Buying a Home
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[This is my latest real estate quarterly update, which I'm sending because of our past discussions on the local Jacksonville market. Please let me know if you don't wish to receive these. This report is based completely my own observations, after culling through MLS data, trend reports, favorite blogs, and anecdotal evidence.]
The market is good! I’ve just gone over the final closed numbers from the 2nd Quarter, and there’s no question about it. Closed volume for single-family homes in Jacksonville in June 2015 is up 21% from last month and 25% from a year ago to a total sales volume of $564M. That’s the highest monthly sales volume I’ve ever seen, and it’s twice that from June 2006! The last time we saw this good a spike was in June of 2004 with $410M closed. I’m so busy in the trenches that I sometimes don’t see that, with my daily work to market, negotiate, and push to cross the closing finish line. But, there’s no doubt, the Jacksonville market is cranking. Homes are still averaging 3 months on the market before going under contract, and they’re closing around 94% of their asking price. Inventory is still low, and Realtors have to get creative with marketing to reach and educate buyers. I’m holding about 15 open houses a month, offering incentives to buyers and agents, hosting luncheons, and marketing everywhere, but it seems to be working.
Inventory is still low, but it’s ok. Buyers are getting new tools to scout the market for new listings and changes. Also, peripheral neighborhoods are benefitting, and that’s improving the overall market. Deals are still out there, but the competition is strong. Hopefully, we’ll finally see the banks selling their foreclosed assets, since there are far too many bank controlled vacant properties still sitting dormant.
Speaking of deals, we’ve got several that may not have hit your radar:
- 5950 Clifton Ave (http://tours.tourfactory.com/tours/tour.asp?t=1136102), 4058sf 3/4 Craftsman home on the Arlington River (navigable!) on over 1 ½ acres! - $549K
- 4401 Ortega Farms (http://tours.tourfactory.com/tours/tour.asp?t=1383104), 5140sf 5/3 Ortega Farms home on the Ortega River (also navigable) on 2.64 acres - $699K
- 2368 Riverside Ave (http://tours.tourfactory.com/tours/tour.asp?t=1110755), 2425sf 3/3.5 Villa Rive Townhome, with amenities on the St Johns River - $499K
- 3815 La Vista Cir (http://tours.tourfactory.com/tours/tour.asp?t=1286297), 1824sf 2/2.5 Villages of San Jose Townhome, nicely updated in gated community - $195K
-3325 Via de la Reina (http://tours.tourfactory.com/tours/tour.asp?t=1075443), 2130sf 3/2.5 amazing historic Spanish Revival home in San Jose - $340K
-2957 Bridlewood Lane (http://tours.tourfactory.com/tours/tour.asp?t=1320442), 3121sf 5/3 open home in Beauclerc with Fantastic entertaining space! - $399K
If you’re in the market and want to meet to get the right tools and strategy to find your new home or sell your current one, give us a call. One of the ways we’re staying on top of new listings and reductions is through a ListingBook account, which you’ll see on my website, along with entering your criteria from this simple questionnaire (Singleton Team Buyer Questionnaire). For our properties, we’ve got the following reductions:
-1025 Oriental Gardens (http://tours.tourfactory.com/tours/tour.asp?t=1310790), 4168sf 4/4.5, updated with incredible inside and outside living! - $825K
- 2405 Laurel Rd (http://tours.tourfactory.com/tours/tour.asp?t=1348456), 2926sf 3/2.5, in Old San Marco near shops, on incredibly lush corner lot - $849K
- 4260 Great Oaks Lane (http://tours.tourfactory.com/tours/tour.asp?t=1359565), 2647sf, 4/2.5 on updated on quiet street - $399K
- 1711 Peachtree Cir N (http://tours.tourfactory.com/tours/tour.asp?t=1268525), 1565sf 2/1, with good room to upgrade and renovation financing available - $175K
- New 1725 Flagler Ave (http://tours.tourfactory.com/tours/tour.asp?t=1391177), 1912 3/2, with a 2/1 garage apt, an additional office AND 2-car Garage! - $369K
- 2981 Riverside Ave (http://tours.tourfactory.com/tours/tour.asp?t=1281677), 4066sf 4/3.5 (plus 1/1 guesthouse!) Grand Prairie-style Avondale home - $719K
- 4605 Princess Anne Lane (http://tours.tourfactory.com/tours/tour.asp?t=1304974), 1880 3/2 pool home in Ortega Forest on corner lot - $299K
- 5400 Water Oak #404 (http://tours.tourfactory.com/tours/tour.asp?t=1146788), 1560 2/2.5 waterfront Townhome in Ortega Forest (Pirates Bay) - $189K
New listings are coming on the Ocean, in Ponte Vedra, Julington Creek, Avondale, San Marco,etc.
Although individual sales vary, we’ve had 6 homes under contract in less than 2 weeks recently, with the latest record being at 4174 Gadsden Rd where we actually closed within 6 weeks of putting the sign in the yard! Our marketing and servicing is generating the best sales price possible for our listings, and we’re pushing the creativity envelope for times when the property is tricky. We just closed a unique Mid-Century “Butterfly” in Arlington for some very happy Sellers (http://tours.tourfactory.com/tours/tour.asp?t=1276455) and we have another super cool mid-Century on the market in Granada, 4042 Barcelona Ave (http://tours.tourfactory.com/tours/tour.asp?t=1380324).
The team is in place, and we’ve closed 34 homes so far this year! I'm truly blessed to be working with these great professionals, and can now be at least 3 places at once. We look forward to seeing how we can help your next move. Call/Text/email.