Submitted by Suanne Z. Thamm
Reporter – News Analyst
May 10, 2020
The popular real estate website Zillow just published the following information regarding property sales in the 32034 ZIP Code for the past month. Note that the 32034 ZIP Code includes the City of Fernandina Beach, unincorporated Amelia Island, and areas on the Nassau County mainland, such as Nassauville, O’Neil and Yulee.
Although the local economy has taken a hit due to the Coronavirus, the median value of residential properties has risen about $20,000 over the past year. However, the number of homes listed for sale, far exceeds sales.
This is my view. The reason why this is so, is not because of the covid-19, prices are definitely overpriced. Everyone doesn’t have that type of money to buy those houses. And most of the properties that would be good for rent, now up for sale with an outrageous price hike as to only those who have the money the ability to do so. So, why aren’t there more affordable housing for rent, instead of extra priced homes for sale? If you don’t believe me, take a ride down there and see for yourself.