By Colleen Gerke, Engel & Volkers
Watch this video for a quick 3-minute analysis of the local real estate market:
| Your Monthly Market Overview |
FOR AMELIA ISLAND, FERNANDINA BEACH & THE SURROUNDING NASSAU COUNTY, FLORIDA AREA
Did you know the average 30-year fixed mortgage rate in our area is just shy of 8%? We’re starting to see the effects of that higher mortgage rate here in Northeast Florida as the real estate market is showing more signs of slowing down.
Here are the Top 5 Things you Need to Know About our Local Current Real Estate Market:
#1 – The average sales price of a single-family home in the Fernandina Beach, FL area continues to decline.
#2 – Active inventory of homes available to purchase remains steady.
#3 – Pending inventory of homes under contract and new pending sales has rapidly declined.
#4 – Homes also are taking longer to go Under Contract and ultimately sell.
#5 – More buyers are using mortgages to purchase homes in the area.
So, what do these market stats mean for you?
If you’ve been looking to buy a home, please contact me if you see a home you are interested in or are looking for a certain style home. I’d be happy find out more information and schedule a showing.
If you’ve been considering selling your home, attractive properties that are priced right are still selling. The key is pricing your home correctly from the start and top-notch marketing to positioning it properly in the marketplace.
|How much is your home worth?|
Visit my home valuation site to see how much your home is currently worth. It compares three independent market values for your home and gives you access to the profiles of potential buyers in your area.
Even if you’re not planning to sell, you can use this valuation report for financial planning, updating insurance coverage, as well as contemplating housing moves.
Get an Instant Valuation
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| Colleen Gerke|
Real Estate Advisor Engel & Völkers
First Coast 5185 S FLETCHER AVE STE 3 I I FERNANDINA BEACH I FL 32034
col[email protected] I www.closewithcolleen.comSL3481902