The "Homes Aren't Selling" Myth
So the media has been telling us about this supposed 'housing bubble' for a couple of years now, and to add to their cries of doom and gloom is the myth that homes just aren't selling today.
So, just what is the truth? The truth is that homes may not be selling in the record numbers and they certainly aren't selling at the inflated prices that they were in 2002-2005 but they most certainly are selling and sellers are most definitely making a profit on their sales.
Now, I'm not going to tell you that over-priced homes are selling but homes that are priced at fair market value are being sold every day in the Greater Jacksonville Area. Just look at the recent sales from our inventory:
Address | Neighborhood | Price | Style | Type |
9615 Wexford Road | Mandarin | SOLD $369,000 | Single Story | Residential |
7709 Westport Bay Drive | Westport Bay | SOLD $199,900 | Single Story | Residential |
8323 E. Cross Timbers Drive | Argyle Forest | SOLD $182,900 | Ranch | Residential |
3571 Chappi Way | Mandarin | SOLD $169,900 | Single Story "Attached" | Residential |
7990 E Baymeadows Road, Suite 1029 | Stonebridge | SOLD $164,900 | 3 Story "Secure 3rd Floor Lake View" | Condo |
11414 Squire Way Lane | Mandarin | SOLD $146,000 | Townhouse | Residential |
3801 Crown Point Road, Suite 1123 | Mandarin | SOLD $125,000 | Townhouse | Condo |
11785 County Road 121 | Callahan | SOLD $74,900 | Manufactured Home | Residential |
1033 Alderside Street | Brentwood | SOLD $62,900 | Single Story | Residential |
114 16th Street West | Springfield | SOLD $44,100 | 2 Story | Residential |
7640 Timberwood Drive | Southern Oaks | SOLD $34,900 | Manufactured Home | Residential |
1152 4th Street West | Barnetts | SOLD $24,900 | Bungalow | Residential |
And we can add to this list the following listings that have accepted contracts and are pending closing soon:
Address | Status | Neighborhood | Price | Style | Type |
11426 Chase Meadows Drive S. | Sale Pending | Baymeadows/Southside | SALE PENDING
$339,500 | Single Story | Residential |
368 West Tropical Trace | Sale Pending | Julington Creek Plantation | SALE PENDING
$264,900 | Single Story | Residential |
12059 Coachman Meadows Drive | Sale Pending | Coachman Meadows | SALE PENDING
$249,900 | Single Story | Residential |
3020 Havengate Drive | Sale Pending | Green Cove Springs | SALE PENDING
$209,900 | Single Story | Residential |
1022 15th Street East | Sale Pending | Springfield | SALE PENDING
$90,000 | Single Story | Residential |
9420 Gibson Avenue | Sale Pending | Bremer Hills | SALE PENDING
$44,900 | Single Story | Residential |
1234 5th Sreet West | Sale Pending | College Park | SALE PENDING
$27,000 | Single Story | Residential |
The next time you hear someone repeat the myth that homes are just not selling in our market, today, tell them to call Tim and Susan Fennell and get the straight scoop. We will provide an honest assessment of the market and tell you the truth about what price your home is likely to sell in this market. What we WILL NOT DO is give you false hope of some inflated value just to get you to list with us. That's not good for you and it's certainly not good for us or our reputation.
So, will your home sell in today's market? It most certainly will if it is price right and marketed effectively! The proof is in the puddin' (see above charts).
For more information about buying and selling real estate in Jacksonville, Florida be sure to visit our website.