Jacksonville Waterfront Homes Report 2011

Stats covered in this Jacksonville Waterfront Report:

• January 1st, 2011 - August 18th, 2011
• Single family homes only
• Duval county only (Jacksonville)
• Waterfront - Navigable to ocean

Year to date closed sales:  86 Total

Current active inventory:  267 Total

32% Active to Closed Ratio

Highest 5 sales:  $2.3mm, $1.8mm, $1.7mm, $1.57mm, $1.5mm

Highest 5 active listings:  $6.9, $6.5, $5, $4.5, $4

My professional opinion:

On the higher end of the pricing spectrum, waterfront prices must come down or be taken off the market.  There are 36 homes on the market above $2.3mm, which was the highest waterfront sale in Duval county thus far this year.  Sure, some of those are worth it to someone and will sell....sometime, but in this market those home owners are best either staying put or deciding to actually price the home more aggressively.

The market is healthy below $1.8mm with 19 sales between $1.8 and $1mm.  No mans land is between $1mm-$600k with only 6 sales.  Below $600k is always fast and furious....60 sales for the year so far.

If you have a waterfront home and are considering selling, you must study the stats of homes near your home and across the broader Jacksonville waterfront market if you intend to have a successful sale.  Your REALTOR should provide you with the appropriate data so that you are well informed.  Need a waterfront REALTOR to sell your home?  Meet Brad.

Interesting tip about waterfront home shoppers: They are not as set on a specific location as you may think.  They will see a home for $900k in Mandarin but will shop around to see what their money buys on the Intracoastal, Doctors Lake, Heckscher drive, Ortega, etc.

There are only 2 prices when pricing a home:  Priced to Sell, Priced to Keep.