Here are the numbers for sold single family homes in the Pablo Bay subdivision area during June 2008.
Pablo Bay is a well-designed subdivision conveniently located along San Pablo Road, close to the beaches, and a quick commute to Southpoint. Pablo Bay has approximately 450 homes, located 1 mile from the world-renowned Mayo Clinic, and 2 miles from the Atlantic Ocean.
A total of 7 homes sold in Pablo Bay during June 2008. Here are the highlights:
- Lowest price home sold: $305,000 (Bank owned property)
- Price per square foot: $108
- This property sold at 89% of list price and was on the market for 50 days.
- Highest price home sold: $507,500 (seller offered pool service for one year, and a $1500 gift card to buyer's agent)
- Price per square foot: $165
- This property sold at 95% of the list price, and was on the market for 233 days.
That's great, you say, what does this mean to me?
If you are a buyer, and are pre-approved for up to $350K, you can get a great house in Pablo Bay - there were two houses that sold for UNDER $350,000 in this community. If you've had your eye on this area, now is the time to get moving - these prices will not get much lower, and you could miss out on the house you want. Historical sales tell us these prices are closer to pricing in 2004.
If you are a seller, it's a good pricing strategy in the current market to UNDERPRICE the competition by about 10% so your home is the best value - this will increase the showings, and should get you an offer sooner than overpricing or pricing on par with the competition.
What does history tell us?
- 2007 one home sold in for $475,000
- 2006 four homes sold, ranging from $390,000 to $532,500
- 2005 four homes sold, ranging from $375,000 to $759,000
- 2004 two homes sold, ranging from $256,000 to $363,000
Carol Zingone is a Broker Associate with a 100% Customer Satisfaction Rating in Jacksonville Beach, FL with Vanguard GMAC. She helps buyers and sellers throughout the Beaches, Intracoastal West and Greater Jacksonville, FL areas. She can be reached at 904/993-9048 or via email at carolzingone@clearwire.net
(Data is compiled from the Northeast Florida Association of Realtors Multiple Listing Service, and reflects Realtor sales. Sales not involving a Realtor are not included.)
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