Pending Sales Statistics Point to Higher Housing Prices Ahead On Amelia Island, Florida

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Prudential Chaplin Williams Realty advising Home Buyers interested in purchasing an Amelia Island property need to act quickly as indicators point to an immediate increase in prices.

Good things come to those who wait, but with a shrinking inventory of homes, it isn’t always the home buyer...It seems those who discover Amelia Island never want to leave.

Ever dreamed of buying a home on Amelia Island? While good things come to those who wait, it isn’t always the home buyer. In a comparison of data for single-family homes, the year to date sales between 2011 and 2012 show a 4.6% rise in closed sales, and a 10% rise in the median sales price. So, no rush…perhaps a few more homes are selling and the price might be up just a bit…Right? While that may seem like the story, a closer look paints a different picture for those interested in buying their Amelia Island home while mortgage rates are still at historical lows.

In late 2011, the Median Sales Price for a single-family home in the Amelia Island Florida area of Nassau County was $186,000. In late 2012 it was $212,485. The cost of that delayed home purchase was just over $26,000. Townhouse-condo prices have risen even more drastically from a Median Sales Price of $220,000 to $265,000. Ouch! Waiting a year and paying $45,000 more could be a painful proposition. Knowing how to look at important indicators can help savvy home shoppers stay ahead of local emerging trends and know when to consider making that special home purchase.

The local Amelia Island and Nassau County real estate experts at Prudential Chaplin Williams Realty recently took a close look at the newest statistics in order to provide a clear picture of the current trends to their clients. So, here’s the local scoop. According to the newest market information from the Amelia Island – Nassau County Florida Association of Realtors, demand for single-family homes and townhouse-condo properties is rising fast, and inventory of available homes is shrinking. It seems those who discover Amelia Island never want to leave.

The pending sales appear to point the trending direction. Between November 2011 and November 2012, pending sales increased 37.7% for single-family homes and 57.1 percent for townhouse-condo properties. Additionally, the supply of single-family homes and townhouse-condo properties decreased, with new listings down 30.2%, and 26.9% respectively. Add to that the decrease in the number of homes actually for sale on the market, with single-family homes down by 37.8%, and townhouse-condo properties down by 24.7% and the picture becomes clear. Yes, the home market in the Amelia Island area is really heating up, but yet it still remains surprisingly affordable. Median Sales Price for single-family homes is $212,485 and a bit higher for townhouse-condo properties at $265,000. For a home on a beautiful, laid-back Florida barrier island, it is one of the best bargains to be found.

For buyers who are looking forward to owning a home in the Amelia Island area, the local experts at Prudential Chaplin Williams Realty can point the way, and stand ready to guide both buyers and sellers through the complex market conditions in Fernandina Beach, Amelia Island, Yulee, and Nassau County, Florida.

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Hugh Williams
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