North Florida Market Statistics in October 2010

"Every problem has in it the seeds of its own solution. If you don't have any problems, you don't get any seeds." Norman Vincent Peale

Peale's quote should tip you off on the market in October.  We shouldn't be surprised by the numbers since many lenders halted foreclosure sales in October and 54.8% of the North Florida real estate closings in September were lender mediated (meaning a short sale or foreclosure). Only 48.7% of the closings in October were lender mediated.

• The number of pending sales in October was 1,280, which was down from 1,385 in September and 1,496 in August. Pending sales year to date through October 2010 like closings are up over 2008 and 2009.
• The number of closings in October reported by NEFAR was 968 down from 1,263 in September. I think the foreclosure issues accounted for most of the drop in closings. On a positive note, the closings year to date through October 2010 are 13,393 up from 11,817 year to date through October 2009 and 10,686 year to date through October 2008.
• The median sales price and the average sales price are both higher than previous months. Again, this may be due to less foreclosure sales. The median sales price is $142,550 for October. It was only $130,000 for September which is a nice increase. The average sales price is $173,892 in October which is up from$166,504 in September.

If you are interested in the Jacksonville area, I have some details to share on the 4 zipcodes in Northern St. Johns County where Davidson Realty, Inc. is most active.

The  32092 zip code (the southern part of 210/World Golf Village): There were 36 closings of single family homes in October and the average sales price was $215,008. The average number of closings in each month for the last 12 months is 59.
The 32095 zip code (Palencia/ Kensington/ other communities on  US- 1):  There were 11 single family homes closed in October with an average sales price of $236,118. The average number of closings in each month for the last 12 months is 15.
The 32259 zip code: (the northern part of 210/Aberdeen/ Durbin Crossing/Julington Creek): There were 55 single family homes closed in October at an average sales price of $276,949. The average number of closings each month for the last 12 months is 78.
The 32082 zip code (Ponte Vedra Beach): There were 23 single family homes closed in October at an average sales price of $558,056. The average number of closings for the last 12 months is 35.

I would love to be your trusted real estate advisor. If you have any questions about buying, selling or renting, please give me a call. Have a Happy Holiday season!