So I was inspired by this bit o national news to look at our little mirco-markets and see if this is true locally too. I know that personally, I had more closings in December over November, but how did the local markets overall do?
They performed in the same way. In fact, Springfield and Riverside both saw a 66% increase in sales, Avondale saw a 70% increase and San Marco saw a 53% increase.
This goes along with the 2008 Market Analysis (email me for a copy). To summarzie the Analysis, it appears that at the close of 2008, these markets are starting to see price and inventory stablization. So an increase in sales would be expected as well.
I continue to have optimism for 2009, as long as we don't get hit with a plethora of foreclosures to raise inventory again and drive prices back down, I think that intown Jacksonville is on the way to recovery. 2009 will probably see a continued stabilization of prices and I am hopeful for some vlaue increases toward the end of 2009 beginning of 2010.
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