Travel Channel recently named Atlantic Beach one of Florida’s top 10 beaches.
They described Atlantic Beach, as a place that “exudes small-town charm, especially at the Beach Town Center where the pedestrian-friendly cobblestone streets are lined with restaurants, galleries and boutiques.”
I couldn’t have said it better myself. I’ve lived here for X years and it’s easy to see why this mostly undiscovered beach community is one of Florida’s best.
Another great thing about Atlantic Beach is it’s close to Jacksonville, one of Florida’s biggest cities. So in a sense you get the best of all worlds: Small-town charm, an amazing beach, and all the modern conveniences of a larger city, less than 30 minutes away.
With only a short drive, you can attend a NFL football game or other event at EverBank Field, watch one of Golf’s biggest tourneys at the TPC or take in some of city’s other attractions. Jacksonville has museums, art galleries, a zoo, and the Jacksonville Landing, which hosts over 300 special events each year.
Let’s Tour the Beaches
So this week I’m going to give you a quick look at the real estate market in Atlantic Beach. Over the next few weeks, I’ll also introduce you to a handful of the other beach communities that share some of the same characteristics and have affectionately become known as “The Beaches.”
Atlantic Beach Real Estate
So let’s look a little more closely at the real estate market in Atlantic Beach. I’ve based the numbers on data through July of this year.
Over that time period, 302 homes have been listed for sale in Atlantic Beach. That’s a 4.5% increase over the same period in 2014, when 298 homes had been listed. Home sales have also jumped by 11.5% YTD, as 210 homes sales have closed so far this year. That’s 22 more than in 2014, when 188 deals closed.
Sellers are receiving, on average, about 93 percent of their listing price. This is basically the same as 2014. The number of sellers getting more than listing price declined somewhat this year from 13.4% to 12.4%, a drop of 6.8%.
The number of days house stayed on the market before selling also ticked up slightly (1.3%) from 79 to 80. But inventory has plunged 23.9% from 142 homes to 108. As of the end of July 2015, months supply of inventory had fallen even more, 27.5% from 5.1 last July to 3.7 at the end of this July.
The Bottom Line
Simply put, the law of supply and demand indicates that demand for homes is rising, supply is dwindling and that should make it easier to sell your Atlantic Beach home faster and at a better price. If you’re a buyer, the quicker you purchase a home the more likely you are to get the best deal. If trends continue as they are, home prices should keep moving upwards.
We also have the prospect of an interest rate increase and mortgage rates could start increasing as early as next week. Read more about that here.
Contact Us and Get Started
If you’re thinking of buying now is the time before prices and rates go up any higher. If you’ve been thinking about selling, it’s also a great time to jump in. With housing inventory so low, you’re likely to get more interest than at any time in the last year or so.
Call us at 904-509-7584 or complete our online contact form and we’ll reach out to you.