Real Estate News

Residential Real Estate in Ponte Vedra 3rd Quarter Update

Posted on by Lisa Barton

The Ponte Vedra Beach residential real estate market continues to be very strong year-to-date through September.

  • In total, 488 homes sold in 2019 versus 510 last year (which was one of the best years ever). 
  • Importantly, both the average and the median sales prices have increased by 7.7% and 8.26%, respectively.
  • Increasing sales prices are also reflected in the improved sold-to-list ratios, which in September climbed to 95%. 
  • The year-to-date absorption rate has also changed favorably (for sellers) and is now 6.06 months versus 6.82 months last year—an 11.14% improvement. 
  • The number of listings has been consistent since October of 2018, but the average days on market in September was only 80 days, down from 130 last year, indicating properties are moving quickly in what still appears to be a seller’s market. 

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Mortgage Pricing Not Tied to Fed Action

Posted on by Lisa Barton

There's so much speculation in the market with the talk of the Federal Reserve rate cut. Here’s what Mike Hendrickson, Sr. Mortgage Consultant at U.S. Bank, had to say:

Mortgage pricing is not tied to Fed action. This may come as a surprise to many who mistakenly believe that Fed rate cuts are immediately tied to mortgage rate pricing. That correlation is untrue. See, the Fed rate cut yesterday of .25% (25 Basis points) does not equal a mortgage rate cut of 25 Basis Points. 

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Real Estate Market Update - Summer 2019

Posted on by Lisa Barton

May was a very productive period for the Lisa Barton team, with thirteen sales closing in this month alone. Typically, May is also a very active month in the Ponte Vedra Beach area and reflects a seasonal pattern of high sales in the second quarter—as families move and make plans for the coming school year. In this update, we’ll look at national, state, and regional real estate market trends.

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