Happy Holidays! In the spirit of the season, I would like to extend my warmest thanks to all of you. For your loyalty, for your referrals, and your business. Your support means so much to me, and the business in 2018, wouldn’t have been possible with out you. I look forward to continuing to serve our community and am excited to work with you all in the new year to come. Merry Christmas, Happy Holidays, and Happy New Years! To hear our full holiday message, watch this short video.
Supply and demand is an important thing to know if you want to understand your micro-market.
When determining the market value of a property before listing it, I take several factors into consideration, including:
- Comparable homes
- Square footage
Another very important factor is the supply and demand of homes in that property’s price point.
For example, during the month of August in Ponte Vedra Beach, there were 370 active listings and 54 sold listings, which left that area with 6.85 months of inventory. This means that if sales continued at the same rate as they have and no new homes came on the market, it would take 6.85 months to sell off all their remaining inventory.
In Ponte Vedra’s Nocatee community, there were 225 active listings during the month of August, and 84 of those listings sold, which left 2.68 months of inventory.
Whether you’re a buyer or a seller, it’s very important to look at the micro-market in your price point to see what the supply and demand is.
If you have any questions about this topic or your local market or you’re thinking of buying or selling a home soon, please feel free to reach out to me. I’d be happy to help you.
Ponte Vedra Beach is a great place to live and raise a family, and today I’ll tell you why.
I know from experience. When I moved here 15 years ago, I knew only one person and I was scared to death, but I’m glad I did.
Located in St. Johns County, Ponte Vedra Beach is about 20 minutes north of St. Augustine and 30 to 35 minutes south of Jacksonville. In this small coastal town, you’re never too far from the beach. If you like to play golf, we are home to the famous TPC (Tournament Players Championship), and the PGA’s headquarters is located here as well.
Not only that, but St. Johns County is the top-rated school district in the state of Florida, and it’s easier and more affordable to live here than you might think. The average home price is $645,000, but you can find a single-family homes in all price ranges. You can buy one for as little as $300,000 or buy one for $4 million right on the ocean.
If you have any more questions about what Ponte Vedra Beach offers or you’re thinking of buying a home here, don’t hesitate to call or email me. I’d love to speak with you.
People are getting mixed messages about whether the market favors buyers or sellers more, but the truth is that it’s more complicated than that. Let me explain.
Summer is here, and the year is almost half over. Since we’re cruising right along through 2018, a lot of people want to know what is happening in the real estate market. I look at the market every day, so I’ve made some notes of my observations that I’d like to share with you.
Does the market favor buyers or sellers? People are getting conflicting information about this topic, and the truth is that it’s all about supply and demand. The market is very hot in some areas at different price points. Some sellers are getting multiple offers, their homes are spending very few days on the market, and they’re getting more money than they thought they would. Some people, on the other hand, are struggling with stagnating listings, causing them to resort to price adjustments.
In the price range below $500,000 for residential single-family homes in St. Johns County and Duval Country, sellers are ruling because of the low inventory, which is 3.6 months’ worth in that price range.
Now take the exact same area at a different price point: Homes in the higher price point between $500,000 and $1 million are taking up to six months and several price adjustments to sell, and there are 6.8 months’ worth of homes available. In the price point above $1 million, we have 13.6 months of inventory.
Keep in mind that homes in all price points are selling very well, but those under $500,000 are selling like hotcakes with the lack of inventory. If you’re looking for homes in any of these price points, you have advantages and disadvantages to deal with. You’ll need an experienced agent to help you navigate the market—what your competition looks like, how many months the home has been on the market, whether the price is fair, and so on.
I happen to be such an agent, so If you’re entering the market soon, please reach out to me. We will have a straightforward conversation about the market that you can use to your advantage when moving forward with your transaction.