Real Estate News

New Home Sales Market Update for Jacksonville Beaches

Posted on by Lisa Barton

Sales of new single-family homes in the United States surged in December to their highest levels in 10 months, the latest indication that the housing sector remained on firm footing. The US Commerce Department reported that new homes sales last month rose 10.8% to a seasonally adjusted annual rate of 544,000 units. In Northeast Florida new construction inventory peaked in September 2015 with month-end inventory at an average of 3.8 months. The top areas for new construction market share in Northeast Florida were Ponte Vedra/Nocatee (St Johns County) and St Johns County/NE.

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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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Condo for Sale in Valencia

Posted on by Lisa Barton

One of my favorite condominium developments in Jacksonville Beach is Valencia. These upscale condos were designed for luxury living. This is a gated community and each building has an elegant lobby, underground parking, beautifully finished hallways and elevators.  We've just listed a third story 3 bedroom 2 bathroom unit that is really lovely! Unit 3325 features a gourmet kitchen, large living room, elegant master bathroom and balcony that overlooks the courtyard and pool. This condo for sale also includes two parking spaces in the garage. Click here for more information.

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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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New home for sale in Marsh Landing

Posted on by Lisa Barton

We just listed a lovely pool home in Marsh Landing Country Club. This home located at 4443 Royal Tern Court has a smart floor plan with plenty of living space in the 4 bedrooms, 5 bathrooms, a separate study and game room. The backyard has a boardwalk and private dock on a tidal creek which offer access to the Intracoastal Waterway. Perfect for a small boat, canoe or kayak.

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Harbour Island Estate Home - Great Media Coverage

Posted on by Lisa Barton

One of our most favorite listings, 185 Admirals Way, is on the cover of the Florida Times Union's Home section this week. This amazing house warrants the special media attention. There is no other luxury waterfront home on the market that compares in Marsh Landing or anywhere else in Northeast Florida! This house is truly one of a kind.

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New Condos for Sale in Nocatee

Posted on by Lisa Barton

Coastal Oaks, the Tollbrothers neighborhood in Nocatee, has just announced they'll begin construction of luxury condominiums in the spring of 2016. These upscale condos will feature one story living with high-end finishes, garages and elevators. While the floor plans are still being finalized, Tollbrothers anticipates these new condos to offer two or three bedrooms, gourmet kitchens and preserve views. Tollbrothers will be constructing 6 buidings, each with 4 units for a total of 24 units. Prices will start in the mid $200,000s.

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Jacksonville Beaches Real Estate Market Report - Fall 2015

Posted on by Lisa Barton

Residential real estate sales continue to be a bright spot in the US economy with growth in sales prices moderate but still outpacing inflation. Our own local Jacksonville and Jacksonville Beaches real estate market reflects this picture with median sales prices rising 5.5% year-over year. Additionally pending sales were up 15.2 % to 2,234. Inventory levels fell 14.0% to 9,657 units, even though new listings increased 5.9% to 2,941. The lack of inventory, especially for homes priced below $500,000 has been a challenge for buyers this year.

Overall there were some minor changes in residential sales in our Jacksonville Beaches and Ponte Vedra Beach markets when comparing September 2015 to 2014:

  • New listings were up 11.2% from 1371 units last year to 1524 units this year
  • Closed sales rose 14% from 892 to 1017 units.
  • The median sales price rose by 1.4% to a weighted average of $311,121. Median sales prices were up the most in Atlantic Beach (15.2% to $220,000) and dropped the most in Ponte Vedra Beach North (down 6.9% to a median price of $475,000).

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