Jacskonville home sales volume up, prices down

13 09 2010

According to real estate data aggregator DataQuick Information Systems, the ZIP code maps for real estate sales volume and prices appeared to tell a tale of two cities in the second quarter.

The first map, representing median sales prices, was going through a chilly period, showing prices continuing to fall in the quarter when compared to the second quarter of 2009. And in the other map, representing sales volume, things were sunny and warm: hues of yellow, orange and bold red showed there were moderate to robust sales increases throughout the metro-Jacksonville region.

In some ZIP codes, according to real estate data aggregator DataQuick Information Systems, the juxtapositions between the first map and second map were stark. In Jacksonville’s 32217 ZIP code – north of Mandarin and wedged between the St. Johns River and U.S. 1 – 93 sales in the quarter marked a nearly 140 percent increase. But the median value for those sales was down 64 percent. In the adjacent 32216 ZIP, the difference wasn’t as deep – in 135 sales, volume was up 71 percent and values were down 14 percent.

In Orange Park’s 32073 ZIP, 199 sales in the second quarter showed a 70 percent increase with a 16 percent dip in sales prices.

There were only 20 sales for the quarter in the Callahan area’s 32011 ZIP in Nassau County, but that marked an 82 percent increase in volume from the previous year’s second quarter. Median sales prices in that area were down 7 percent.

In a scant few Jacksonville ZIP codes, median sales prices actually rose: the Northside’s 32209 was up 40 percent on 40 sales; the 32081 ZIP, straddling the Duval/St. Johns County line and including part of Nocatee, saw its median price rise 21 percent on 55 sales; and Mandarin’s 32257 saw median sales prices recover by 11 percent on 121 sales for the quarter.

Likewise, sales volume nosed down in some areas of the metropolitan area in the second quarter. Yulee’s 32097 ZIP dropped 11 percent with 58 sales; Springfield’s 32208 fell 15 percent to 77 sales; and in the 32254 ZIP, volume fell by 13 percent to 26 in the quarter.

Median sales price: 2nd quarter 2010
Duval County
ZIP code Median price % chg.
32233 $137,500 -7.10%
32202 $99,500 -35.00%
32204 $107,250 2.90%
32205 $107,900 0.40%
32206 $54,000 -13.30%
32207 $119,900 4.00%
32208 $44,000 7.30%
32209 $97,500 40.30%
32210 $89,900 -0.10%
32211 $74,450 -12.40%
32216 $109,000 -14.40%
32217 $54,950 -64.00%
32218 $138,950 -10.40%
32219 $116,750 -2.70%
32220 $138,000 -0.40%
32221 $146,500 -5.50%
32222 $153,500 7.40%
32223 $170,000 -10.50%
32224 $196,000 -13.90%
32225 $158,000 -9.70%
32226 $189,990 0.00%
32234 $142,900 -6.20%
32244 $95,000 -19.50%
32246 $117,500 -14.90%
32254 $50,500 -42.00%
32256 $127,900 -21.00%
32257 $157,450 10.90%
32258 $186,050 -1.30%
32277 $108,900 -10.70%
32250 $222,500 -11.00%
32266 $250,000 -33.30%
All $126,500 -10.10%

Clay County
ZIP code Median price % chg.
32043 $154,250 -10.80%
32656 $125,000 -3.80%
32068 $145,000 -10.50%
32003 $215,000 -4.00%
32065 $169,950 -6.10%
32073 $129,000 -15.90%
All $155,000 -7.60%

Baker County
ZIP code Median price % chg.
32040 $186,500 0.30%%
32063 $122,500 -8.40%
All $130,000 -1.40%
St. Johns County
ZIP code Median price % chg.
32033 $152,000 -14.80%
32145 $48,000 -60.00%
32259 $249,995 -4.70%
32081 $310,000 21.10%
32082 $309,500 0.80%
32080 $227,550 -15.70%
32084 $119,000 -17.90%
32086 $142,500 -8.10%
32092 $193,000 -11.90%
32095 $232,500 6.70%
All $208,800 -5.10%

Nassau County
ZIP code Median price % chg.
32009 N/A N/A
32011 $156,950 -7.10%
32034 $225,250 2.40%
32046 $108,800 -26.00%
32097 $160,000 -7.10%
All $190,000 -4.50%

Sales volume: 2nd quarter 2010 Duval County
ZIP code Sold % chg.
32233 65 16.10%
32202 6 50.00%
32204 16 60.00%
32205 104 31.60%
32206 28 -3.40%
32207 98 38.00%
32208 77 -15.40%
32209 40 37.90%
32210 203 20.10%
32211 110 23.60%
32216 135 70.90%
32217 93 138.50%
32218 205 8.50%
32219 49 -9.30%
32220 31 3.30%
32221 85 18.10%
32222 51 45.70%
32223 88 11.40%
32224 147 31.30%
32225 211 27.10%
32226 90 21.60%
32234 17 54.50%
32244 207 34.40%
32246 192 26.30%
32254 26 -13.30%
32256 166 41.90%
32257 121 57.10%
32258 170 18.10%
32277 96 50.00%
32250 115 55.40%
32266 19 26.70%
All 3,076 26.70%

Clay County
ZIP code Sold % chg.
32043 80 5.30%
32656 25 47.10%
32068 193 36.90%
32003 116 54.70%
32065 147 5.80%
32073 119 70.00%
All 701 32.00%

Baker County
ZIP code Sold % chg.
32040 12 140.00%
32063 23 21.10%
All 37 32.10%
St. Johns County
ZIP code Sold % chg.
32033 17 13.30%
32145 5 400.00%
32259 264 48.30%
32081 55 89.70%
32082 189 61.50%
32080 169 9.00%
32084 179 34.60%
32086 132 17.90%
32092 184 22.70%
32095 56 9.80%
All 1,266 32.80%

Nassau County
ZIP code Sold % chg.
32009 4 0.00%
32011 20 81.80%
32034 201 41.50%
32046 10 66.70%
32097 58 -10.80%
All 300 29.90%

Duval County
ZIP code Median price % Change
32233 $137,500 -7.10%
32202 $99,500 -35.00%
32204 $107,250 2.90%
32205 $107,900 0.40%
32206 $54,000 -13.30%
32207 $119,900 4.00%
32208 $44,000 7.30%
32209 $97,500 40.30%
32210 $89,900 -0.10%
32211 $74,450 -12.40%
32216 $109,000 -14.40%
32217 $54,950 -64.00%
32218 $138,950 -10.40%
32219 $116,750 -2.70%
32220 $138,000 -0.40%
32221 $146,500 -5.50%
32222 $153,500 7.40%
32223 $170,000 -10.50%
32224 $196,000 -13.90%
32225 $158,000 -9.70%
32226 $189,990 0.00%
32234 $142,900 -6.20%
32244 $95,000 -19.50%
32246 $117,500 -14.90%
32254 $50,500 -42.00%
32256 $127,900 -21.00%
32257 $157,450 10.90%
32258 $186,050 -1.30%
32277 $108,900 -10.70%
32250 $222,500 -11.00%
32266 $250,000 -33.30%
All $126,500 -10.10%

Clay County
ZIP code Median price % Change
32043 $154,250 -10.80%
32656 $125,000 -3.80%
32068 $145,000 -10.50%
32003 $215,000 -4.00%
32065 $169,950 -6.10%
32073 $129,000 -15.90%
All $155,000 -7.60%

Baker County
ZIP code Median price % Change
32040 $186,500 0.30%%
32063 $122,500 -8.40%
All $130,000 -1.40%
St. Johns County
ZIP code Median price % Change
32033 $152,000 -14.80%
32145 $48,000 -60.00%
32259 $249,995 -4.70%
32081 $310,000 21.10%
32082 $309,500 0.80%
32080 $227,550 -15.70%
32084 $119,000 -17.90%
32086 $142,500 -8.10%
32092 $193,000 -11.90%
32095 $232,500 6.70%
All $208,800 -5.10%

Nassau County
ZIP code Median price % Change
32009 N/A N/A
32011 $156,950 -7.10%
32034 $225,250 2.40%
32046 $108,800 -26.00%
32097 $160,000 -7.10%
All $190,000 -4.50%

Source: The Florida Times-Union





U.S. Home Prices Rise but Outlook Dims

1 09 2010

U.S. home prices continued to rise in June, according to the S&P Case-Shiller indexes, but gains decelerated as a tax credit wound down.

A broader Case-Shiller index, which covers the entire U.S. and is released quarterly, gained 4.4% in the second quarter from the first three months of 2010 and 3.6% from a year earlier.

The Case-Shiller data only cover the period through June. Sales of both new and existing homes plunged in July, leaving a high supply of homes with few buyers to pick them up.

“With recent news on housing and home sales…it’s not clear that we’re going to continue this upward movement we’ve seen in the last few months,” said David Blitzer, chairman of the S&P index committee.

The market’s strongest rebound came in recent months, as home buying surged ahead of the April 30 deadline for signing contracts to receive a federal home buyers’ tax credit valued at as much as $8,000.

The deadline for contract closings was originally set for June 30 but was extended through Sept. 30.

The tax credit shifted sales to earlier in the year, creating a lull in purchasing activity during the summer months that is expected to stretch at least into the early fall. That is likely to push prices down again in many markets later in the year as a still-high rate of foreclosures adds to an already hefty supply.

Hesitancy among buyers, due to the weak economy and fears of another step down for prices, is creating substantial risks for the market.

“You’ve got a whole bunch of people who are sitting, waiting in the wings to get into house buying because they know it’s cheap, they know interest rates are low, they know it’s a highly subsidized investment,” said Wellesley College economist Karl Case, who developed the house-price index with Yale University economist Robert Shiller. “If they stay out because they’ve become a little bit more nervous, it can mean the whole market moves.”

Mr. Shiller said the overall economy also risks reverting back to recession due to weak confidence—among consumers and businesses—and high unemployment, which in turn holds back housing demand.

“It just kind of seems people are in a wait-and-see attitude so that we won’t see a massive improvement in the job market,” he said. And with support from fiscal stimulus waning, “it looks a little bit precarious right now.”

From mid-2006 to spring 2009, house prices tumbled 32.6%, according to the 20-city Case-Shiller index. With the recovery through June, prices stood 28.4% below the July 2006 peak.

In June, 17 of 20 metropolitan areas saw home prices increase from the prior month, while Las Vegas fell 0.6% and both Phoenix and Seattle were flat. The strongest monthly gains came in Chicago, Detroit and Minneapolis, each rising 2.5% from the prior month.

In the 20-city index, home prices were up about 48% since January 2000. Las Vegas has nearly returned to its January 2000 level, while Atlanta and Cleveland showed only small gains over that period and Detroit was down 30%. Prices in the Washington, D.C., area remained 86% above where they started in 2000, followed by a 76% gain in Los Angeles and 73% in the New York metro area.

Source: The Wall Street Journal








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