Properly Ponte Vedra Real Estate News From Jacquelyn Bates Coldwell Banker Vanguard Realty
Spring 2018
Real Estate on the Rise House sales in Northeast Florida rose in February over January’s numbers, and though down from a year ago, the market is strong. It continues to be a seller’s market with limited inventory, and in Ponte Vedra good demand. Even some multiple offers.
Trends to Talk About A recent National Association of Realtors (NAR) report notes that slightly more than a third of all home purchases were made by millennials over the past year, which kept them the most active generation of buyers for the fifth consecutive year. The survey also found that millennial buyers prioritize living close to friends and family over a home’s location and proximity to schools, and an overwhelming majority used a real estate agent to buy or sell a home. Well that is for sure good news! Young boomers and Gen X buyers increasingly have children and parents living at home. Led by Gen X and millennial buyers, a detached single-family home continues to be the primary type of property purchased, and older and younger boomers were the most likely to buy a multi-family home. Only 2 percent of millennial buyers over the past year bought a condo. “Foreign buyers make up a significant presence in the U.S. luxury market that will only increase as generations come here to study and geopolitical and safety factors continue to play a role, “ says Shahab Karmely, the CEO of KAR Properties, a New York-based development firm. Home prices are forecasted to slow to 3.2 percent growth year-over-year nationally, from an estimated increase of 5.5 percent in 2017. Most of the slowing will be felt in the higher-priced segment as more available inventory in this price range and a smaller pool of buyers forces sellers to price competitively. Entry level homes will continue to see price gains due to the larger number of buyers that can afford them and more limited homes available in this price range. Southern cities should beat the national average in home sales growth in 2018. Sales are expected to grow by 6 percent or more in these markets, compared with 2.5 percent nationally. Courtesy 2018 Florida Realtor ®
Spring...It’s Sprung
Best Buys
Sawgrass Country Club
Marbella
2 BD/2.5 BA
3BD/3.5 BA
$379,000
$2,350,000
The Plantation
Sawgrass Country Club Little Bay Harbor
On a Personal Note
3 BD/3 BA
3BD/3BA 3 BD/3 BA
$675,000
$489,000 $428,000
Marbella BA Square$2,350,000 Daughter Jackie and3 IBD/3.5 hit Times and environs on a great Broadway Theatre excursion in March. Freezing cold and the Wednesday wintry mix challenged but did not dampen our enthusiasm. Just meant we got last minute great seats for Hello Dolly.
A cold and snowy winter also provided great Alpine skiing for the French contingent. Jackie paid a “Dear Aunt” February Paris visit which included Léopold’s French horn concert, dinner with Annabel and Théodore’s Fifth Birthday. Glad to see Spring buds and green here now. It’s a great time to buy or sell. Please let me know if I can help you or your pals.