Marsh Landing has an experienced a betterment in the market just like Ponte Vedra Beach (website) in general.
There was a drop of 16.9% to a YTD absorption rate of 6.05 months. So Marsh Landing (visit here) is just now entering a "balanced market". However, if sales progress continues then it could see a seller's market with more appreciation.
Average Listing Price
What is interesting is the average listing price for the year to date compared to 2013 year to date is down 15.82% to $1,002,059. However, I see the number of listings put on the market over $1,000,000 is down 34.6% comparing 2013 to 2014 year to date figures. Thus it is a lesser number of expensive homes on the market in Marsh Landing and not a drop it actual prices.
Supply of Homes
Follow up this fact is the fact that year to date all price ranges show less homes on the market in Marsh Landing. So this lesser supply will lead to more appreciation. $500k - $750k down 6.2%, $750k - $1M down 21.4% and the $1M+ down 34.6%.
Sales Prices
We did see a rise in sales prices of 2.76% in the YTD figures from 2013 to 2014. This may seem small be we are looking at average sales price of $979,292.
Days on Market
Another sign the market is getting better in Marsh Landing is the median Days on the Market has improved YTD from last year by 11.63% to 114 days.
This Month's Under Contract
This month in Marsh Landing we did see 3 homes go under contract. One in the $500k - $750k range, one in the $750k - $1M range and one in the $1M+ range. So the market is still moving.
Other Statistics:
- There are 23 homes on the market in Marsh Landing with an average price of $1,551,300.
- Of the homes in the past 30 days 70% have had a reduction of approximately of 2.3% or $36,625.
- Prices range from $399,000 - $4,650,000 and sizes range from 2,912sf to 9236sf.
- Currently the average home in Marsh Landing has 4 bedrooms, 6 bathrooms and 5,422sf.
- The average price of a 4 bedroom home is $877,483 but the average price of a 5 bedroom is a whopping $3,122,500! Obviously there are a lot of expensive, big 5 bedrooms on the market.
If you have a question about Marsh Landing please give us a call at 904-273-0125 or contact us.
Source: MLS data for common name "Marsh Landing". Please note Marsh Landing has a couple common names so this data may not be all inclusive.
Check out Ponte Vedra Beaches' July 2014 Market Report (visit)
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