$2 million+ homes inventory escalating
According to the multiple listing service in Northeast Florida, in 2007 there were 70 homes listed priced $2.0million and above. During the past 18 months, 25 of those sold.
In 2008, there are currently 131 listings priced $2.0 million and above, in the first 7 months of this year, only 9 of those have sold. At this current rate of sales, we have an 8 year supply of multi-million dollar properties in Northeast Florida with the bulk of those located in the Beaches & Ponte Vedra area as expected.