Good value can be found in the Jacksonville housing market.
Just take a look at these two new listings:
From the Ocean to the River, and Everything In Between, NE Florida has Waterfront Property to Fit Your Lifestyle.
Whether you’re into boating, swimming, fishing, surfing or just relaxing near the water, northeast Florida has options for you to discover.
Living on or near the water is a goal for a lot of people relocating to (or from within) Florida. But what that looks like can mean different things to different people. Some people want a beachfront home, or a condo overlooking the ocean. Others are happier on a river or lake. And there are some who may be looking for something even a little bit different from any of those options.
Fortunately, northeast Florida has a range of options designed to suit almost any lifestyle. Let’s take a look:
Oceanfront Property is Always a Draw
For some folks, only the ocean will do. And with a little more than 135 miles of coastline, Florida’s First Coast doesn’t disappoint. Here’s a sampling of oceanfront listings up and down the coast:
A River Runs Through It
One of the unique things about northeast Florida is access to the 310 mile long St. Johns River. Head north, and you’ll eventually reach the Atlantic Ocean. Go south, and you’ll reach the headwaters west of Vero Beach. So, if drifting along the river is more your thing, you’ll want to see a few of the currently available listings:
In Between is the Intracoastal
Not a river, per se, nor the ocean, the Intracoastal Waterway runs from Massachusetts past the southern tip of Florida. Here in northeast Florida, inland anglers love the brackish water, where fishing for redfish, flounder, sheepshead, drum and more are popular pastimes. Take a look at some properties along the Intracoastal Waterway.
And Now for Something Completely Different
If none of the aforementioned options are exactly what you’re looking for, consider Beachwalk in St. Johns, Florida. Anchored by the 14-acre, man-made Crystal Lagoon, Beachwalk offers residents resort-style living and amenities close to everything that Jacksonville and all of northeast Florida have to offer. From the well-maintained sugar sand beach, you can swim, kayak and paddle board, take a run down the water slide, or just head over to the swim-up bar for a drink. It’s truly a one of a kind experience in northeast Florida, and beyond. Take a look at some of the available properties:
If you’re looking for a waterfront property in northeast Florida that suits your lifestyle, drop us a line below. There’s lots to choose from, from the ocean to the river and everything in between…
The Difference a Year Makes in Del Webb Ponte Vedra
A look at what’s changed from 2023 to 2024.
The housing market continues to evolve, in ways both expected and unexpected. The inventory squeeze is starting to loosen up a bit, and interest rates have inched slightly downward. Somewhat surprisingly, however, that has not led to a great influx of buyers.
In Del Webb Ponte Vedra, there are additional pressures on housing. For one, the buyer pool is limited to those aged 55 or older. And Del Webb Nocatee is right down the road, offering new construction homes and a broader, potentially more attractive list of amenities than are available in Del Webb Ponte Vedra.
So, what does that mean for actual home sales year over year? Let’s take a look:
- 82 homes came on the market in Del Webb Ponte Vedra between Jan. 1, 2023 and Dec. 31, 2023
- 106 homes came on the market during that same period in 2024, a nearly 29% increase
So, as expected, we did see an improvement in inventory. What we didn’t see was a major improvement in sales:
- 84 homes closed in Del Webb Ponte Vedra between Jan. 1, 2023 and Dec. 31, 2023
- During that same time period in 2024, just 81 homes closed, a little more than a 3% decrease
Granted, sales being just 3% off is not a bad statistic, but given how much more inventory is available, you’d think that closed sales would be a little higher.
Which brings us to another interesting statistic..days on market.
- In 2023, the median days on market was 35
- In 2024, that number climbed to 58, a nearly 66% increase
Lastly, we can look at absorption rate, which is the number of months it would take to sell through the available inventory at the current sales rate. This rate changes month by month, of course, but it’s somewhat illuminating to see a 2.8 month rate of absorption in Dec. of 2023 compared to 8.4 months in Dec. of 2024.
In short, the pendulum has swung much more forcefully toward a buyer’s market in 2024, and that trend looks like to continue for the foreseeable future.
If you’d like to learn more about the housing market in your neighborhood, or a community where you’re house-hunting, drop us a note below:
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Parkland Preserve Community-Wide Open House
Saturday, Sept. 21 from Noon – 3:00 PM
Five homes will be open for you to tour!
Join us in 55-plus Parkland Preserve in St. Augustine, FL, to tour these beautiful homes!
New Rules
How the recent National Association of Realtors® (NAR) settlement will impact how home buyers, sellers and real estate agents interact beginning August 17, 2024.
Based on the recent Sitzer-Burnett class action lawsuit, Realtors® will be required to change the way they do business with home buyers and sellers. While the goal of the settlement is to create more transparency and fairness in real estate transactions, it will take some time for consumers and agents to adjust to this new landscape.
We’ll go into greater detail around what this all means later in this document, but these are the most notable changes that we’ll all need to be aware of:
- Sellers are not required to offer compensation/commission to a buyer’s agent (but they can if they wish to)
- Buyers will need to agree to and sign a Buyer Broker Agreement (BBA) with an agent of their choice before the agent can show them any home
- As part of the BBA, the buyer and agent will agree to compensation/commission to be paid to the buyer’s agent by the buyer
- The buyer’s agent cannot be paid more than the agreed upon amount in the BBA, even if the additional compensation is coming from another source (seller, or builder’s bonus, for example), unless agreed to in writing by all parties
- Area Multiple Listing Services (MLS), the databases where agents post and view listings available for sale by real estate agents (and the source of the vast majority of listings found online at sites like Zillow, Realtor.com, etc.) can no longer show any information about commissions/compensation offered
- Lastly, as it has always been, all commissions/compensation are completely negotiable
What This Means for Home Sellers
In the past, in order for a home to be listed in the MLS, sellers would have to make at least some offer of compensation to buyer’s agents, even if it was only a dollar. Going forward, that requirement will be removed, and sellers won’t even have to offer any compensation to a buyer’s agent, if they so choose. That said, sellers are free to offer compensation to buyer’s agents, whether in the form of a traditional commission (2.5% on the closing price of the home, for example) or as a concession to the buyer that they can use however they like (e.g., $5,000 towards buyer fees, whether closing costs, rate buydown or buyer’s agent commission).
See NAR’s Guidance on What the Settlement Means for Sellers
What This Means for Home Buyers
Buyers who want the expertise of a real estate agent to help them navigate the home buying process will have to a) sign a Buyer Broker Agreement (BBA) with a specific agent before that agent can show them any homes, and b) specify how much in compensation they will pay their buyer’s agent for those services. Note that BBA can be for a single property/showing or extend to a more comprehensive agreement allowing the buyer’s agent to show the customer multiple properties that meet their criteria, much as traditional agent/consumers relationships work today. The BBA can be limited by a specific timeframe (30 days, 6 months, or less, or more) or a specific number of properties. All of these terms, including the commission rate, are completely negotiable.
See NAR’s Guidance on What the Settlement Means for Buyers
What This Means for Realtors®
One of the biggest challenges for agents will be determining how much commission, if any, a seller is offering to a buyer’s agent on the sale of their home. You can imagine how important this information will be to a potential buyer who will need to negotiate how much they will pay to their buyer’s agent. For first time homebuyers, the challenge may be even greater, as they can be struggling to come up with the funds for a down payment and are now in a position where they may have to pay their buyer’s agent directly, as well. How this will impact home prices/sales, is anyone’s guess. On a side note, while no offers of compensation will be made available in the MLS, The Sandberg Team will be posting any buyer’s agent compensation offers made by our seller customers on our website, and other online sites as allowed, in order to cast the widest net possible for potential buyers.
So that’s it, in a nutshell. How much this decision truly upends the way homes have been bought and sold in the US for the last 100 years or more remains to be seen. One thing that’s certain, however, is that there will be more changes to come as agents, buyers and sellers learn how to navigate in this new model. Ultimately, we believe this will be a change for the better for consumers, while agents will have to lean into their training, experience and sound relationships with other agents to continue to provide the best service and counsel to their customers.
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