If you’ve been watching the real estate market in Jacksonville, FL, you probably know that the first time homebuyer market (generally speaking this pertains to properties priced at $300K and under) has been the driving force in the real estate market over the last year. The price segment just over that (from $400-$800K) has been extrememly slow with just a handful of sales.
The first one was placed under contract just 17 days after being listed. Located at 1913 Greenwood in Avondale, the home has about 2,500 Square feet, a nice big lot with big backyard and a two car garage with apartment or office above. This space has not been “finished” out but the opportunity exists for someone to do so. It’s a pending sale (inspections and financing need to be completed).
The second sale was at 5110 Yacht Club Road. This two story classic brick house is located just doors down from the Florida Yacht Club. It was listed for the first time in October 2006 for $1,220,000 and had successive price reductions until it finally expired at $899K. It was re-listed by a different realtor at $799K. It went under contract within days and closed within 30 says at $750K. The house was large with over 4,000 square feet and had a three car garage. It did need some updating but had great bones.
The third house is located at 3404 St. Johns Avenue and is considered by many to be one of Avondale’s “landmark” homes. It was also a large home of around 4,000 square feet that was in good shape but did need some updating. It had been on the market since June 2008 beginning at 1.8M. The most recent published price was $990K and it closed for $719K last week as an “as-is” sale.
If you’d like to know more about what’s going on in Avondale, Ortega or Riverside, please give me or my partner, Caroline Powell, a call. We have over 20 listings in the area and know the market inside and out. Get the benefit of working with local area experts when you work with us.
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