“National headlines mask regional variability.” You’ll see this line on the overview page of the Monthly Indicators report from the Northeast Florida Association of Realtors. Why highlight it here? I think it’s important in light of national housing headlines describing prices as “creeping” upwards, “making small gains” or “stabilizing”. Locally, you can look at Ponte Vedra Beach North, where the median sales price is up 28.5%. Or Atlantic Beach, where it’s up 36.6%.
Of course, this isn’t the norm for every Northeast Florida market, but the message is clear. Make sure you understand what’s happening on the ground where you plan to buy or sell when making a real estate decision. National headlines make for a nice summary. But every neighborhood has its own story to tell.