The Sandberg Team @ Ponte Vedra Key Realty
Real Estate Sales & Service in Nocatee, Ponte Vedra & Jacksonville, Florida
Check the links below for more details on all the Nocatee homes that were listed, went under contract, went into pending, or sold, in March of 2023.
23 Properties Went Under Contract
54 Properties Moved to Pending (all contingencies cleared)
For more information, or if you’d like to see stats for your neighborhood, drop us a line.
By now, it’s clear we’re in the middle of a housing market adjustment. Which means that some of the strategies being employed by buyers and sellers as recently as 6 or 8 months ago are now out the window. It’s time to adjust to the “new” normal, which, in reality, is beginning to look a bit more like the “old” normal, prior to the pandemic.
What’s changed? Quite a bit, but for now, let’s focus on some of the highlights:
Mortgage Rates are Up
Mortgage rates are hovering around 7%. Compare that to the beginning of this year when rates were closer to 3.5%. The result is diminished buying power, meaning home buyers will need to come out of pocket with more cash to get the same home, or look at lower priced listings to get something they can afford.
Wondering how the housing market fared in Nocatee in July? Take a look at the stats:
Interested in learning how the market is doing in your neighborhood? Drop us a line using the form below:
As in most places, inventory continues to be a challenge in Nocatee, with just 17 new listings hitting the market in April, and another 13 going under contract. New construction helps ease the inventory issue a little bit, but the builders are facing supply chain challenges, as well. That said, 79 properties moved to pending status in April, including 41 new construction homes. Of the 78 properties that closed in April, 25 were new construction.
If you’re looking for a new home in Nocatee, drop us a line using the form below. Whether you’re looking for new construction, or a resale, we can help you navigate today’s evolving market and get you into a home you’ll love.
Tight inventory. Higher prices. Seller’s market. We hear these terms thrown around a lot when talking about the real estate market of late. But what does it really mean, at the local level in Nocatee? And what do the numbers actually say?
Let’s take a look:
Tight Inventory
Since this time last year, inventory has dropped approximately 90% on the Duval County side of Nocatee, nearly 81% on the north side of Nocatee, and 84% on the south side.
Similarly, we see a reduction in the number of new listings hitting the market. New listings are down more than 53% on the Duval side, nearly 55% in the north and nearly 38% in the south.
As for the number of closed sales, those are down 50% in Duval, nearly 70% on the north side and nearly 50% on the south side.
Pricing
When it comes to pricing, the median sale price is actually down 1.5% on the Duval side, but up nearly 42% in the north and up nearly 16% in the south.
Lastly, if we look at median percent of list price received, we see some sales coming in at asking price or more (though keep in mind there are some new construction numbers in here that may skew the data one way or the other).
Fortunately, new Nocatee communities are coming online in the next year or so, but for the time being, it looks as if the market will continue to be competitive.
If you’re ready to buy or sell in Nocatee, or you’d just like an idea of what the market value of your home might be right now, drop us a note using the form below: