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Jacksonville Beach and Ponte Vedra Beach Real Estate Market Report Fourth Quarter 2015

Posted on by Lisa Barton

The Jacksonville Beaches real estate market was again strong throughout 2015. Across the board indicators were positive for Jacksonville, Neptune, Atlantic and the Ponte Vedra Beaches. Here are some important numbers:

  • New listings climbed 9.7%, while closed sales rose 15.5%.  As a result the inventory of homes for sale continued to shrink as did the monthly supply of inventory.
  • As previously forecasted, median sales prices rose 5% across these four markets, from $291,000 to $306,000. Two markets, Atlantic Beach and Neptune Beach, saw year-over-year increases of 12.5% or greater, while Jacksonville Beach was up 2.7% and Ponte Vedra Beach declined by 2.5%. Even with the slight decline in average sale prices, Ponte Vedra Beach continued to have the highest median sales price at $431,000, versus $442,000 in 2014.  

Elsewhere in the Jacksonville Beaches, sales and price increases were also very positive:

  • South Ponte Vedra Beach down to Vilano (including Palm Valley) – new listings dropped by 4.2% while closed sales rose by 6.9%. As a result the inventory of homes at year-end was only 4.4 months. Prices remained relatively stable, with the average sale price up 1.5% from $399,000 to $405,000.
  • Ponte Vedra/Nocatee finished December very strong and also posted significant gains for the whole year. New listings were up 24.3% to 881, closed sales were marginally up 0.9%.  Median sales prices, however, were up 8.9% from $350 thousand to $381 thousand. Inventory is still very low at 2.8 months.
  • St Johns County/NW continues to be a very active growth area, with home sales up 8.9% to a total of 2,228.  Median sales prices of $265,000 were virtually unchanged, while inventory shrunk by 23.4% to 3.6 months.

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Holiday Home Sales in Jacksonville

Posted on by Lisa Barton

I had a wonderful experience this Friday morning talking with Nikki Kimbleton with Jacksonville's Channel 4 News. The TV station asked me to discuss about how the recent hike in interest rates might effect potential home buyers' ability to make a new home purchase. We also talked about whether or not it's a good idea to search for a new home during the holidays. Here are some of our main talking points:

  • When the Federal Reserve increases interest rates, those changes don’t usually effect mortgage rates immediately. And, interest rates are only one factor in people’s decision to buy a home — many other factors are important too. 
  • The changes in interest rates might effect adjustable rate loans (APR) right away if those loans are scheduled to re-set.
  • Interest rates for mortgages are anticipated to creep up slightly in 2016 and 2017, but remain remarkably low when you consider the big picture. Rates haven’t increased in over 10 years — so we actually have a whole generation of home buyers who are accustomed to really, really low mortgage rates. 

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JAXUSA Partnership

Posted on by Lisa Barton

Staying informed is a major key to success. Today, The Lisa Barton Team joined the JAX Chamber and the St. Johns County Chamber of Commerce for a regional economic development update.  JAXUSA Partnership, previously Cornerstone Regional Development Partnership, is a private, nonprofit division of the JAX Chamber and is Northeast Florida's regional economic development initiative.

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Sea Turtles Hatching on Ponte Vedra Beach

Posted on by Lisa Barton

Turtle season in Florida starts in May 1st and continues through November 1st. Witnessing a turtle hatching is one of the coolest things to see! Last week, during an evening walk on the beach, we were fortunate enough to be at the right place at the right time and we actually watched a sea turtle nest hatch -- what an incredible experience!!! 

If you’ve been to the beaches of Ponte Vedra recently, you will notice multiple sea turtle nests, which are blocked off with wooden stakes and neon taping for protection. This year has been a busy year for sea turtles - in Ponte Vedra Beach, 46 nests were marked, and 33 have already hatched. In Atlantic Beach, Neptune Beach & Jacksonville Beach, a total of 63 nest were marked. Of the 63 test, an estimated 3,836 eggs were counted; 2,986 already hatched. 

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