Magnolia Properties of Jacksonville Inc

You can almost feel it in the air. Now that the inventory of homes on the market continues to drop........ Buyers really aren't in the drivers seat anymore. I sold a house last week and we (of course) got into a multiple offer situation. I explained to my Buyers how it works in great detail. Then I suggested that they "sleep on it" and consider their "highest and best offer". Keep in mind, they LOVE this house. We looked at a dozen others AFTER we looked at this one back in November. Everytime we left a home, they compared the others to this one. They asked me if I thought they should go in at full asking price. After another CMA and a lot of discussion, they decided they wanted it bad enough to offer full price. We did and we got it! I had written a sweet cover letter and I'd like to think that helped the Seller make his decision. My Buyers are ecstatic and we're well into the process of getting the financing together. So there you go... Another home in Jacksonville sold at asking price.


The numbers don't lie. According to the National Assoc of Home Builders, our market has shown improvement in housing permits, our employment numbers have improved and house prices have improved for at least six consecutive months. This is another indicator that our overall real estate market is improving. According to NAHB: "The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metropolitan area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list."


There may never be a better time to buy in Jacksonville. The interest rates remain low (my latest buyer locked in at 4%) and the home prices have stabilized at historical lows. We are attracting new companies and according to the Chamber of Commerce 8,000 new jobs were created in 2011. Not a huge number, but better than most cities. We're growing!!

We're excited about the real estate market in Jacksonville Florida! Things are looking up and we're looking forward to market growth.

Contact us today for more information.

Some information from the National Home Builders Association

Our condo market in Jacksonville Florida is on the road to recovery! It's been on life support for the past few years and there were several "code blues" along the way.

I'm happy to report that the patient's condition has been upgraded from critical to fair condition!

The numbers don't lie. Our inventory of condos in the Jacksonville market is down. Our inventory is down a whopping 44.2%. Our number of available units has dropped to 1086. This means that our market is down to a 5.4 months supply of condos! Wow. This is down to a "normal market" number. The median sales price of new construction condos is up an incredible 28% to $159,900. There has been a slight decrease in the median price of previously owned condos but the low inventory should help correct this fairly quickly. Fewer options should mean an increase in price. The percentage of list price received in November was 88.4% and the number of pending sales is up 12% overall.


I had pretty much written off the condo market. I was afraid that it would be years before the market stabilized. I'm pleasantly surprised to see that it's making a miraculous recovery. Could the single family market be far behind??

Call us today and we'll find a condo that meets your needs. There may not be a LOT of them on the market right now, but we'll find one that's a perfect match for YOU.

As they say, "the numbers don't lie". The Beaches area markets are all over the place! Without giving out TMI (too much information), I'll give you the hightlights and the lowlights of the Beaches market. I'll give you the condensed version.

Jacksonville Beach has fewer listings than it did in Oct 2010 (-31.7%) but the median sales price was up 9.1% ($232,300.00) over October 2010. Year to Date in Jax Beach median sale price is up only 1.4%. BUT---the key word here is UP! Inventory is down 24.3% from the same time last year. We are down to a 7 month supply of inventory in Jacksonville Beach. That's a GREAT thing!

Neptune Beach took a huge hit on the median sales price. It was down a whopping -59.7% compared to October of 2010. The Year to date numbers are a whole lot better - up 16.7% to $280,000. The median sales price in October 2010 was $501,500 and this year the median sales price was $202,000. WOW!! Ouch! There are 8 months of inventory on hand in Neptune Beach right now. This is down 46.7% vs the same inventory in October of 2010.

My head is hurting from all of these numbers! I am ready to bang my head against my computer monitor. I never was much of a bean counter! One last report to go!

Atlantic Beach had 25% fewer closings in October of 2011 than they did in 2010. The median sales price is up 20.7%. The current median sales price is $281,250. Again, the key word is UP! So the bottom line in Atlantic Beach appears to be fewer homes sold, but the ones that did sell - sold for more! There is a 7 and a half month supply of homes on the market right now in AB.

Jacksonville Beach and Atlantic Beach both showed improvement in price but fewer homes sold. Neptune Beach had a price DECREASE but year to year, the prices are up 16.7%.

The number of homes on the market continues to decline. This will probably force prices to continue rising. Interest rates remain low so this just might be the perfect time to buy.

Call me today and let's get out there and find a house at the Beach for you. Aren't you ready for a long walk on the beautiful beaches of Northeast Florida?

Living in Jacksonville, Florida, is something to be truly thankful for! As I walked along our beautiful beaches in South Jacksonville Beach this morning I had to reflect on the positive changes I see taking place in our real estate market.

Inventory is lower than I have seen it in such a long time. Movement in the upper price ranges is steadily picking up and prices seems to have stablized - even apparently rising in some places. I see the price trend increasing in Ponte Vedra, along the oceanfront, and in Marsh Landing on a recent house hunting expedition for a family relocating to Jacksonville. They were disappointed at the limited number of properties that were in their price range since their last visit.

Is the lack of inventory seasonal perhaps? Perhaps....but I havent seen much of the traditional seasonal impact on our market in the last three or four years. I dont think it is seasonal. I think the upper price ranges are recovering. Those in financial dire straits have probably resolved so very few of those more expensive homes appear to be short sales or foreclosures. This is not a researched statistic - just the result of showing homes in the last couple of weeks. I am thankful to notice the changes.

Our Hud owned listing inventory and REO's is also extremely active. The sales are HOT HOT HOT. Two sides of the same coin and signs of consumer confidence returning and banks lending. Investors are buying rental property and even talk of rehabing and selling again. I truly believe the real estate market is stabilizing.

Short sales appear to be moving more quickly. Offers occur earlier and the banks are responding more quickly.

and more most importantly, more realistically!

Just wanted to share only a small portion of all I am thankful for. I wish you a moment to count your blessings today and hopefully, among them, a feeling of confidence in our economic future!

Eileen