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: