Real Estate August 2022

Aug 1, 2022

It is August, where has the summer gone? Has the hot housing market gone, too? We are seeing signs the North Florida housing market is changing – rising interest rates, houses on the market longer, price reductions, homebuilders offering bonuses, and increased seller concessions. Recently, Jacksonville recorded a rate of 25% of sales contracts cancelled, one of the highest rates in the country.

Six homes sold the past 3 months (according to 7/25/22 NEFAR MLS). Ranging in price $580,000 to $820,000, the homes sold 98% – 105% of the list price. The homes sold at a price per sq foot ranging from $206.43-$260.86, and were on the market an average of 22 days. In addition, 7903 Vineyard Lake sold in a private transaction. The roof has been replaced and other renovations are in the works.

Public records have not been updated yet, so I don’t have the sales information.
Two homes are For Sale in Deercreek – 10044 Watermark Ln and 10234 Cypress Lakes. These homes are both 5 bedrooms/4.5 baths and range in size from 3455 – 4240 sq ft. They have been on the market 16-31 days, and average $240.84 per sq ft. Two homes are Under Contract – 10248 Cypress Lakes, a 3791 sq ft home with 5 bedrooms/4.5 baths listed at $774,000, and 10416 Cypress Lakes, a 4 bedroom/4 bath home with 3308 sq ft, listed at $825,000. These homes are listed from $204.17 – $249.40 per sq ft and have been on the market from 16-59 days.

Summer has been an exciting time with the success of the Deercreek Swim Team. Congratulations to all the swimmers, coaches and parents for an outstanding season. Exciting is a word to describe the upcoming real estate market. Will Deercreek cool off like other areas, or will it continue with sales due to limited inventory in this desirable community?

Skip to content