Patience is quickly becoming mandatory in the Nocatee real estate sector.
It took homes in the 32081 area code 89 days to either sell or be delisted last month — the longest wait since February of 2017, according to a Citizen analysis of market data.
That month — it took 99 days for a listing to either sell or get yanked.
Nocatee homes sold at a blistering pace in the midst of the pandemic, as emigres from across the nation swarmed the area and were faced with a dearth of inventory.
The frenzy hit its peak in May of 2022, when it took a remarkable average of just 18 days for home to transact.
The days on market metric (DOM) has fluctuated since that low point, but gradually increased until last month’s notable hike.
Nocatee’s DOM hit a peak of 106 in January 2017. The available data only goes back to 2016.
But property owners in the master planned community are not alone in having to play an extended waiting game of late.
Ponte Vedra Beach listings took 86 days to either sell or be delisted last month, and that number has hovered in that range since last September.
Homes in the area were snapped up in just 32 days during the COVID rush in April 2022.
Ponte Vedra Beach’s DOM saw a recent high of 106 in December of 2019.
St. Augustine homes spent an average of more than three months on the market in January, with the days on market indicator standing at 94.
That’s the longest wait since July 2019, when it took 111 days for properties to either sell or be taken off the market.
The Old City saw its COVID demand peak in April 2022 when the average days on market stood at just 27.
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One Response
Hello! I’m the artist that painted the mural you’re using as the photo/image for your article. Would love a credit added somewhere please if it’s not too much trouble. Thank you!