Lisa Barton

Across Northeast Florida, the Housing Affordability Index continues to climb – it’s up 16.2% from this time last year and 44.9% over the past two years. Pending sales for the entire market are also up with a 19.5% increase from this time last year. Closed sales have followed the upward trend, with an 18.4% increase over the same time period.  And, an additional piece of good news, the percent of original list price received at sale has increased 3.2% from this time last year.

Specifically for the Jacksonville Beach communities:

• New listings are down in Jacksonville Beach, Neptune Beach, and Atlantic Beach.
• Unfortunately, median sales prices have dropped in all of the beaches communities since this time last year except for Ponte Vedra Beach North.
• The median sales price for Ponte Vedra Beach North has increased dramatically from $495,000 to $712,500 over the last year. 
• More good news for Ponte Vedra Beach and Nocatee area residents, the percentage of original list price received at sale is up from 87.3% last September to 89.9% this September. 
• Another positive is that inventory is down in Jacksonville Beach, Atlantic Beach, and Ponte Vedra Beach North.
• More positive news, in the luxury market, total sales of homes priced over $1 million has doubled over the last year.

Short-sales and foreclosures continued to be a huge factor influencing our real estate market. The share of lender-mediated sales is 55% in the Jacksonville area. The percentage of lender-mediated sales for each of the Jacksonville Beaches communities follows:

• Jacksonville Beach – 40%
• Neptune Beach – 47%
• Atlantic Beach – 38%
• Ponte Vedra – 36%

Report information summarized from the Northeast Florida Association of Realtors.