THE
MILLER REPORT March 2020
The
Miller Group
Your Trusted AIP Realtors
MILLER GROUP FEATURED LISTING 8 SOUND POINT PLACE $3,200,000 4767 square feet, 4 beds, 5.5 baths With Views of The ICW & Dock With Deepwater Boat Access The perfect DEEP WATER ACCESS home in Long Point! Complete with your own private dock (2018), boat lift, kayak launch, seating area, and fabulous views of the ICW, this is your rare opportunity to own the premier Amelia Island Plantation lifestyle home. You'll love fishing off your dock with your kids or grandkids, tootling up the ICW by boat to historic Fernandina Beach for lunch, exploring the marsh wildlife by kayak, and visiting with your neighbors which includes bald eagles, pelicans, dolphin, and more! Enjoy spectacular sunsets from all the main living spaces. Being tucked among moss-draped Live Oaks, down prestigious Sound Point Place offers wonderful privacy. A livable amount of square footage & NEW ROOF make for easy living. Your floor plan is perfect for entertaining with easy flow between the kitchen, butler's pantry, living room, dining room, and outdoor living. The kitchen boasts a Wolf range and SubZero fridge. (Cover photo on this issue was taken from the dock of 8 Sound Point Place.)
PRESERVE YOUR WEALTH A PRESENTATION BY THE CIO FOR WELLS FARGO PRIVATE BANK
YOU'RE INVITED! The Miller Group is excited to invite you to a timely and unique opportunity to hear investment thoughts from Adam Taback, Chief Investment Officer for Wells Fargo Private Wealth Management. Mr. Taback oversees the full investment platform for the Wells Fargo Private Bank. Given the stock market's current volatility, this is an excellent time to hear his thoughts on investment strategy. The event is set for Thursday, March 12th at The Oaks Community Center. Beer and wine will be served beginning at 5pm with Mr. Taback's presentation at 5:30pm. Please RSVP to James Miller by texting/calling 904-557-5720 or emailing jdmiller8@outlook.com.
INVESTMENT STRATEGIES, MARKET INSIGHT, & MORE! THURSDAY, MARCH 12TH, 5:00PM THE OAKS COMMUNITY CENTER
Adam Taback Chief Investment Officer Wells Fargo Private Wealth Management
RSVP TO JAMES MILLER 904-557-5720 JDMILLER8@OUTLOOK.COM
NASSAU COUNTY STATISTICS
PLANTATION STATISTICS
PLANTATION STATISTICS
PLANTATION STATISTICS
PLANTATION STATISTICS
PLANTATION ANALYSIS The number of Plantation single-family-home sales dropped by 29% in 2019 as compared to 2018. The segment of homes priced in the $600,000$999,000 had a sales unit drop of 15 units (38%) in 2019. Homes sales outside of this dollar range both below and above had about the same number of sales units in both years. Unit sales of homes located on the golf course dropped to 17 units in 2019 from 28 units in 2018. The price per square foot of homes sold increased by 7% in 2019. Average days on the market in 2019 dropped by 27% in 2019 and the price to list ratio improved to 96.1% in 2019 from 94.9% in 2018. These are both reflections of a stronger seller market in 2019. What is the overall takeaway? We believe unit sales are down in the primary Plantation category of homes priced $600,000$999,000 and golf course homes due to lack of available listed inventory in these categories. Obviously these categories overlap to some degree, but together form the majority of single-family-home sales annually. Of the 24 current active listings, ten homes are in the $600-$999,000 range and only three are on active golf courses. We believe the drop in available 2019 inventory in these popular segments with continued buyer demand resulted in the 7% increase in sales price per square foot. We expect that there will be continued upward pricing pressure on homes in these segments for 2020. The number of closed Plantation villa sales were down about 8% in 2019 vs 2018. This is not an indication of a weaker villa sales market in 2019, but rather a shift in the mix of villa types sold. The number of villas sales priced $500K to $999K dropped to 23 units in 2019 vs 43 in 2018. Most of this drop came from strong sales of Turtle Dunes, Sea Dunes and Captains Court villas in 2018 as compared to 2019. The main reason for this change was a reduction in inventory in 2019 as compared to the previous year. The drop in median sale price from $495K in 2018 to $400K in 2019 is tied directly to a change in unit mix. Units priced in the $0- $499K range made up 62% of sales volume in 2019 compared to 51% in 2018. The reality is that pricing, particularly on some high-end ocean front villas, is approaching the peak pricing levels of 2007. Inventory of these villas remains modest with demand very active. This should result in more buying opportunities in 2020 as sellers try to take advantage of a strong condo market.
UPCOMING EVENTS Amelia Island Club Events Whiskey Class With Joel Scarberry
Voices of Our Island History Series
March 19th 5:30pm to 6:30pm Long Point Summer Porch
5:30pm April 1st Long Point
Ocean Clubhouse Grand Opening Gala April 10th Ocean Clubhouse
AIPCA Community Events Neighbor's Night Out: Just Desserts March 16th 5:30pm The Oaks
Amelia Island Events AICMF: Itzhak Perlman March 19th 7:30pm - 9:30pm First Baptist Church
Egan's Creek Greenway Walking Tours March 24th 10am - 12pm Egan's Creek Greenway
Pizza Night Cooking Class March 21st 6pm - 8pm Amelia Island Culinary Academy
ABOUT THE MILLER GROUP The Miller Group is a real estate team dedicated to serving the Amelia Island Plantation and surrounding community. We have sold over $37 million worth of Plantation properties in the past few years and look forward to continuing to help the community with their real estate needs. We are extremely knowledgable about the Plantation as we both live here and our family’s history in the community extends back to 1972 when David F Miller Sr. purchased a Captains Court Villa and a Beach Wood Villa. At the time, he was an executive with JCPenney and had heard about a new development on Amelia Island, called the Plantation. He was vacationing at Jekyll Island and during a trip to the Jacksonville airport, he asked Dave Jr. to drop him off at the Waffle House located at the intersection of I-95 and A1A. He asked to be picked up at the Plantation sales office on the south end of Amelia Island upon Dave Jr.'s return from the airport. A little while later, Dave Jr. arrived at the sales office (which was a trailer) and discovered his dad had hitchhiked from the Waffle House to the Plantation with a local farmer and was a proud, new Amelia Island Plantation property owner. This was the beginning of the Miller Group’s history with the Amelia Island Plantation. Our family has decades of real estate experience through owning a residential and commercial real estate development company which developed local residential neighborhoods as well as climatized self-storage facilities throughout the southeast. We are also actively involved in serving the community. Dave is on the Amelia Island Club board and chairs the Club’s Communications Committee. James is on the Amelia Island Plantation Community Association board and chairs the New Owner Welcome Committee and Community Enhancement Oversight Committee. The Miller Group is dedicated to serving our customers. We offer a unique combination of real estate sales experience, market expertise, community knowledge, and creative marketing approaches to help our customers buy and sell within the Amelia Island Plantation. If you know anyone who needs help buying or selling real estate, please give us a call! 904-557-5720 jdmiller8@outlook.com
THE MILLER GROUP REAL ESTATE SHOW JUST RELEASED! AMELIA ISLAND CHAMBER MUSIC FESTIVAL: AN INTERVIEW WITH JOE MARASCO James and Dave interview Joe Marasco about the history and impact of the Amelia Island Chamber Music Festival. The AICMF has a mission to present the world's greatest musical artists in chamber music concerts of classical and alternative genres for diverse audiences. It is amazing to observe the level of talent that the AICMF brings to Amelia Island. Listen to this wonderful interview to discover the many ways AICMF benefits our community. To listen to this episode, go to our website and click on the video link in the top menu or type in this URL: https://www.millergroupofamelia.com/podcast/
STAY TUNED FOR THESE UPCOMING EPISODES! AMELIA ISLAND PLANTATION HISTORY SERIES THE BLUEBERRY RANCH: ORGANIC FARMING IN NASSAU COUNTY
www.millergroupofamelia.com/podcast/
THE MILLER GROUP REAL ESTATE SHOW Previous Episodes PODCAST: S.A.I.S.S.A. - AN INTERVIEW WITH DREW WALLACE LIVE AMELIA VIDEO - AURY ISLAND MILLER MINUTE VIDEO - SHOULD YOU HAVE A PRE-LISTING HOME INSPECTION PODCAST - THE NEW OCEAN CLUBHOUSE WILL BE A GAME CHANGER: AN INTERVIEW WITH DONNA BILGER PODCAST - THE EXCITING FUTURE OF NASSAU COUNTY: AN INTERVIEW WITH LAURA DIBELLA PODCAST - SHORT COURSES: THE NEWEST CRAZE IN GOLF
www.millergroupofamelia.com/podcast/ www.millergroupofamelia.com/video/
Who do you know that needs help buying or selling real estate? We would love to help them!
The Miller Group
James Miller 904-557-5720 jdmiller8@outlook.com Dave Miller 904-206-0525 dfmillerjr54@gmail.com