The Florida Times-Union, Jacksonville Business Journal, Financial News & Daily Record and other media outlets reported Jan. 7 on the sale by the St. Joe Company of its RiverTown community in St. Johns County to Mattamy Homes.

According to a company filing with the U.S. Securitites and Commission the previous day, St. Joe has an agreement to sell the community consisting of more than 4,000 acres to Canadian-based Mattamy for more than $43 million.

St. Joe received approvals to begin development of RiverTown in 2004. The sale to Mattamy is expected to close in February, the reports indicated.

Linda Sherrer, CEO of Prudential Network Realty, has been appointed to Berkshire Hathaway’s 2014 Luxury & Resort Advisory Council, a group that markets its luxury properties to the nation, the Jacksonville Business Journal reported Jan. 7.

Sherrer, whose company is joining Berkshire Hathaway Homeservices this year, said her appointment could help the area’s luxury real estate market as she networks with agents from top markets across the country.

The council’s work this year will include defining parameters for what is considered a luxury property and also developing a marketing campaign.

The Jacksonville area real estate market has improved from “generally poor” to “fair,” according to the Financial News and Daily Record’s story Jan. 3 about the Urban Land Institute’s “Emerging Trends in Real Estate Report” unveiled at the North Florida chapter’s recent event.

The area’s market was rated “modestly poor” and “poor” in 2009-2011 and “generally poor” in 2012 and 2013, but improved to “fair” in 2014 largely because of investment, development and home building prospects.

The full report can be seen online.

Speaking of the state of the housing market, the Jacksonville Business Journal also reported Jan. 3 that the growth of the area market is “real, robust  not inflated,” quoting Prudential Network Realty CEO Linda Sherrer.

“I see it as good and steady and robust, and about a 3 (percent) to 5 percent appreciation,” said Linda Sherrer, president and CEO of Prudential Network Realty, “which we’re very pleased and excited about, because then you know it’s real. It’s not false. It’s true appreciation, not inflated by investors doing one thing or another.”

What’s News – JAX Residential RE is a roundup of area housing news that is posted on Wednesdays. To contribute, contact [email protected]