JULINGTON CREEK PLANTATION & SURROUNDING AREAS: As a Realtor living in Julington Creek Plantation, I am often asked "What is going on with the market in our area?" Since we are all interested to know what is going on in our own backyard I thought I would put together a monthly blog about "Julington Creek and the Surrounding Areas Market Trend Report."
I am eager to hear your thoughts and please let me know if there is any additional information you would like included in future reports.
MARKET TRENDS AUGUST 2011
The Northeast Florida Association of Realtors reported there have been some shifts on both sides of the closing table for August 2011. Nationally, buyer activity is moving back in line with historical trends while sellers are making fewer concessions in order to sell their homes.
How does this translate for Julington Creek Plantation and the surrounding areas?
|
|
AUGUST |
|
|
YEAR TO |
DATE |
|
|
|
|
2010 |
2011 |
+/- |
2010 |
2011 |
+/- |
|
|
New Listings |
205 |
168 |
-18% |
1,765 |
1,466 |
-16.9% |
|
|
Closed Sales |
124 |
145 |
+16.9% |
898 |
911 |
+1.4% |
|
|
Median Sales Price* |
$219,995 |
$223,875 |
+1.8% |
$221,000 |
$210,000 |
-5.0% |
|
|
Percent of Original List Price Received* |
92% |
92.1% |
+.2% |
91% |
90.8% |
-.2% |
|
|
Days on Market Until Sale |
96 |
107 |
+12.3% |
106 |
123 |
+15.9% |
|
|
Inventory of Homes for Sale |
1,057 |
782 |
-26% |
-- |
-- |
-- |
|
|
Months Supply of Inventory |
9.6 |
6.9 |
-28.4% |
-- |
-- |
-- |
|
|
|
 |
 |
*Does not account for seller concessions. Activity for one month can sometimes look extreme due to small sample size.
New listings in Julington Creek and the surrounding areas decreased 18% over August 2010 as did as did the number of homes on the market shringing from 1,057 housing units (8/2010) to 782 housing units (8/2011). There was a slight increase in the Median Sales Price of 1.8% to $223,875 and on average it was taking a little longer, 107 days, for homes to sell. The Percent of Original List Price Received remained about the same with a .2% increase to 92.1%.
Let’s hope with low interest rates, a declining supply and a somewhat stabilization of pricing (at historic lows) there is a small ray of sunshine in our future.
Please feel free to forward this information on to anyone who might be interested in this market. Similarly, if you have questions about a specific subdivision or another area of Jacksonville please don’t hesitate to email me!
And, as always, if you or someone you know is considering buying or selling a home your referrals are GREATLY appreciated!!!
Have a FANTASTIC rest of the month!
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