Historic Real Estate Market Rebound in Jacksonville
Posted by Gwinn Volen on
By Gwinn Volen
The real estate market is on fire right now with an incredible bounce back from the onset of the pandemic. Using Ponte Vedra Beach as a sample for the greater Jacksonville market, closed sales were up 73% in June vs. May. This is the highest month over month gain since March of 2005.
Pending sales for June are up 34% vs. May. Pending sales generally represent where we are going for the next couple of months.
Why are Pending Sales Important?
With COVID and the onset of the economic crisis in March, the real estate market came to a bit of a halt for almost two months. Closed sales and pending sales were significantly down year over year, as were new listings.
Per the chief economist at the National Association of Realtors,…
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