Jacksonville Daily Record 4/28/22

Page 1

APRIL 28 TO MAY 4, 2022 | JAXDAILYRECORD.COM

BUSINESS & LEGAL NEWS IN BAKER, CLAY, DUVAL, NASSAU AND ST. JOHNS COUNTIES

INSIDE

RESIDENTIAL REAL ESTATE ISSUE

THE HOUSING MARKET SQUEEZE GOVERNMENT

$374,994

$360,000

$360,000

$347,093

$338,500

$337,861

$340,000

$320,000

$315,000

$315,000

PAGE 8

$475,000

$450,000

$435,000

$500,000

$345,844

The median price of homes sold in St. Johns County surged from $320,000 in the first quarter of 2019 to $475,000 in the first quarter of 2022, a 48% increase according to realMLS.

$415,637

SURGING PRICES IN ST. JOHNS COUNTY

$500,000

$300,000

Residential tower could rise at former Landing site

MORE REAL ESTATE INSIDE

$200,000

What’s next for home sales: Industry experts Carol Zingone, Jennifer White and Eric Spottswood offer insight into the market facing rising interest rates, tight inventory. Page 4

$100,000

Not enough fridges, listings: Supply shortages a problem for builders and real estate agents. Page 5

Q1

Q2 Q3 Q4

Q1

Q2 Q3 Q4

2019

2020

Q1

Q2 Q3 Q4 2021

Q1 2022

YOU SHOULD KNOW

Veterinarian Jaime Pickett leads at Pet Paradise PAGE 11

Top 10 lists: The top home sales of the first quarter of 2022 and the top sales of the past week. Pages 6-7

Affordability drops amid headwinds of rising prices, low supply and surging mortgage rates. BY DAN MACDONALD STAFF WRITER

S

t. Johns is one of 26 counties nationwide where a single-family home has been deemed unaffordable to those making the area’s median income, according to an April 12 study released by Moneygeek.com, a San Francisco-based personal

finance and data research website that provides economic data for those managing their own money. St. Johns joins the counties anchored by Austin, Texas; Reno, Nevada; Salt Lake City, Utah; and Denver on the list of 26. In Florida, Colliers County (Naples) was No. 2 and Sarasota County was No. 18. When the report was researched in fall 2021, St. Johns County’s $392,732 median

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price for a single-family home was found to be unaffordable to those making the county’s median income of $40,897. It placed St. Johns No. 11 with the county led by Boise City, Idaho, taking the No. 1 spot. At $40,897, a mortgage loan would require 63% of the family’s annual gross SEE AFFORD, PAGE 5

THE MATHIS REPORT

Daily’s parent company preparing new headquarters First Coast Energy, the parent company of the Daily’s convenience store chain, plans to renovate and move into its new Southside headquarters. PAGE 10

PORT AUTHORITY

Southeast Toyota Distributors signs new deal PAGE 3 THE BASCH REPORT

SG Blocks moves to Jacksonville A modular building company that converts shipping containers for structures has moved its headquarters to Gate Parkway. PAGE 14

VOLUME 109, NO. 49 | THREE SECTIONS | PUBLISHED SINCE 1912


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