Landlord Tips & Tricks

July 18, 2024

Fernandina Beach, FL - Real Estate Market Overview 2025

Zoe Harper

Marketing

Fernandina Beach in Florida is famous for its lovely coastal vibe and active real estate scene. It's drawing lots of interest lately. In June 2024, the average price for homes hit $750,000. That's up by 11.1% from last year¹.

The town has about 13,401 people living in it¹. Even though the real estate market is buzzing, fewer homes were sold recently. Sales dropped from 65 to 47 homes¹. However, homes are selling faster than before¹. According to Redfin, it's important for buyers and sellers to keep up with these trends.

Key Takeaways

Median home prices in Fernandina Beach, FL reached $750,000 in June 2024, marking an 11.1% increase year-over-year¹.
Population stands at 13,401, indicating a small, close-knit community¹.
Home transactions have decreased, with 47 homes sold compared to 65 in the previous year¹.
Owner-occupied housing represents 79.95% of the homes in the area¹.
Housing appreciation rates over the last decade have averaged an impressive 9.67% annually¹.
Single-family detached homes make up 70.34% of the housing units in Fernandina Beach¹.
The rental market average price is $2,312 per month, reflecting the town's premium living standards¹.

Current Housing Market Trends in Fernandina Beach, FL

The Fernandina Beach real estate market is evolving. It shows a shift from seller-heavy to more balanced conditions. We've been tracking diverse home sales data. This gives us deep insights into the market.

Median Home Prices

The median home price in Fernandina Beach is about $579K now. That's a minor increase from last year, by 0.1%. Looking at the big picture, prices have been fluctuating. For example, in March 2031, prices peaked, hitting between $455,109 and $513,234².

Market Conditions: Buyer's or Seller's Market?

Right now, Fernandina Beach's market is neutral. It's not tilting towards sellers or buyers. In July 2024, average home prices reached $892,714. Yet, the number of homes sold fell sharply from 14 to 7 year-over-year³. This highlights a clear shift in the market.

Days on Market: How Fast Are Homes Selling?

Homes are taking longer to sell these days. The average time on the market has gone up from 50 to 59 days². By July 2024, it soared to 86 days, a big jump from the previous year's 41 days³. This slow-down shows a significant change in how buyers are approaching the market.

For up-to-date information and in-depth analysis, check out the housing market analysis page. It's packed with valuable insights².

Property Price Analysis for Fernandina Beach, FL

Recently, Fernandina Beach's housing prices have changed a lot. The median prices vary across different types of homes. This info helps both buyers and investors make better choices.

Median Sold Prices by Bedroom Count

Prices for homes with different bedroom counts have shifted. For example, 1-bedroom homes saw a huge 79.2% jump in price over a year. Yet, 3-bedroom homes increased by a smaller amount. These changes show the market's different trends, important for anyone looking to buy in the area.

Comparison with Nearby Cities

In comparison, Fernandina Beach's prices are pretty stable, changing by only 0.1%. But places like Yulee saw a 1.9% increase. These differences could influence where people decide to buy. This makes Fernandina Beach a solid choice for those looking for steady value. It's seen as a reliable area for investment over time recommended property location considerations ⁴.

Housing Supply in Fernandina Beach, FL

The housing market in Fernandina Beach has seen many changes lately. These changes show important aspects of the local market.

Number of Homes for Sale

There are fewer homes for sale in Fernandina Beach now, with numbers dropping from 351 to 326 in one month. That's a 7.1%⁵ decrease. It shows a larger trend happening in the area's real estate.

Available Homes by Bedroom Count

The types of homes available have shifted too. There are fewer 3 and 4-bedroom homes. But, 2-bedroom homes went up slightly by 2.3%⁵. This change means different options for those wanting to buy, especially if they want bigger homes.

Number of Homes Sold

Home sales in Fernandina Beach have dropped significantly. The number of homes sold fell by 34.6% from May to June⁵. This big decrease might change how the housing market works here in the future.

One particular listing is a waterfront townhome on Marsh View Way. It's being sold for $829,900. The townhome has three bedrooms, 2.5 bathrooms, and many high-end upgrades⁵.

These shifts in the Fernandina Beach housing market are signs of what's happening overall. It's vital for buyers and sellers to stay aware of these trends.

Best Neighborhoods in Fernandina Beach, FL

Fernandina Beach, FL has many nice places to live, each with its own special things that draw people. The city has 13,401 people⁶. It's a perfect blend of a small town and modern life. Some neighborhoods really stand out for what they offer for life and housing.

Dunes Club / Sea Marsh Village is popular for its fancy houses and beach. It's close to golf courses too. People here earn a lot, around $58,231 on average⁶. Homes here have grown in value a lot, up 151.81% in 10 years and 5.48% in one year⁷. You can make about $2,546 a month by renting out a home here⁷.

Amelia Park / Coastal Oaks stands out with its neat layout and parks. It's great for people who work from home, 13.73% do⁶. It's especially good for families because of its top-notch schools. Homes here have been gaining value rapidly, at a rate of 15.56% annually⁷.

American Beach is also a top choice in Fernandina Beach, FL. It's a place with rich history and new homes. It's diverse, with 12.30% Hispanic or Latino⁶. This area's home values grow at the same pace as others in the city, making it good for investors⁷.

The best areas in Fernandina Beach, FL, have a lot to offer. They have community, a nice way of life, and good opportunities for property investment. Whether you're after a place that's family-friendly, loaded with luxury, or full of history, you'll find the right spot in Fernandina Beach.

Fernandina Beach Housing Market Analysis: Past and Future

In the past year, the Fernandina Beach housing market has seen big changes. These changes mirror larger economic shifts and local factors. The number of homes for sale has grown a lot, doubling from last year. This suggests the market is now more favorable for buyers⁸. With more homes available, the average list prices have dropped from 2023 to 2024. This makes it an important time for buyers and sellers to think about their plans⁸.

Year-over-Year Price Trends

Housing in Nassau County has been on the rise since 1990, peaking in 2007. The median sales prices for homes in the Jacksonville MSA also increased from 2000 to 2007⁸. Fernandina Beach's special location has helped shape these trends, making it a competitive place for real estate. The average household income in the Jacksonville MSA in 2007 also affected buying power and market values⁸.

Forecast for the Coming Year

The outlook for next year's real estate market is cautiously positive. It depends on watching things like how many homes are for sale and their prices. Fernandina Beach aims to draw in people who care about the environment and investors. This is thanks to plans for sustainable development and energy-saving buildings⁹. Also, predictions show more people will need houses from 2010 to 2030. This supports the belief that the housing market will do well⁸.

Fernandina Beach is popular for its 13 miles of Atlantic coast beaches and pleasant winters, averaging 65 degrees. This makes it a top choice for real estate. Plus, Florida has no state tax, giving buyers more money to spend. This could lead to a lively market¹⁰.

Fernandina Beach Property Prices: Detailed Breakdown

The Fernandina Beach property market shows the cost for different kinds of properties. This includes homes for single families, condos, townhouses, and various pieces of land.

Single-Family Homes

The average price for single-family homes in Fernandina Beach is currently at $598.5K. This is a decrease from previous prices¹¹. It points out chances for buyers wanting to get into this part of the market.

Condos and Townhouses

The average cost for condos and townhouses in Fernandina Beach is $789.45K now. Since there's no past data to compare, it's hard to spot a trend here¹¹. Checking the latest numbers can really help if you're interested in these types of homes.

Lots and Land

Lots and land in Fernandina Beach have an average listing price of $185K¹¹. With no previous data to compare, this figure stands alone. These market stats might be valuable for those thinking of buying land for growth or as an investment.

To learn more about Fernandina Beach property prices, check out this link from Flyhomes, which pulls data from the Southeast Florida MLS¹¹.

Top Real Estate Agents in Fernandina Beach, FL

Finding a good real estate agent is key in Fernandina Beach's lively market. Many well-respected experts offer professional realty services to help both buyers and sellers meet their goals.

How to Choose the Right Agent

Choosing the right agent means looking at experience, knowing the market, and checking feedback from clients. The top agents in Fernandina Beach have a lot of knowledge and are dedicated to providing excellent professional realty services. They often team up with respected brokerage firms like Keller Williams Realty Atlantic Partners and Berkshire Hathaway HomeServices Chaplin Williams Realty¹². You should find agents who know the area well and show they have closed deals successfully there.

Top-Rated Agents and Their Achievements

Some top agents in Fernandina Beach stand out with their great achievements. For example, John Raker had sales of $4.3 million last year and priced homes around $739.5K on average¹³. Andrea Hatton has spent over 20 years in the field, reaching $12 million in sales last year¹³. Another agent, Jeremy McAlee, sold properties worth $6.3 million, with an average of $210K each¹³.

Jenny Schaffer also impressed with $34 million in sales last year¹³. Their outstanding results show the strong impact of Fernandina Beach's best agents. They are known for their leading professional realty services.

ERA Fernandina Beach, with over 25 agents, has served Nassau County since 1974. It stands by Integrity, Professionalism, and Commitment¹⁴. Agents like Kelli are celebrated for their great communication, knowledge, and hard work. These are essential traits for picking an agent¹⁴.

With elite agents and trusted agencies, buyers and sellers can trust the expertise in Fernandina Beach's market. For more on these experts, visit top real estate agents in Fernandina to learn more.

Insightful Real Estate Market Statistics for Fernandina Beach, FL

Last month, in Fernandina Beach, 72.5% of houses sold for less than their asking price¹⁵. This suggests a buyers' market. The gap between list prices and sold prices shows the real estate dynamic here. These differences are important for both buyers and sellers when planning.

This situation has sparked more interest in the region.

List Price vs. Sold Price

In Fernandina Beach, there's a noticeable difference between listing prices and actual sold prices. This matters a lot for those wanting to invest or buy a home². As of July 2024, the prices listed for homes keep changing. This affects how people looking to buy a home make their decision.

Sales Volume and Price Per Square Foot

The average price per square foot in Fernandina Beach has fallen from $452 to $354 over a year⁷. This drop shows a change in property values. These figures are key for anyone thinking about investing here. They show the market's state and what might happen next.

If you want to know more about buying a home in Fernandina Beach, check out this resource.

FAQ

What is the current median home price in Fernandina Beach, FL?

The median home price in Fernandina Beach, FL, stands at $750K as of June 2024. This shows an increase of 11.1% from last year.

What are the current market conditions in Fernandina Beach?

Fernandina Beach's housing market is now neutral. This change from last year's seller's market means prices are fair, and homes sell in a usual timeframe.

How long do homes typically stay on the market in Fernandina Beach?

On average, homes in Fernandina Beach stay on the market for 59 days now. This is a bit longer than the 50-day average of last year.

How have property prices changed in Fernandina Beach by bedroom count?

Prices for 1-bedroom homes in Fernandina Beach have jumped by 79.2%. Prices for 3-bedroom homes have also risen, but the increase is small.

How does the housing market in Fernandina Beach compare to nearby cities?

Fernandina Beach's market is stable with only a 0.1% change. Meanwhile, Yulee saw a 1.9% increase, showing different market trends in nearby areas.

What is the current housing inventory in Fernandina Beach?

The number of homes for sale in Fernandina Beach dropped 7.1%. It went from 351 to 326 homes in just one month.

What are the best neighborhoods in Fernandina Beach, FL?

Fernandina Beach's top neighborhoods are well-liked for their great features and lifestyle. They stand out to both locals and those looking to buy a home.

What are the year-over-year price trends and forecast for Fernandina Beach's housing market?

Prices showed a downward trend from 2023 to 2024. Watching inventory and price changes will help predict the market's direction.

How do property prices for different types compare in Fernandina Beach?

Single-family homes are listed at an average of $598.5K. Condos and townhouses are around $789.45K, and land averages at $185K.

How can I choose the right real estate agent in Fernandina Beach?

Find the right agent by looking at their market understanding, experience, and reviews. Choose someone who matches your needs in this balanced market.

What is the average list price vs. sold price, and how has the sales volume changed?

Last month, 72.5% of homes sold for less than their list price, which is good for buyers. The average price per square foot dropped to $354 this year from $452. Sales volume has seen ups and downs.