you and your family a wonderful Thanksgiving holiday!

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Servant Leaders: The Hutson Companies Support Davidson Cares Clay Day

November 15, 2022

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Posted by in Community Involvement, News

The Hutson Companies has been a major sponsor for Davidson Cares Clay Day from the beginning. In 2018, The Hutson Companies committed to matching up to $40,000 as an additional contribution to St. Augustine Youth Services (SAYS), one of the local organizations that benefit from Davidson Cares Clay Day. More than $52,000 was raised that year and the incredible efforts by SAYS to assist at-risk youth were further supported thanks to The Hutson Companies.

 

The partnership between Davidson Realty and The Hutson Companies spans many years. From helping The Hutson Companies sell farmland in Elkton and Hastings to, most recently, commercial land in OakLeaf Plantation, the respect and trust between Davidson Realty and The Huston Companies has formed a thriving friendship.

 

“David and Nancy Hutson are extremely generous and support numerous local charities. They give from the heart and fly under the radar to avoid recognition, but their contributions to the Northeast Florida community are staggering,” shares Davidson Realty President, Sherry Davidson. “David Hutson is a true real estate visionary. He has built homes and developed stunning communities for many years. His work is exceptional and the team at Davidson is proud to call him an industry partner.”

 

The Hutson Companies is known for developing family-friendly communities while being both environmentally and financially conscious. Since 1973, The Hutson Companies has developed dozens of residential communities in Northeast Florida to total more than 20,000 home sites. The Hutson Companies is presently developing projects in Clay, Duval, and St. Johns Counties. 

 

“Davidson Cares Clay Day provides an incredible opportunity for The Hutson Companies to both give back to the community and spend time together outside of the office. We admire the planning of the event. Every year the Davidson family manages to create a relaxed, enjoyable environment for the participants without ever losing sight of why we are there: to help those in need. Clay Day is an event we look forward to all year for both the friendly competition and the opportunity to associate with our industry partner,” shares Cody Hutson of The Hutson Companies. 

 

Davidson Cares Clay Day is proud to have the support and sponsorship from The Hutson Companies as they continue to do incredible work in Northeast Florida. To learn more about The Hutson Companies visit their website at www.hutsoncompanies.com or call (904) 429-9965.

 

Davidson Cares Clay Day

The 7th Annual Davidson Cares Clay Day was held on October 20, 2022, at Jacksonville Clay Target Sports. Davidson Cares Clay Day included two-sport shooting events, beginner skeet, and sporting clay. Individuals and teams from beginner to expert levels participated.

 

In association with the event, there was a raffle contest. Prizes included a 65-quart YETI cooler with 13 full-size liquors and a 12-Gauge Beretta A400 XCEL Sporting shotgun.

 

Money raised from the event and raffles went directly to Builders Care, St. Augustine Youth Services (SAYS), Investing in Kids (INK!), Port in the Storm Homeless Youth Center, and Hope is Restored.

Comments currently closed.
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