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Ponte Vedra Real Estate Market Update 2/19

Posted on February 19, 2012 by Gregory Kush

 
In Ponte Vedra Beach 35 single-family homes went “Pending” during the past four weeks. Last year 33 houses went under contract during the same time span. The five year average for this four week interval is 27 contracts. A contract becomes “Pending” when all contingencies (e.g. inspections, financing, lien holder approval, etc.) have been removed. Typically the closing will then take place within 30 days.

Thirty-year fixed rate conforming mortgages edged up this week to an average of 4.08% in the Jacksonville area, up from 4.07% the previous week. APR’s on thirty-year fixed rate jumbo mortgages rose to 4.62%, up from 4.60% a week earlier. Mortgage rates have been largely steady and have fluctuated in a narrow range for the past several months.

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