|Hello, Hope your week is going great!
It doesn't quite feel like fall here in NE Florida yet. Guess the Jacksonville Agricultural Fair hasn't been to town. We did have about a week of what we Floridians know as "Fake Fall". That 3-5 days of just wonderful temps that make you think the heat is over only to get smacked back to reality the following week.
The real estate market here in NE Florida is still on fire but we may be experiencing a fake cooling here as well. There's a lot going on in DC and wall street, interest rates are creeping up and overall real estate search via google is down a bit.
This will probably not help with our inventory issue and lack of housing so I don't see prices coming down for a while but the demand may ease ever so slightly, which is to say, instead of 5 offers a just listed may have, over the next few months that property may have 3.
Mortgage Rates: 3.14% is the average up from 3.10% last week, Refinance demand is at the lowest level in 3 months & New mortgage applications are down 2% from last week but down 13% from the same week a year ago.
Real Estate Stats: Average sales price in NE Florida is up 17% YOY in Jacksonville as of Sept 21
Foreclosures: There is only 19 . See all of the foreclosures here.
New listings: You can keep up to date with every property hitting the market here on our newest listings page
Homeowners: I invested some marketing money in a new platform for you to stay on top of your homes current value and your equity position easily. I will be sending out links to many of our past clients from now until the end of the year but if you can get a jump start by visiting our new home value tool here .
Have a great rest of your week, please give me a call if there is ever anything I can do for you.
PS: The Jaguars & Trevor Lawrence will get their first win this Sunday at home vs Titans, if you are in town you may want to see it!