Here are the numbers of active property listings, those under contract, and sold properties for Condos in Jacksonville Beach, FL for the month of May 2008:
- Active 362 active listings for condos (no single family homes)
- Pending 13 pending (inspections & financing have been done)
- Sold 9 sold (prices ranged from $125,000 to $650,000)
- New Listings 51
This is the first market report for condos that I've posted. The active listings have declined 23% year to year. I imagine most owners decided to rent their units and wait for the market to rebound in this category rather than take a hit now. The pending listings are technically flat, however, there is one more unit pending right now, which is better than the Single Family Data I just posted.
New listings are down 17% year to year as well; sellers are really looking at what is going on in the market to determine if they will realize a profit or not before they list.
The sold listings are down, almost identical to single family homes; I imagine as we move through the summer months and financing gets settled we will see more condos move, especially as they are more affordable for 1st time homebuyers at the beach.
Here are the May 2007 numbers for comparison:
- Active 470 active listings for condos (no single family homes)
- Pending 12 pending (inspections/financing have been done)
- Sold 23 sold (prices ranged from $141,500 to $1,525,000)
- New Listings 62
It is a wonderful time to buy, so if you are ready, give me a call, and I'll show you all the options that fit your lifestyle and budget.
And, if you are selling, I will give you solid pricing information based on where the market is now.
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