Want more information on the Tax Credit available from Obama's new plan for First Time Home Buyers? Check it out here (have to purchase in 2009 - so get off the fence!)
http://www.federalhousingtaxcredit.com/
Wednesday, April 29, 2009
1st Quarter 2009 San Marco
1st Quarter 2008
Resale Historic: 14 sales (average $177/sq ft)
Non Historic: 7 sales (average $132/sq ft)
Condo/Loft: 2 Sales (average $256/s q ft)
Average Price/Sq Ft: $170/sq ft
Average Days on Market: 172 days (Duval County averaged 109)
Median Sold Price: $285,000 (Duval County averaged $178,000)
Average Sold Price: $335,930 (Duval County averaged $219,000)
1st Quarter 2009
Resale Historic: 10 sales($129/sq ft)
Non Historic: 5 Sales ($141 sq ft)
Condo/Loft: 3 Sales (average $217/sq ft)
Average Price/Sq Ft: $147/sq ft
Average Days on Market: 110 days (Duval County averaged 113)
Median Sold Price: $221,500 (Duval County averaged $156,300)
Average Sold Price: $243,083 (Duval County averaged $187,609)
Overview
Of all the Intown Markets, San Marco has weathered the housing market pretty well. Price has, of course gone down, but days on market is faster than the Duval County average this past quarter. This means that the price is at a point where buyers are shopping. I anticipate seeing a levelling of prices in San Marco through 2009 and into 2010.
Resale Historic: 14 sales (average $177/sq ft)
Non Historic: 7 sales (average $132/sq ft)
Condo/Loft: 2 Sales (average $256/s q ft)
Average Price/Sq Ft: $170/sq ft
Average Days on Market: 172 days (Duval County averaged 109)
Median Sold Price: $285,000 (Duval County averaged $178,000)
Average Sold Price: $335,930 (Duval County averaged $219,000)
1st Quarter 2009
Resale Historic: 10 sales($129/sq ft)
Non Historic: 5 Sales ($141 sq ft)
Condo/Loft: 3 Sales (average $217/sq ft)
Average Price/Sq Ft: $147/sq ft
Average Days on Market: 110 days (Duval County averaged 113)
Median Sold Price: $221,500 (Duval County averaged $156,300)
Average Sold Price: $243,083 (Duval County averaged $187,609)
Overview
Of all the Intown Markets, San Marco has weathered the housing market pretty well. Price has, of course gone down, but days on market is faster than the Duval County average this past quarter. This means that the price is at a point where buyers are shopping. I anticipate seeing a levelling of prices in San Marco through 2009 and into 2010.
Tuesday, April 28, 2009
1st Quarter 2009 Avondale
1st Quarter 2008
Resale: 20 sales (average $162/sq ft)
New Construction: 0 sales
Condo/Loft: 4 Sales (average $158/s q ft)
Average Price/Sq Ft: $161/sq ft
Average Days on Market: 136 days (Duval County averaged 109)
Median Sold Price: $287,000 (Duval County averaged $178,000)
Average Sold Price: $254,548 (Duval County averaged $219,000)
1st Quarter 2009
Resale: 20 sales($129/sq ft)
New Construction: 0 Sales
Condo/Loft: 1 Sale (average $98/sq ft)
Average Price/Sq Ft: $127/sq ft
Average Days on Market: 139 days (Duval County averaged 113)
Median Sold Price: $165,000 (Duval County averaged $156,300)
Average Sold Price: $181,245 (Duval County averaged $187,609)
Overview
Avondale has struggled the most of the Intown neighborhoods to get through this housing market. This is because prices were so high and inventory was so high. As you can see Avondale price per square foot and average price have dropped dramatically. If Avondale can decrease its inventory, then the price point it is at now should see more sales in the 2nd quarter.
Resale: 20 sales (average $162/sq ft)
New Construction: 0 sales
Condo/Loft: 4 Sales (average $158/s q ft)
Average Price/Sq Ft: $161/sq ft
Average Days on Market: 136 days (Duval County averaged 109)
Median Sold Price: $287,000 (Duval County averaged $178,000)
Average Sold Price: $254,548 (Duval County averaged $219,000)
1st Quarter 2009
Resale: 20 sales($129/sq ft)
New Construction: 0 Sales
Condo/Loft: 1 Sale (average $98/sq ft)
Average Price/Sq Ft: $127/sq ft
Average Days on Market: 139 days (Duval County averaged 113)
Median Sold Price: $165,000 (Duval County averaged $156,300)
Average Sold Price: $181,245 (Duval County averaged $187,609)
Overview
Avondale has struggled the most of the Intown neighborhoods to get through this housing market. This is because prices were so high and inventory was so high. As you can see Avondale price per square foot and average price have dropped dramatically. If Avondale can decrease its inventory, then the price point it is at now should see more sales in the 2nd quarter.
Friday, April 24, 2009
1st Quarter 2009 Riverside
1st Quarter 2008
Unrenovated: 0 Sales
Renovated: 4 Sales (average $121/sq ft)
New Construction: 0 Sales
Condo/Loft: 3 Sales
Average Price/Sq Ft: $175/sq ft
Average Days on Market: 148 days (Duval County averaged 109)
Median Sold Price: $265,000 (Duval County averaged $178,000)
Average Sold Price: $238,816 (Duval County averaged $219,000)
1st Quarter 2009
Unrenovated: 5 Sales (average $53/sq ft)
Renovated: 2 Sales ($169/sq ft)
New Construction: 0 Sales
Condo/Loft: 1 Sale (average $284/sq ft)
Average Price/Sq Ft: $105/sq ft
Average Days on Market: 98 days (Duval County averaged 113)
Median Sold Price: $153,000 (Duval County averaged $156,300)
Average Sold Price: $203,439 (Duval County averaged $187,609)
Overview
Like most neighborhoods, Riverside has seen a decrease in price, however it is still above the average sales price in Duval County. Similar to Springfield in the 1st quarter of 2009, Riverside has seen an increase in sales of homes needing renovation work. This is a good sign that investors are back in the market and an indication that they are smelling a bottom. Unlike Springfield, low inventory has helped this market keep from dropping further and I strongly beleive it will be the first Intown Neighborhood to make a strong comeback this year.
Unrenovated: 0 Sales
Renovated: 4 Sales (average $121/sq ft)
New Construction: 0 Sales
Condo/Loft: 3 Sales
Average Price/Sq Ft: $175/sq ft
Average Days on Market: 148 days (Duval County averaged 109)
Median Sold Price: $265,000 (Duval County averaged $178,000)
Average Sold Price: $238,816 (Duval County averaged $219,000)
1st Quarter 2009
Unrenovated: 5 Sales (average $53/sq ft)
Renovated: 2 Sales ($169/sq ft)
New Construction: 0 Sales
Condo/Loft: 1 Sale (average $284/sq ft)
Average Price/Sq Ft: $105/sq ft
Average Days on Market: 98 days (Duval County averaged 113)
Median Sold Price: $153,000 (Duval County averaged $156,300)
Average Sold Price: $203,439 (Duval County averaged $187,609)
Overview
Like most neighborhoods, Riverside has seen a decrease in price, however it is still above the average sales price in Duval County. Similar to Springfield in the 1st quarter of 2009, Riverside has seen an increase in sales of homes needing renovation work. This is a good sign that investors are back in the market and an indication that they are smelling a bottom. Unlike Springfield, low inventory has helped this market keep from dropping further and I strongly beleive it will be the first Intown Neighborhood to make a strong comeback this year.
Thursday, April 23, 2009
1st Quarter 2009 Springfield
1st Quarter 2008
Unrenovated: 3 Sales (average $30/sq ft)
Renovated: 2 Sales (average $98/sq ft)
New Construction: 2 Sales (average $126/sq ft)
Condo/Loft: 0 Sales
Average Price/Sq Ft: $77/sq ft
Average Days on Market: 166 days (Duval County averaged 109)
Median Sold Price: $210,000 (Duval County averaged $178,000)
Average Sold Price: $191,171 (Duval County averaged $219,000)
1st Quarter 2009
Unrenovated: 5 Sales (average $14/sq ft)
Renovated: 1 Sales ($89/sq ft, short sale)
New Construction: 1 Sales ($144/sq ft)
Condo/Loft: 3 Sales (average $130/sq ft)
Average Price/Sq Ft: $69/sq ft (the increase in unrenovated sales, pushed it down)
Average Days on Market: 126 days (Duval County averaged 113) (again, the increase in unrenovated sales pushed it down)
Median Sold Price: $107,500 (Duval County averaged $156, 300) (again, the increase in unrenovated sales pushed it down)
Average Sold Price: $108,858 (Duval County averaged $187,609)
Overview
Overall, Springfield is stabilizing. The number of unrenovated sales has picked up and that is pushing average price down and price/sq ft down. However, the fact that these homes are being picked up is a good sign that investors are out there again - many stayed away and were waiting for signs that the bottom hit. Although average price is down and sales are down, it is not by much. A good sign - new costruction price per square foot increased. This market is stablizing and as buyer traffic increases, so will prices again.
Unrenovated: 3 Sales (average $30/sq ft)
Renovated: 2 Sales (average $98/sq ft)
New Construction: 2 Sales (average $126/sq ft)
Condo/Loft: 0 Sales
Average Price/Sq Ft: $77/sq ft
Average Days on Market: 166 days (Duval County averaged 109)
Median Sold Price: $210,000 (Duval County averaged $178,000)
Average Sold Price: $191,171 (Duval County averaged $219,000)
1st Quarter 2009
Unrenovated: 5 Sales (average $14/sq ft)
Renovated: 1 Sales ($89/sq ft, short sale)
New Construction: 1 Sales ($144/sq ft)
Condo/Loft: 3 Sales (average $130/sq ft)
Average Price/Sq Ft: $69/sq ft (the increase in unrenovated sales, pushed it down)
Average Days on Market: 126 days (Duval County averaged 113) (again, the increase in unrenovated sales pushed it down)
Median Sold Price: $107,500 (Duval County averaged $156, 300) (again, the increase in unrenovated sales pushed it down)
Average Sold Price: $108,858 (Duval County averaged $187,609)
Overview
Overall, Springfield is stabilizing. The number of unrenovated sales has picked up and that is pushing average price down and price/sq ft down. However, the fact that these homes are being picked up is a good sign that investors are out there again - many stayed away and were waiting for signs that the bottom hit. Although average price is down and sales are down, it is not by much. A good sign - new costruction price per square foot increased. This market is stablizing and as buyer traffic increases, so will prices again.
Monday, April 13, 2009
Urban Garden Renewal
One of the great things about living in an urban setting is the community. And there are many things that brings the community together. Springfield has its own community garden (open to those outside Springfield)that is actually expanding. This great article in the TU summarizes alot of the great pluses about community gardening and the many benefits. Way to go TU!
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