After years of constricted inventory, housing stock has now surpassed pre-COVID levels in both Nocatee and St. Augustine, The Citizen has learned.
There were 239 homes for sale in Nocatee in October, according to Realtor.com statistics. That’s higher than the 232 properties that were up for grabs in October of 2018.
Inventory plunged as the pandemic took hold, dipping to 214 in October 2019 before falling to 73 the following October and then to a microscopic 40 that same month in 2021.
That paucity of options pushed prices into the stratosphere, with buyers passing on inspections and offering well over asking prices to secure one of the few homes available at the time.
St. Augustine has also returned to and passed pre-COVID housing inventory levels, shooting to 457 last month.
That’s well above the pre-COVID high of 418 in October 2018. Old City inventory hit a low of just 131 in October 2021 before climbing back up each of the last three years.
Overall, housing inventory across all of St. Johns County is still slightly below pre-COVID levels, with 2,620 homes on the market last month, compared to 2,736 in October 2018.
Ponte Vedra Beach housing stock was an outlier locally, with inventory still well below pre-COVID numbers.
A total of 242 properties were available in the enclave last month, compared to 368 in October 2018.
Prices continue to rise in Ponte Vedra Beach, while sales figures are starting to retreat elsewhere in the county.
One Response
There are 718 homes for sale in Nocatee according to Zillow – yes, this includes New Build but the builders only put out a few homes at a time, there are 100’s and 100’s more in the wings from the new build. Credit card debt is screaming, 40% of Americans still have not paid off last years Holiday spend – $100k vehicles everywhere, interest rates rising – mortgages are directly related to the 5-10yr Treasury which is 100% driven by market participation – NO MATTER what the Fed does on short term rates, longer term rates will be moved up or down by the market – either folks buy US Debt or Sell it….we’ll see