A current observation for the Riverwood by Del Webb community in Nocatee, Ponte Vedra, Florida.

The real estate market went extremely “HOT” recently!  Twentyone homes have gone under contract in the past 22 days. As quickly as they are listed they have an accepted offer. They’re pricing them to sell and the values continue to decline. If the property is priced correctly the listing is only lasting perhaps (1) day! It appears residents in our area are frightened with their current financial status and downsizing as quickly as possible, or just want out of Del Webb. Values are plummeting due to this behavior. If this trend continues ultimately the base line is not good!

My experience suggests, by squeezing inventory and with a little patience, values should begin to rise, and we become a Seller’s market due to demand again! I have been an investor, and a Realtor for 30 plus years, I only experienced this in 2004 thru 2009 and it was a frenzy, the real estate values went through the roof. It has been insane the last few weeks, never have I seen buyers moving to Florida like we are currently experiencing. Yes, it is possible we may see another scenario as the COVID-19 and it may inhibit this for a short period.

The upside, is values may begin to rise fairly rapidly by August or September. That’s a great thing for all of us. A property in the Tree Side community is for sale by owner and only listed through a realtor to get it in the MLS is my guess. Negotiations will be with the sellers. Looking for real facts, want to sell but uncertain in these uncertain times? Give me a call, 904-671-9225