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.
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 they can navigate multiple offer situations. Buyers also need to remember that if they are also selling a home, they are selling at a high too. And, interest rates continue to be incredibly low, which means they can afford much more than they could even a year ago.
What’s Next As We Roll Into Winter
Everything points to the market continuing in the same direction. National Association of Realtor’s Chief Economist Lawrence Yun predicts:
“It will be one of the best winter sales years ever.”
Rates are predicted to remain low for the next 6 months, and we continue to see an incredible influx of people relocating to Florida.
Related Articles
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- July Real Estate Data: Surge in Relocations and Low Inventory Continues
- Historic Real Estate Market Rebound in Jacksonville
- Ponte Vedra Real Estate Market During COVID-19: May Update
- Ponte Vedra Real Estate Set to Rebound After Shutdown
About the Author:
Gwinn Volen is a real estate agent with Keller Williams Luxury International in Ponte Vedra Beach. She and her team service the beach communities of Jacksonville, FL, as well as greater St Johns County.
