Oyster Bay Harbor Neighborhood Real Estate Update - 2023, 4rd Quarter
We had some significant sales of homes in the Oyster Bay Harbour community of Fernandina Beach, FL this past quarter, which has an impact on your property values. As a top listing agent in the Oyster Bay Harbour neighborhood as well as a resident realtor, here's a quick recap of the Oyster Bay Harbour real estate market as we close out 2023. Recent Home Sales in Oyster Bay Harbor 96254 Soap Creek – Sold 11/30/2023 for $2,050,000 ($514/sq-ft.) – MLS #106514 96450 Bay View – Sold 11/30/2023 for $1,250,000 ($499/sq-ft.) – MLS #106513 96160 Soap Creek – Sold 12/29/23 for $860,000 ($373/sq-ft.) – MLS #106346* 96557 Bay View – Sold 11/06/2023 for $880,000 ($429/sq-ft.) – MLS #103836* 96422 Contessa Pointe – Sold 11/22/2023 for $840,403 ($296/sq-ft.) – MLS #98662* Five homes sold during the 4th quarter of 2023. Two homes were new builds, and three were existing homes, two of which I both listed and sold. The $2,050,000 sales price of the home I listed and sold at 96254 Soap Creek Dr. equated to a whopping $514/sq-ft. This was a record-setting square-foot price sold for the Oyster Bay Harbour. The average square-foot price of homes sold in the 4th Quarter of 2023 was $422/sq-ft. This was up 17% from the $360/sq-ft. average price last quarter, and up 26% from the $334/sq-ft. average price this time last year. Not factored into this average valuation is the unique estate located at 96604 Sand Penny Island. This property sold for $3,200,000 million on 10/12/23 and had been listed for sale for $4,650,000. Homes Currently Available for Sale in Oyster Bay Harbor 96058 Bay View - $989,000 – MLS #106394* 96026 Park - $999,800 – MLS #105512 96199 Light Wind - $1,095,000 – MLS #106126* 96478 Soap Creek - $1,399,000 – MLS #1179202* As of December 31, 2023 there are currently four existing homes listed as Active for sale in the Oyster Bay Harbour neighborhood of Fernandina Beach ranging in price from $989,000 - $1,399,000. The average listed price per square foot is $350. New Home/Lot Packages Available for Sale in Oyster Bay Harbor 96582 Bay View - $920,000 – MLS #1245407* 96564 Compass Pointe - $949,000 – MLS #106442* 96760 Soap Creek - $2,085,000 – MLS #106367* There are also currently 3 lot/home building packages listed Active for sale in Oyster Bay Harbour with an average price of $1,318,000, or $383/square-foot. Homes Under Contract in Oyster Bay Harbor 96630 Bay View – Listed for $1,100,000 – MLS #106359* 96594 Compass Pointe – Listed for $949,000 – MLS #105857* 96558 Compass Point – Listed for $899,000 - MLS #103512* 96569 Bay View - Listed for $879,000 - MLS #103510* 96600 Compass Point - Listed for $869,000 - MLS #102828* 96401 Contessa Point - Listed for $719,000 - MLS #101678* 6 homes are currently Under Contract in the neighborhood. All of these homes are in the process of being built by Artisan and New Atlantic builders. The average square-foot price of these homes is $338/square-foot, for a total average price of $902,500 per home. However, this listed price may differ from the final sale price once the homes are fully specked out and built. Vacant Lots Sold in Oyster Bay Harbor 96442 Soap Creek - $250,000 – MLS #105485 If you watched my video last quarter, you learned that vacant lot sales have slowed down and that no vacant lots had sold in the first three quarters of 2023. However, I have some good news this quarter as there has been some movement in the 4th quarter of 2023. I’m happy to report I sold the vacant lot at 96642 Soap Creek Dr, on 11/21/2023 for $250,000. Vacant Lots Under Contract in Oyster Bay Harbor 96621 Bay View – Listed for $375,000 – MLS #106407 Additionally, another lot I listed for sale at 96621 Bay View Dr. in late November went Under Contract in just 12 days. Vacant Lots Available for Purchase in Oyster Bay Harbor 96426 & 96430 Conch - $299,900 - MLS #104817 96602 Bay View - $299,000 – MLS #1245484* 96760 Soap Creek - $290,000 – MLS #105709* 96600 Soap Creek - $285,000 - MLS #106714 96614 Bay View - $275,000 - MLS #105816* 96424 Soap Creek - $275,000 – MLS #105506 96634 Soap Creek - $270,000 - MLS #104020* 96588 Soap Creek - $269,000 – MLS #106441 96744 Soap Creek - $235,000 - MLS #104358* 96720 Soap Creek - $225,000 - MLS #105635* There are currently 10 vacant lot listings Active for sale, 4 of which I have listed for sale. The average price of lots listed for sale is $272,656. I will be hosting an Open House at the side-by-side lots I have listed at 96600 & 96588 Soap Creek Dr. on January 7th from 11:00-1:00 p.m. Swing by for some muffins and mimosas and see these marsh front lots for yourself! What Buyers are Looking For in Oyster Bay HarborI do have several customers I’m working with who are looking for a vacant interior lot in Oyster Bay Harbour, and several more customers who are looking for an existing single-story home in the community. If you have either of these options and would consider selling, please feel free to reach out to me. Curious how much your home in the Oyster Bay Harbour neighborhood of Fernandina Beach, Florida is worth? Visit my web page devoted to the neighborhood Oyster Bay Harbour at https://www.CloseWithColleen.com/OysterBay Visit https://www.CloseWithColleen.com/listing to search for a home in the Oyster Bay Harbour neighborhood, or around Amelia Island and Fernandina Beach, Florida. How can you find out when a home in the Oyster Bay Harbour Community is listed for sale? Join the Oyster Bay Harbour Buyers waitlist at https://www.CloseWithColleen.com/OysterBayWaitlist Or feel free to call or text me at (904) 866-1211 or email me at Colleen@CloseWithColleen.com if I can help with any of your real estate needs in the Oyster Bay Harbour community, or around Fernandina Beach, Amelia Island, Yulee, or Nassau County, Florida. ABOUT TOP FERNANDINA BEACH REALTOR COLLEEN GERKEColleen Gerke is a Top Producer Realtor in Fernandina Beach, Amelia Island, Yulee and the surrounding Northeast Florida area. Colleen has a top 5-Star rating on Zillow, Yelp, Realtor.com and Facebook. She strives to be the best real estate agent you’ve ever worked with! Whether you’re looking to sell your house in Fernandina Beach, move to Amelia Island, or add a Florida property to your rental portfolio, you’ll have a stress-free real estate experience when you Close with Colleen.*Home is not listed for sale by Colleen Gerke of Engel & Volkers First Coast.
The Top 5 Things to Know About the Fernandina Beach, FL Real Estate Market This Month
This month there’s good news for both home buyers and sellers in the Fernandina Beach and Amelia Island, Florida area! Mortgage rates are starting to ease and the average sales price of a home is up compared this time last year! Here are the top 5 things you need to know about the real estate market in our area this month: The average sales price of a home is 11% more than it was this time last year. The current average sales price of a single family home is $667,405. This is up 11% from the average sale price of $601,824 we saw this time last year. It’s also up from the average sale price of $626,211 we saw just one month ago. Average interest rates of home mortgages have decreased to some of the lowest rates we’ve seen this year. According to Freddie Mac, the average rate on a 30-year mortgage dropped to 6.67% from 6.95% last week. A year ago, the rate averaged 6.27%. The current average rate is now back to where it was in late June. If you have more questions about mortgage rates, feel free to reach out and I’m happy to connect you with a lender who can tell you more. Homes are averaging 53 days on the market before they go Under Contract. This is almost double compared to what it was just one month ago and is also almost double from the 34 days we were seeing time last year. The average time it takes to sell a home is 121 days. This is up from 101 days last month, and 104 days this time last year. Current inventory of homes is remaining steady at 2.7-months of inventory. This is exactly the same amount of inventory we saw this time last year and is consistent with what we’ve been seeing throughout 2023. How much is your Fernandina Beach, Amelia Island or Yulee home worth in today's real estate market? Get a FREE instant home valuation here. Even if you're not looking to sell your home right know, knowing you're home's value can help you with financial planning, updating insurance coverage, as well as contenplating potential housing moves. I’d be more than happy to answer any questions you have about these real estate market stats for the Amelia Island, Fernandina Beach, Yulee and surrounding Nassau County, Florida or any real estate related questions you may have! Feel free to contact me at (904) 866-1211 or colleen@closewithcolleen.com. ABOUT TOP FERNANDINA BEACH REALTOR COLLEEN GERKEColleen Gerke is a Top Producer Realtor in Fernandina Beach, Amelia Island, Yulee and the surrounding Northeast Florida area. Colleen has a top 5-Star rating on Zillow, Yelp, Realtor.com and Facebook. She strives to be the best real estate agent you’ve ever worked with! Whether you’re looking to sell your house in Fernandina Beach, move to Amelia Island, or add a Florida property to your rental portfolio, you’ll have a stress-free real estate experience when you Close with Colleen.
The Top 5 Things to Know About the Fernandina Beach, FL Real Estate Market This Month
Did you know the average 30-year fixed mortgage rate in our area is just shy of 8%? We’re starting to see the effects of that mortgage rate here in Northeast Florida. I’m Colleen Gerke of Engel & Volkers First Coast here on Amelia Island, and here are the Top 5 things you need to know about our local real estate market this month: #1 – The average sales price of a single-family home in the Fernandina Beach, FL area continues to decline. The current average sales price of a home in our area is $560,375. This is down 8.5% compared to one year ago, and down 9% from the average sales price of $612,124 we saw a month ago. #2 - Active inventory of homes available to purchase remains steady. There’s lots of talk in the news that inventory of homes available for purchase is low. In our area, there is a 2.7-months supply of homes listed active for sale, which is about what it has been for most of the year. #3 - Pending inventory of homes under contract and new pending sales has rapidly declined. While the number of homes available for purchase has remained steady, the number of homes pending sale – or Under Contract – has decreased by 45% compared to this time last year. New pending sales have also decreased by 26%. These are key indicators that the real estate market is starting to slow down. #4 - Homes also are taking longer to go Under Contract and ultimately sell. In September 2023 the median time to go Under Contract was 48 days, and the median time to sale was 135 days. This number has continued to increase throughout the year. A year ago, the median time to contract was just 23 days and homes were selling in 74 days. #5 - More buyers are using mortgages to purchase homes in the area. While interest rates have increased to some of the highest rates we’ve seen this year, surprisingly more buyers are using loans to pay for their home purchase in September 2023 30% of homes were paid for in cash. This is down from 37% of homes being paid for in cash a year ago. That said, no one has a crystal ball and can for sure tell you exactly what the real estate market is going to do going forward. However, if you’re thinking of buying a home or selling a home I’m always happy to sit down with you and talk through your situation. Then, I can help develop a customized real estate plan that has your best interest at heart. Feel free to contact me to set up a free consultation. How much is your Fernandina Beach, Amelia Island or Yulee home worth in today's real estate market? Get a FREE instant home valuation here. Even if you're not looking to sell your home right know, knowing you're home's value can help you with financial planning, updating insurance coverage, as well as contenplating potential housing moves. I’d be more than happy to answer any questions you have about these real estate market stats for the Amelia Island, Fernandina Beach, Yulee and surrounding Nassau County, Florida or any real estate related questions you may have! Feel free to contact me at (904) 866-1211 or colleen@closewithcolleen.com. ABOUT TOP FERNANDINA BEACH REALTOR COLLEEN GERKEColleen Gerke is a Top Producer Realtor in Fernandina Beach, Amelia Island, Yulee and the surrounding Northeast Florida area. Colleen has a top 5-Star rating on Zillow, Yelp, Realtor.com and Facebook. She strives to be the best real estate agent you’ve ever worked with! Whether you’re looking to sell your house in Fernandina Beach, move to Amelia Island, or add a Florida property to your rental portfolio, you’ll have a stress-free real estate experience when you Close with Colleen.
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