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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 you can see how the frenzy happens. Here is a look at the Ponte Vedra Beach numbers, which are again, pretty representative of every sub-market in the area.
What Does This Mean for Buyers:
Just like last month, it's important to understand how competitive this market is and keep your head on straight. Bring your "A game" if you love a home, and be sure you have an aggressive agent who knows what they are doing.
What Does This Mean for Sellers:
Sellers indeed have leverage here, and often have several strong offers to choose from. As mentioned, even in the higher end markets like Old Ponte Vedra, we are seeing homes go under contract within a day or two. As a seller, you must still do all the right things to ready your home. But if it's well cared for, presents well, and is priced strategically, you stand to do quite well in this market.
If you or someone you know is looking to buy or sell in the Ponte Vedra Beach or surrounding area, please call Gwinn Volen with The Volen Group at 904-314-5188 or email, thevolengroup@gmail.com.
About The Author
Gwinn Volen is a REALTOR, Owner and CEO for The Volen Group, Keller Williams Luxury International, a top real estate team in Northeast Florida's Ponte Vedra Beach community with annual sales of over $100M. For real estate in Ponte Vedra Beach or the surrounding area, contact Gwinn Volen at 904.314.5188 or email thevolengroup@gmail.com.
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