Real Estate in Northeast Florida and Around the World

Many people look at Florida's real estate market and consider it to be too risky, based on information heard from national media outlets.  Let's set the record straight by remembering that real estate markets are "local", and national media still doesn't get this.  National media reports national data - and from an overall economic standpoint of the country, I guess that is important.  However, just as a national unemployment number doesn't mean anything in Paduka, Kentucky, Barboursville, West Virginia, or Nocatee, Florida, a national housing report that indicates "Florida's" housing inventory is still high doesn't really tell a reader much.

So - being an expert in the Northeast Florida real estate market, let me give you some fast facts, as of September 1, 2010 (single family residential, non-condo):

• 12,755 active listings
• 1301 average sold per month in the last 6 months
• 9.8 month inventory supply
• odds of selling a home in 6 months - 24.3%

Let's take a little closer look....

• Fort Caroline area is at a 7.9 month inventory, odds of selling a home in 6 months is 27%
• The mid-intracoastal area is at an 8.3 month inventory, odds of selling a home in 6 months is 29%
• Jacksonville Beach has only an 8.3 month inventory as well, yet the odds of selling a home in 6 months is 26.7%
• San Marco has a 13.8 month inventory, the odds of selling in 6 months is 21.3%

So - what does this tell you?  If you are trying to sell a home, you need to  know exactly what your odds are of selling within a time frame that is important to you, and how to position your home for sale so that your home is in that "odds to sell" percentage.  While these numbers are all based on 6 months, the amount of time that you may have to sell may be more or less, so the numbers that you need would need to be personalized not only to your neighborhood, but to your specific situation.  I can get you this number - and at the same time, tell you that if you position your home correctly, you will be assured of not only selling, but selling when you need to sell.  Does price matter?  You bet.  Price always matters. But so does condition and location.  But it doesn't necessarily mean you have to be the lowest priced home in the neighborhood in order for your home to sell.

So, if you are thinking of selling your home but do not know where to begin - call me and we'll work together to get your home sold!

In the meantime, I'll be posting more of this type of information on my website under the "Market Data" tab in the next few days, so keep an eye out.  If you like this type of information, let me know (plus that way I'll know you are reading my blog!).