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St Augustine Florida real estate market report July 2007

By
Real Estate Agent with Brite Real Estate Professionals - Saint Augustine Florida

Buyers Market is in full effect, the number of homes for sale in St Augustine is still at 3700, which equals a 37 month supply. I expect home prices in the resale market to decline for the next 6 months or longer until buyers start to step in.

Established neighborhoods are selling

  • St Augustine Shores
  • St Augustine South
  • World Golf Village
  • Cypress Lakes

New home developers are reporting about 3 sales per month for the best projects

Developers are first to adjust the prices or to offer incentives

  • 200,000 - 300,000 Market is selling
  • Incentives up to $50,000
  • no lot premium
  • 3% or all closing cost paid

 

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