What’s Happening with Real Estate in Saint Augustine Florida

Have you been wondering what’s happening with real estate in Saint Augustine Florida?  That is what this month’s blog is about.  Real estate in general has really picked up in the 2^nd and 3^rd quarter of 2013 and real estate in Saint Augustine Florida is following the same pattern. 

Home Prices
One area affecting real estate in Saint Augustine Florida are home prices.  The prices of homes have risen 11.7% from a year ago.  Home prices have had 10 consecutive months of double-digit year-over-year increases.

Home Sales
Real estate in Saint Augustine Florida was also affected by amount of home sales.  The sale of homes  dropped slightly last month 1.5%. However sales remain 10.9% percent above year-ago levels.  Existing condo sales dropped 4.7% but they’re 8.9% above year-ago levels

Distressed Homes
Foreclosure and short sales accounted for 14% of real estate in Saint Augustine Florida, down from 24% last year.  According to the National Association of REALTORS (NAR) lower levels of distressed properties accounted for some of the increase of median prices.

Inventory
The inventory of real estate in Saint Augustine Florida last month held steady with a 5 month supply at the current sales pace, but is diminished from a year ago.

Days on the market.  
The median time on the market for real estate in Saint Augustine Florida for all homes was 50 days last month, up from 43 days in August but down from 70 days a year ago.

Team Johnson
Watson Realty Corp
3505 U.S. 1 South
St. Augustine, Florida 32086
904-495-0146
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The stats in the blog were used courtesy of NAR