How is the Ponte Vedra Beach, Florida Market? (population: 37,924+ and growing - US Census 2007)
I get this question asked of me very often and here is my overall response - inventory is low, multiple offers are not uncommon, homes are selling quickly and here are the statistics.
According to the information I just gathered today from the NE FL Multiple List System, since January 1, 2013 there have been 151 single family homes listed for sale as new inventory. The total inventory in Ponte Vedra Beach and Ponte Vedra (Nocatee area) stands at 350 single family homes. Of that new inventory, only 114 are currently available. (236 homes are over a month and 10 days on the market). There are a total of 43 houses under contingent contracts (waiting inspections/financing approvals etc.). Of those contingent, 7 were new listings since January. 183 houses are Pending sale (just waiting to close) and 24 of those are new listings since January. A total of 69 houses have sold in 41 days since January1 (6 of those had been listed after January 1,2014).
I get this question asked of me very often and here is my overall response - inventory is low, multiple offers are not uncommon, homes are selling quickly and here are the statistics.
According to the information I just gathered today from the NE FL Multiple List System, since January 1, 2013 there have been 151 single family homes listed for sale as new inventory. The total inventory in Ponte Vedra Beach and Ponte Vedra (Nocatee area) stands at 350 single family homes. Of that new inventory, only 114 are currently available. (236 homes are over a month and 10 days on the market). There are a total of 43 houses under contingent contracts (waiting inspections/financing approvals etc.). Of those contingent, 7 were new listings since January. 183 houses are Pending sale (just waiting to close) and 24 of those are new listings since January. A total of 69 houses have sold in 41 days since January1 (6 of those had been listed after January 1,2014).
What does all of that mean? Buyers who have been waiting for the inventory to pick up are no longer waiting. What you see today for sale and are thinking of buying, someone else saw yesterday and is planning on buying.
Take a look closely at the cost of waiting to buy until next year in this graph and what waiting will cost you over the next 30 years. If that is not incentive to buy now, what is? (Graph courtesy of KeepingCurrentMatters, 2/2014)
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