There's no way to be certain what 2012 will bring. However, a few things doseem clear enough to make some assessments. First, 2011 was not the recoveryyear it was expected to be. It was yet another "transition year" for most.Second, multi-decade low mortgage rates and suppressed home prices coalesced toform an attractive purchase environment. And buyers did just what their nameimplies - they bought. This has driven down inventory levels in many locales,which - thirdly - nudged the market balance toward equilibrium. Here's how thefinal month of 2011 concluded the year.
New listings were down 20.0 percent for detached homes and 47.6 percent forattached properties. Pending Sales increased 45.8 percent for single-familyhomes but decreased 18.2 percent for townhouse-condo properties.
The Median Sales Price was up 9.5 percent to $194,950 for detached homes and142.3 percent to $375,000 for attached properties. Month Supply of Inventorydecreased 66.5 percent for single-family units and 60.1 percent fortownhouse-condo units.
Ultimately, the upcoming spring market should be a major tell about the futuredirection of housing. Sellers are seeing multiple-offer situations; buyers areseeing sub 4.0 percent loans; supply-demand trends are more balanced. When itgets down to it, that's a stable foundation and a far cry from 2009. While thefundamentals are better, the foreclosure situation and political unknownsremain wild cards. For now, enjoy the fresh canvas.
+ 1.4% from 2010 in Closed Sales
- 58.3% from 2010 in Homes for Sale (Inventory)
+ 14.0% from 2010 in Median Sales Price
(all data courtesy of Amelia Island-Nassau County Association of Realtors)
COLDWELL BANKER THE AMELIA GROUP
2011 proved as successful and again we finished first in both listing and salesfor the entire MLS with a total of $68 million in closed sales and 15.6% of themarket. Currently, as an office, we have over $104 million in listed propertywhich is far and above any other real estate office in MLS.
On the Amelia Island Plantation, the group closed over $17.5 million in realestate in 2011 and over $16 million in 2010. Currently, the group has justunder $32 million of listed real estate on AIP, alone.
Consistently, COLDWELL BANKER, The Amelia Group ranks in the top 20 of allsimilarly sized offices over the entire United States and the top 5 in thestate of Florida.
6 Marsh Creek $1,749,000
This incredible golf view residence on gated Amelia Island Plantation isunsurpassed in quality and top-flight features. Designed by local architectJohn Cotner, this four bedroom, 5 and half bath home offers spacious rooms, 10,12 and 14 foot ceilings, heavy molding and trimwork, great room with custombuilt-ins, two fireplaces, library with abundant built ins, chef’s kitchen withlarge island, granite counters, top of the line appliances, walk-in pantry andbanquette seating. Of special note, the kitchen offers warming drawer, beveragerefrigerator, double ovens and water pedal for hands free faucet control. Thefirst floor master has fantastic golf views and offers stunning spa-likeretreat bath with Grohe spa heads, spa tub and granite topped vanity. Allbedrooms have en suite baths with granite vanity and tile bath/shower. Thelarge bonus room over the 3 car garage is delightfully hidden behind abookcase. The other “secret” to this custom jewel? A 13x49 foot toy garage fitfor the RV or car enthusiast.
11 Sound Point Court $1,200,000
Southern charmer on Long Point at Amelia Island Plantation. Surrounded by lushlandscaping, live oaks and magnolias, this low-country marsh and river viewhome is the epitome of southern elegance. Situated on three levels – all withelevator access – this three bedroom, four and a half bath home offers heartpine floors, generously sized rooms, high ceilings and 10” base & heavy crownmoldings. Framed by twin staircases, the entry opens on the second level withfeatures a sitting area and three bedrooms. Master suite has his and hersbaths and closets and access to screened porch which runs length of the home.Top level is open & bright with spacious living & dining space, has stunningmarsh/ICW views, well thought out kitchen with island veggie sink, access toporch for grilling and a sunny office.
RECENT PRICE REDUCTIONS
28 Long Point Drive $995,000 Golf View 4BR/4.5BA
22 Long Point Drive $1,120,000 Golf Views 3BR/4.5BA
To view these featured properties and all of our other listings, please visitour website at www.TroxelTeam.com. For more information or to view theseproperties, please give us a call at 904.556.3228.