Tag Archives: Jacksonville homes for sale

Where Have All the Listings Gone?

The October Year-to-Date Market Summary from our Multiple Listing Service  shows what most of us in Jacksonville, Florida and the First Coast area are easily able to see: our listing inventory is down!  There are only 8,365 homes for sale.  To put this in perspective, at the height of the real estate crash in 2006, we had over 22,000 homes for sale.  By 2010, that number had dwindled to around 16,000.

Here is the report:

 What is especially interesting is the increase in home sales in the $250,000 to $500,000 price range and in the sale of luxury homes over $1 million.

In summary, if you are considering selling,  now may be a good time to put your home on the market.  If you are thinking about buying, I would consider looking seriously now while interest rates are still at historic lows and before prices jump up.

For the complete report, personalized statistics in your area, or a list of great homes for sale, please call me at (904) 386-9816 or send me an email using the contact form on this site.  I will have the information right out to you!

 

 

The Disappearing Home Inventory

It’s no secret to anyone driving through our Jacksonville neighborhoods that the number of “For Sale” signs is way down from years past.  And many of those homes that do have signs are no longer available; they are homes offered as a short sale that now have accepted contracts awaiting bank approval.

This morning I read on Zillow that we have approximately 9,500 homes for sale in our Multiple Listing Service.  That’s down from over 20,000 at the height of the recession.

Where did the homes for sale go?  Zillow graphs show a direct correlation between negative equity (percent of homes underwater) and the change in inventory of homes for sale.  Simply put, many sellers who wanted or tried to sell their homes during the recession can no longer afford to do so, because they now owe more on their home than its value.

What does this mean for a home seller or home buyer?  For a home seller, a drop in supply means an increase in demand.  Homes priced competitively are selling quickly,  frequently with multiple offers.  For a home buyer, prices are still down and interest rates remain at a historic lows.

Finally, a great time to buy or sell!

Lakefront Home

Looking for a lakefront home in popular Lake Mandarin?  Check out my new listing at 3470 Catamaran for $179,500!

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