Today's St. Augustine Record - Front Page News - "Home Sales Rebound". What music to this agents ears! Good news about the real estate market on the front page.
The Record also reported "this recent activity comes from low mortgage rates and low home prices. But David A. Denslow, a professor and economist with the University of Florida's Bureau of Economic and Business Research, offered another reason. He said square-foot prices for homes in St. Augustine are selling for 60 percent of the national average."
There are a few other factors that may explain our increase such as concerns about investing assets the unsettling stock market a very cold winter up north.
Here are some stats that were cited "total residential sales countywide amounted to 249 for a total of $76.5 million. In addition, 52 condos sold for a total of $10.7 million and 77 residential lots sold for $4.8 million."
St. Augustine homes are selling 60% below the National Average? What a bargain for buyers. The combination of reasonable interest rates and great prices in our area has proved that it truly is a buyers market. Looks like the sales numbers are proving it.
This is the time of year that the Snowbirds start to return to our beautiful city and many recognize that now is the time to buy. Thank you St. Augustine Record for reporting some GOOD NEWS for a change. The buying public needs reassurance that buying a home now is a smart choice.
Marjorie Taylor is a licensed Real Estate Broker and community leader representing Homes in St. Augustine. She is passionate about helping clients buy and sell Homes in St. Augustine and Homes in St. Augustine Beach, Florida.