“I can't change the direction of the wind, but I can adjust my sails to always reach my destination.”
 Jimmy Dean

Being flexible has been key to surviving today’s economic turbulence.  2011 ended with signs of stabilization and improvement in the real estate market and one of the main reasons is the tightening of inventory.  If you don’t believe me, just check out the numbers because they tell their own story.  There were 14,510 active properties for sale in 2010 and only 9,902 properties at the end of 2011, thereby creating a 32% decline in inventory.  2010’s “months supply of inventory” was at 10.6 months and 2011’s was at 6.7 months.  A 5 to 6 months supply is indicative of a balanced market.

The stabilization of the market is sure to bring about the tightening of inventory, which causes prices to rise and will then allow more sellers to list their homes with prices climbing during 2012.

Northeast Florida Association of Realtors market stats reflect that pending sales were up 24.5% in December of 2011.  Overall, we averaged 1,468 pending sales per month in 2011, which was a 7% increase from 2010’s 1,375. 

For Davidson Realty, 2011 showed a 20% increase in closings compared to 2010.  The median sales price was $127,900 in 2011 compared to $135,900 in 2010 giving us a 6% decline and the
average sales price of $168,887 was down 1% from the $170,906 in 2010.

A very positive piece of news is that foreclosures were down 40% according to the Metro Market Trends Report on 2011 Real Estate Activity for St. Johns County. 

Optimism is the key word for 2012 and I am looking to increase our sales staff to meet the demand of the market.  If you or anyone you know are looking for a new opportunity in real estate, please let me know.  Hope you all have a happy and prosperous 2012!