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Last Chance at Ocean’s Edge

March 20th, 2013 · Leave a Comment

There has never been a better time to purchase at the condominium community of Ocean’s Edge in South Jacksonville Beach.

The beaches condominium market has changed considerably in recent years and sales have been increasingly strong while available inventory is shrinking to next to nothing. For the first time in years, there are significantly fewer number of residences available for sale including just 14 condominium homes at Ocean’s Edge.

“This is a classic case of supply and demand – the demand is there but the supply is not and prices are definitely on the rise,” said Victoria (Vikki) Robbins of Victoria Robbins Realty, Inc., the real estate company responsible for sales at Ocean’s Edge. “This is the last chance to take advantage of an incredible deal at a great community so close to the beach.”

The numbers really tell the story. Since January 2012, there have been 342 closed condo transactions for the total beaches market (Atlantic Beach, Neptune Beach, Jacksonville Beach and Ponte Vedra Beach) for all price ranges, according to Northeast Florida Multiple Listing Services (MLS) data. That is approximately 24 sales a month during a 14-month period (January 2012 to February 2013).

Since January 1, 2013, 66 condos have gone under contract and are pending to close in the total beaches market and in all price ranges – which is an incredible sales pace for a small geographic area and in such a short time period. Currently, the beaches market has less than a two month supply of resale condominiums for sale.

“Of course, there will be more condos listed for sale but the supply simply cannot keep up with the demand,” Robbins said.

There is incredible demand for Ocean’s Edge. There were 48 closed sales at Ocean’s Edge in 2012, up from 36 sales reported in 2011. Of all the condominiums sold in 2012 in the beaches market, Ocean’s Edge garnered a 43 percent market share for condominiums sold in the beaches real estate market, according to Northeast Florida MLS data.

Currently, the developer of Ocean’s Edge has only 14 condominium residences remaining for sale, including the models and sales office, and the community is on track to sell out this year, most likely in the next few months.

The community offers low maintenance living with one-, two- and three-bedroom condominium homes, ranging in size up to 1,417 square feet of living space. Homes range in price from $171,000 to $269,000.  More information is available at www.oceansedgeliving.com.

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