Market Report November 6th, 2012
Good day! Here is the first of many market reports. Today’s market report is for Marsh Landing Country Club in Ponte Vedra Beach. These market reports will cover different communities, neighborhoods and streets as well as Palm Valley and Old Ponte Vedra. Over the next few weeks we’ll cover all of Ponte Vedra Beach.
Since January 1st of this year Marsh Landing has sold 47 homes, which is excellent turnover in our first full year of the real estate recovery. The box below includes 4 numbers that current residents and prospective residents alike should be interested in.
The first box is sold price, pretty simple. However, given the recent real estate market in Ponte Vedra Beach, 47 solds at an average of just over $800,000 is incredible. The next box is very important for both buyers and sellers, and that is the sale price divided by the list price. This is a number that buyers and sellers should keep in mind. The days of making “low ball” offers are long gone not just in Marsh Landing but in Ponte Vedra Beach in general. Homes in Marsh Landing are selling for 93% of their list price. Sounds great for sellers, right? Yes, but keep in mind the price you list your home at and the number of days your home is on the market go hand in hand. Your list price should be determined by the market not you or your realtor. The longer your home sits on the market the less desirable it becomes in the eyes of buyers. I hear all the time from buyers, “If its been on the market for this long there must be something wrong with it.” Usually that is true. The next box is sale price per square foot. This is a good ballpark number and one to keep an eye on to see how your community is doing as a whole. The final box is cumulative days on market. The average sold home this year in Marsh Landing was on the market for about 7 months.
Here is where we stand with active listings as we approach the end of the year:
*Information provided by NEFAR MLS
I hope you enjoyed the Marsh Landing report and found it informative.
Real estate is my passion and something I greatly enjoy doing as well as talking about. Feel free to call or email me anytime.