May 2023 Real Estate Market Update for Fernandina Beach and Amelia Island, FL
Here's your May 2023 Real Estate Market Overview For Amelia Island, Fernandina Beach and the Surrounding Nassau County, Florida Area The topic of “interest rate adjustments” seems to be topping the news these days, predicting doom and gloom for the real estate industry. But don’t stress...The real estate market in our Fernandina Beach and Amelia Island, FL area is still strong. Here are the Top 5 things you need to know about our local real estate market: 1. Just like the weather in our area, the real estate market is heating back up. The average sales price of a home in May 2023 in the Amelia Island, Fernandina Beach, and surrounding Nassau County, Florida area was $614,262. This is down just 2% compared to a year ago. But stop and think about that for a minute…That price is over half a million dollars. It’s a bit mind-boggling compared to pre-Covid prices. 2. Single-family homes are selling faster now than they have been any other time in 2023. A year ago homes in our area were staying on the market an average of just 7 days. Today homes are staying on the market an average of 27 days. While this is a big jump from last year, it’s less than half the time we were seeing earlier this year when homes were averaging 56 days on the market. Homes are also closing much faster. The median time to sale in May 2023 was just 70 days. That’s not too far off from the 56 days we were seeing this time last year, but it’s a lot faster than the 169 days we saw in February. 3. Housing supply is limited, with fewer new listings coming on the market. The number of new homes listed for sale in the Fernandina Beach and Amelia Island, FL is down more than 35% compared to this time last year. There is currently just 2.6-months supply of inventory in our area. Since supply is limited, on average sellers are currently selling their homes for 98% of their original list price. 4. Despite the rising interest rates, the proportion of financed deals in the marketplace is about the same as it was a year ago. With the higher interest rates, I’m getting a lot of questions wondering if buyers are still taking out mortgages. Currently 32% of the homes purchased in our area are paid in cash. This is down just slightly from the 35% of cash deals seen a year ago. 5. Personally, as a top local realtor, I’m seeing the real estate market getting more competitiveSomething you won’t see in these stats, but what I’m seeing and experiencing with my boots on the ground working as a top producer realtor on Amelia and Fernandina Beach, FL, are more multiple offers on properties as well as escalatory addendums. These were quite common when the market was red hot in 2021 and the first half of 2022, but hadn’t been as popular in recent months. However, they seem to be back. 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.
What is curb appeal?
What's curb appeal? It's the first impression that potential buyers or renters get of your home. A well-maintained home with a nice curb appeal will make a good impression and increase your chances of selling or renting your home quickly and for a good price when selling your home in the Fernandina Beach, Amelia Island, and surrounding Nassau County, Florida area. Here are some practical tips on how to increase your home's curb appeal: Keep your home clean and well-maintained. This means mowing the lawn, trimming the hedges, and keeping the exterior of your home free of dirt, cobwebs, and peeling paint. Add some curb appeal with flowers and plants. A few well-placed flowers and plants can add a touch of color and life to your home's exterior. Luckily, gere in Northeast Florida, we have an abundance of colorful tropical plants that grow quickly and are easy to incorporate into your landscaping. Update your front door. A new front door can make a big difference in the overall look of your home. Choose a door that is in style and that complements the rest of your home's exterior. A bright-colored door will add a pop of color to your home's exterior and make it stand out from the rest of the neighborhood. Add some lighting. Well-placed lighting can make your home look more inviting and welcoming at night. Signage. If you are selling your home, consider adding some signage to your front yard. This will help potential buyers find your home and learn more about it. Remove clutter from your front porch or yard. Clutter can make your home look messy and unkempt. Keep your windows clean. Clean windows will let in more natural light and make your home look brighter and more inviting. Windows in our local Florida climate often have a tendancy to get fogged when the seals fail. If they do, consider getting them replaced. Add some festive or local decorations. During the holidays, you can add some festive decorations to your front porch or yard to give your home a more welcoming feel. For example, when it's time for the popular Isle of Eight Flags Shrimp Festival here in Amelia Island, consider hanging a wooden shrimp door hanger on yoour door. Local store Paisley Grace Makery in downtown Fernandina Beach on Amelia Island, FL offers a great option for $60.00. Order yours here. These are just a few tips on how to increase your home's curb appeal. Feel free to contact me at (904) 866-1211 or colleen@closewithcolleen.com for more ideas. Or if you live in the Amelia Island, Fernandina Beach, or Yulee area of Florida I would be happy to schedule a walkthrough of your home! 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.
Tip to Sell Your Home: Be Flexible with Showings
When you're selling your home, it's important to be flexible with showings. This means being available to show your home on short notice and during inconvenient times, such as weekdays or evenings. There are a few reasons why being flexible with showings is important. First, it shows potential buyers that you're serious about selling your home. If you're not willing to show your home when potential buyers want to see it, they'll likely move on to another home that is more convenient to view. Second, being flexible with showings can help you sell your home faster. The more potential buyers who see your home, the more likely it is that you'll get an offer. And the sooner you get an offer, the sooner you can move on to the next chapter in your life. Finally, being flexible with showings can help you get a better price for your home. Buyers are more likely to offer a higher price for a home that they can see whenever they want. This is because they can be sure that they're getting a good deal and that there's no hidden damage or problems with the home. Of course, there are some times when you may not be able to be flexible with showings. For example, if you have young children or pets, you may need to limit showings to certain times of the day. But in general, it's best to be as flexible as possible. Here are a few tips for being flexible with showings: Let your real estate agent know your availability. The more flexible you can be, the better. Be prepared to show your home on short notice. Potential buyers may call your agent at the last minute to schedule a showing. Make sure your home is clean and presentable at all times. Potential buyers are more likely to make an offer if your home is clean and well-maintained. Be friendly and welcoming to potential buyers. Buyers should feel comfortable in your home and should be able to imagine themselves living there. By being flexible with showings, you can increase your chances of selling your home quickly and for a good price. So don't be afraid to say yes when your real estate agent calls with a showing request. You could be one step closer to moving into your dream home. In addition to the tips above, here are a few other things you can do to make your home more appealing to potential buyers: Declutter your home. Potential buyers should be able to see the potential of your home, not the clutter that's currently in it. Stage your home. Staging your home means arranging furniture and décor in a way that makes the space look its best. This can help potential buyers envision themselves living in your home. Have more questions or need more tips about selling a home in the Amelia Island, Florida area? Feel free to reach out to me at (904) 866-1211 or colleen@closewithcolleen.com. I would be happy go to provide you with a stress-free selling experience selling your home, providing you with a peace of mind through every step of the home selling process. 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. Fix any problems. Before you start showing your home, make sure to fix any problems that potential buyers might notice. This could include things like leaky faucets, broken windows, or peeling paint. By taking these steps, you can make your home more appealing to potential buyers and increase your chances of selling it quickly and for a good price.
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