The Market is Steadily Improving
The Ponte Vedra real estate market has been extremely strong through May, with a four week average of 51 pending home sales. The five year average for the same four weeks is only 33 home sales. Prices throughout the Beaches have decidedly leveled off, and there have even been a number of cases where we have negotiated multiple offers resulting in sales beyond the asking prices. All experts continue to predict that 2012 is the year of the recovery, and based on what we are currently experiencing with Ponte Vedra home sales, we should have a lot to look forward to next year. For all the bargain hunters that have been sitting on the fence, time is running short. The interest rates continue to hover at record lows, and prices will begin to make their way back up once the inventory of homes in Ponte Vedra Beach becomes short in supply.