By Gwinn Volen

We are six months into 2021. Unless you just don't pay attention to the news, the real estate market in Northeast Florida and across the US is on fire. Buyers and buying agents are exhausted, and here is why.

Inventory remains impossibly low in all beach areas. If we look at the last six months compared to 2020, housing supply is down 44-77% depending on which beach community you analyze.  Nocatee has the lowest inventory levels and is down a whopping 77% from last year, while Neptune Beach is down 44%.

Economics 101 Applies to Real Estate

With that decreasing supply and continued high demand equals, we have, you guessed it, increasing competition and rising prices.  

In looking at the median home sale price over the last six…

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By Gwinn Volen

Many a homebuyer interested in buying out there is asking, "is there an end in sight?"

Unfortunately for buyers, and the bleary-eyed agents trying to help them find homes, the data, as well as expert opinion, suggests there is no immediate end coming to this frenzied market.

First, the data.

Ponte Vedra Beach and Nocatee: Real Estate Over The Last 15 Years

If you look at the graph below, the trend is clear. Our area is at an all time low in terms of supply. Back in the bubble days of 2006-2007 in Ponte Vedra Beach there was a range of total inventory showing a low of 5 months and a high of 19 months. Currently, there is just 1 month of inventory. Though you see a slight upward tick as we closed out May, there has not been a…

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By Gwinn Volen

The average list to sold ratio in the Ponte Vedra Beach (32082) real estate market for the month of April was 100.5% while in Nocatee (32081), the average list to sold ratio was 102.4%. That means, when taking all price points into account, the closed sales prices in April were, on average, .5% above the list price in Ponte Vedra Beach and 2.4% above list price in Nocatee.

oceanfront condominiums in ponte vedra beach

Right now, listing prices are functioning more as the "suggested list price" or starting point. If you've seen the Tik Tok "Who Wants to Buy Apple," you'll get the gist.

Key Points For Buyers to Understand

  • There really are no deals right now. If you are hoping to have leverage and negotiation power, this is not the market for you.
  • There is a…

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By Gwinn Volen

Should buyers hold off in this crazy market? The two most important questions to ask are: a) will homes continue to appreciate and b) are mortgage rates going to rise. If the answer is yes to both of these questions, then purchasing now, even in this competitive space, is the smarter move.

Multiple offers are the new normal here in Northeast Florida and in other highly desirable areas. Buyers need to understand that they will likely pay more than they want to, and that it's an incredibly competitive landscape where acting quickly is critical, as is a clean, well-executed offer with as few contingencies as possible.

As painful as that feels as a buyer, it is the new real estate reality. But, there is good news.

Everything points…

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By Gwinn Volen

January's real estate statistics are in, and our market continues to see incredibly low inventory, creating a frenzy when a home hits the market.

News reports show that more than 1,000 new residents are moving to Florida daily. This is evident in the multiple offer situations we are seeing, at every price point, including the luxury market. Take a look at the recent under contract homes in Old Ponte Vedra, as an example. Both of these properties went under contract in under two days.

Ponte Vedra Beach housing inventory continues to linger at 1.5 months, down 67% from last January. Nocatee has only .5 months worth of inventory. Blink and any new listings are under contract. Six months of inventory is considered a balanced market, so…

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By Gwinn Volen

The December real estate statistics show more of the same for Ponte Vedra Beach and its surrounding communities. Low inventory, low days on the market and a high volume in showings.

Inventory dropped further. Days on the market dropped to just 34 days on the market.  And showings per listing were up over 100%.

ponte vedra beach real estate market stats

What Does this Mean for Sellers?

Saturday, I went by an open house in TPC Sawgrass. There were over 20 cars parked out front in the first 10 minutes. Relocating buyers, currently in rentals, were out in force to see what is out there.

Mortgage rates started the year at yet another historic low, which gives these buyers more purchase power.

If you want to sell, this is an opportune time. If priced appropriately or…

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by Brad King, Lender

The beach communities of Jacksonville are known for their perfect vacation get-a-way opportunities.  Those looking to escape the cold winters up north make a tradition of coming south to our cozy resort towns in search of warm sunshine, the beach, and golf, which makes our area a prime opportunity for an investment property.  If purchasing a home or condo has been on your mind, here are some important things you should know about a mortgage for your investment property compliments of Brad King, Mortgage Lender.

sawgrass country club aerial at fishermans cove

What is the rate difference between a Conventional Loan and a loan on an investment property?

There are three loan types: FHA, VA, and Conventional.   For investment property, a conventional loan is necessary since…

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By Gwinn Volen

Real estate inventory in Ponte Vedra Beach dropped yet again in November with only 1.9 months of inventory, down 63% from November 2019 and down 17% from last month.  The median sale price is up 34% from November 2019. Here's a look at November to November statistics for 32082:

 market stats

Seeing home prices increase like this certainly begs the question, are we entering a real estate bubble? Here are a few things to consider to keep things in perspective.

Pandemic's Impact on the Real Estate Market

COVID-19 has caused many sellers to hold off on listing their properties, which means the housing inventory is incredibly low. Low inventory means sellers have the upper-hand which drives up prices. The month over month increases are a…

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by Gwinn Volen

The US economy is slowly piecing itself back together as we forge through the COVID-19 pandemic, and the real estate market continues to be one of the strongest economic drivers, with homebuyers showing robust demand for what little home inventory there is.

Here are the October statistics for the Ponte Vedra Beach real estate market, which are representative of Jacksonville as a whole.

market data for ponte vedra beach

As you can see, the numbers show an incredibly healthy market. Prices are up and inventory is down. This is a great situation for sellers, and we are seeing homes in all price points moving, even older inventory that has been sitting, growing a beard.

This seller's market can be a little off-putting to buyers, but through the right guidance…

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By Karen Tyrrell

After 15 years of living in Ponte Vedra Beach and more than five years of looking at properties, my husband and I finally decided to buy an older home closer to the beach in an area called Old Ponte Vedra, tear it down, and build a custom home.

Sounds fun and maybe a little romantic? It’s not. At least not for us... or probably anyone with a budget.

Budgets ruin everything. Even though we knew what we wanted to do and had done a good bit of what we thought was research (happy hours at the beach with friends who had built homes), we were not nearly as prepared as we thought we would be and our expectations of so much about the process were…off, to say the least.

In this series of articles, I will write about our experiences –…

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