Wednesday, November 30, 2011

Jacksonville Beaches area real estate market update

As they say, "the numbers don't lie".  The Beaches area markets are all over the place! Without giving out TMI (too much information), I'll give you the hightlights and the lowlights of the Beaches market. I'll give you the condensed version.

Jacksonville Beach has fewer listings than it did in Oct 2010 (-31.7%) but the median sales price price was up 9.1% ($232,300.00) over October 2010.  Year to Date in Jax Beach median sale price is up only 1.4%.  BUT---the key word here is UP! Inventory is down 24.3% from the same time last year. We are down to a 7 month supply of inventory in Jacksonville Beach. That's a GREAT thing!

Neptune Beach took a huge hit on the median sales price. It was down a whopping        -59.7% compared to October of 2010. Year to date numbers are a whole lot better - up 16.7% to $280,000.  The median sales price in October 2010 was $501,500 and this year the median sales price was $202,000.  WOW!!  There are 8 months of inventory on hand in Neptune Beach right now. This is down 46.7% vs the same inventory in October of 2010.

My head is hurting from all of these numbers! I am ready to bang my head against my computer monitor. I never was much of a bean counter!  One last report to go!

Atlantic Beach had 25% fewer closings in October of 2011 than they did in 2010. The median sales price is up 20.7%.  The current median sales price is $281,250. Again, the key word is UP! So the bottom line in Atlantic Beach appears to be fewer homes sold, but the ones that did sell - sold for more! There is a 7 and a half month supply of homes on the market right now in AB. 

Jacksonville Beach and Atlantic Beach both showed improvement in price but fewer homes sold. Neptune Beach had a price DECREASE but year to year, the prices are up 16.7%.

The number of homes on the market continues to decline. This will probably force prices to continue rising. Interest rates remain low so this just might be the perfect time to buy!

Call me today and let's get out there and find you a house at the Beach. Can't you just see yourself taking a long walk on the sand today?

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