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Real Estate News and Advice |
July 10, 2009 |
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Jacksonville's Super Sundays Predate Super Bowl
by Broderick Perkins
Jacksonville didn't need the National Football League's Super Bowl to give it a Super Sunday. Florida's largest northeastern town and the nation's largest by land mass is hosting Sunday's Super Bowl XXXIX between the New England Patriots and the Philadelphia Eagles at Jacksonville's Alltel Stadium. Any day of the week, Jacksonville, one of Florida's hottest housing markets, scores for home sellers as single-family home prices and sales can attest -- prices rose nearly 15 percent last year, according to the Florida Association of Realtors. With sales also jumping 15 percent last year, Jacksonville's sales increase ranked 6th highest among the 20 metropolitan statistical areas tracked by the association. Also, the number of single-family residential building permits issued by the four counties in the Jacksonville area rose 14 percent last year, according to county building departments and the Northeast Florida Builders Association. Ten of the nation's largest home builders vie for market share in a housing market of 787,000 residents, a population that grows by about 2 percent a year, in one of the nation's Top 20 housing markets, according to John Burns' Real Estate Consulting. A lesser known and somewhat cooler town than most of Florida's hot spots, Jacksonville has one of the Sunshine states' hottest housing markets because of a housing variety that offers something for everyone from first timers to big spenders looking for a water front view. The median price was $159,000 in 2004, according to the association, but there's an ample supply of homes ranging in price from less than $100,000 to more than $500,000 making the market appealing to all income groups, according to Site Reports data from Claritas, Inc., a demographics marketing information firm in San Diego, CA. "Jacksonville is a spread-out city (at 840 square miles, the continental U.S.'s largest) that comprises all of Duval County. The north end and west end are two areas that continue to offer locations with more affordable housing, while the south and east tend to offer more robust appreciation," said Olde Carriage Realty agent Marina Riggio, in a recent report to Realty Times' Jacksonville Market Conditions. "New construction continues to boom in Northeast Florida, while resales are rapidly turning over to accommodate buyers who are interested in pre-owned homes, may not have the time to build a new home, or are interested in an area that may not have new construction. Waterfront property continues to sell at a premium because of the limited amount of land and property available," Riggio reported. With more gray days than Miami or Fort Lauderdale far to the south on the state's peninsula, Jacksonville, in northeast Florida near the Georgia border, nevertheless gets an average 220 days of sunshine, which doesn't hurt the housing market. The city's business and growth climate is just as sunny.
For those who live there:
"Our beautiful waterways along the St. Johns River and the Intercoastal waterways allow for water entertainment and enjoyment," Keller Williams First Coast Realty's agent Celena Alters Blunk reported to Realty Times Market Conditions for Jacksonville. Jacksonville is not a perfect town, but the Super Bowl has made one of its shortcomings a cash cow for some entrepreneurial homeowners. Super Sunday is expected to draw an estimated 100,000 to 150,000 visitors and existing homeowners were asking as much as $2,000 a week to rent their homes and help fill a void left by the city's limited hotel and motel room supply. Homeowners sought rentals even after the town planned to dock five cruise ships on the St. Johns River to add an extra 7,000 floating hotel rooms. Coldwell Banker hosted one rental Web site, while another site Super Bull Rentals By Owner, changed it's name from Super Bowl Rentals By Owner, after the NFL warned the owner it infringed upon the professional sport league's intellectual property rights. "North Florida's growth is up and coming with Jacksonville out in front. Although a good sellers market at this time, the new construction gives the consumer the opportunity for exactly what they are looking for," said Blunk. Published: February 4, 2005 Use of this article without permission is a violation of federal copyright laws. Related Articles:
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