Nationally and here in Northeast Florida, the overall residential real estate market continued to be strong through the end of October 2017. The national unemployment was 4.1% in October, which is great news! The joblessness rate has not been this low since Dec. 2000. Throughout 2017, mortgage rates held steady, at or near 3.9%, despite fears early in the year that increases in the Federal Reserve's interest rate might push mortgages into the mid to high 4% range. Across Northeast Florida, median sales prices are at historic highs, while inventory and days on the market are lower than last year, despite an uptick in listings. Our local real estate market appears poised for another good year.
Continue reading Ponte Vedra Beach Real Estate Fall 2017 Market Report.