5 Bed4 Bath3,162 SF3-Car GarageBuilt 2022Preserve Lot
Primary listing photo available on the live MLS listing
Property Snapshot
List price $694,900
$ / sq ft $219.8
Original ask $729,999
Beds / baths 5 / 4
Heated sq ft 3,162
Year built 2022
Lot size 0.27 ac
Garage 3-car
Days on mkt 71
HOA $385/qtr
CDD None
automated estimate $679,000
Backs to preserve · main-level bed + bath · upstairs loft · screened lanai · $10K rate-buydown offered. Purchased new April 2022 for $551,400.
The Short Version
Listed 71 days ago at $694,900. Third time on the market in a year.
Opened at $729,999 last August, cut four times, pulled, relisted at $739,000, pulled again.
The same floor plan on Cheltenham sold in June for $685,000.
A near-identical home on Shipton is under contract at $669,000.
Fair value today is about $685,000, so the price sits roughly $9,900 over.
The time on market has made it stale, which costs more than a small trim to fix.
Recommended list price: $675,000
◆ Jon's Bottom Line
The house is fine. The history is what is hurting it. Three times on the market in a year, opening at $729,999, cut down again and again, gone twice, back now at $694,900. Any buyer's agent pulls that up in thirty seconds. While it sat, the same floor plan on Cheltenham sold for $685,000 in June, and a near-identical Shipton home went under contract at $669,000. So the price is a few thousand over what buyers have already paid, and the one comparable home asking more, Goodwood at $749,900, has gone two months with nobody. Priced right, these Kingsley homes sell in days. This one wears a stale label now, and stale takes a deeper cut to clear than a fresh listing does. Put it at $675,000 and it goes.
Jon Brooks, Housing Market Analyst, Momentum Realty Research
Market Position Score
Needs Attention
The price is only about 1 to 4 percent over where these homes sell. Time is the problem. 71 days on a third try, after two withdrawals, while buyers sign at $669K to $685K.
Estimated Current Market Value
Low
$669,000
Midpoint
$685,000
High
$699,000
Current asking price$694,900
Difference vs. midpoint+1.4% (+$9,900)
The range comes from sales inside the subdivision. The June sale on Cheltenham at $685,000 sets the middle, the Shipton contract at $669,000 sets the floor, and a 2022 build backing to a preserve holds up the $699,000 top. The wider mainland median is $687,250.
Momentum Realty Research · 93688 Newmarket Ln · Page 1 of 3
Page 2 · The Evidence
What the Market Is Telling Us
Asking prices are what sellers hope for. Pending and closed sales are what buyers actually did. This page leans on the second kind.
Chart 1 · The Pricing History
A year of chasing the market down
What this means: The home opened about 6 to 8 percent high, took four cuts, went off the market, then came back in February higher than where it left off. That year of chasing stacked up days on market. A listing carrying this much time reads as a problem to buyers, and problems get priced in. Clearing it now takes a sharper cut than a fresh listing would.
Chart 2 · Price per Square Foot
A slight premium to identical homes
What this means: Against the whole group your price per foot looks low. Bigger homes always carry a lower number per foot. Line it up against homes the same size and you sit a little high.
Chart 3 · Days on Market
Slower than the winners
What this means: The Kingsley homes that priced right sold almost on day one. At 71 days you are running about 70% longer than a normal sale here.
Subject vs. Comparable Sales · the competitive set
Sold (proven)Pending (accepted)Active (asking)Your home
Property
Status
Price
Beds / Sq Ft
Year
$/SF
DOM
92745 Shipton Ln
Sold
$750,000
5 / 3,207
2023
$234
69
94082 Goodwood Dr
Active
$749,900
5 / 3,207
2021
$234
65
92503 Shipton Ln
Sold
$695,000
4 / 2,950
2023
$236
—
93688 Newmarket Ln
SUBJECT
$694,900
5 / 3,162
2022
$220
71
92954 Cheltenham Ln
Sold
$685,000
5 / 3,207
2022
$214
0
92648 Shipton Ln
Pending
$669,000
5 / 3,178
2023
$210
94
Left out of the value set, priced on bigger lots or heavy upgrades: 94034 Goodwood 4/2,713 $889,000 ($328/sf); 94242 Goodwood 4/2,905 $875,000 ($301/sf); 4093 Buena Vista 5/2,454 $799,000 ($326/sf). These do not line up with your standard floor plan.
Supply & Demand
3.3 months of supply in your price band. Pending-to-active runs 0.35. Median time to sell is 42 days. The market is balanced and a little soft. Sharp pricing gets rewarded and optimism gets punished.
Buyer negotiating power: MODERATE TO HIGH
Price-Reduction Signal
56% of active competitors have already cut their price, a median of $25,000. Sellers here are chasing buyers. The homes that open at the right number are the ones going under contract in days.
New-Construction Pressure
You are not only up against neighbors. Builders are active on the Fernandina mainland in Amelia National, Sandy Pointe Preserve, Amelia Walk and Woodbridge. New 5-bed product near 3,000 sf has sold and gone under contract from the high $600s into the $800s, most with rate buydowns and closing help. A brand-new home for similar money is a live option for your buyer.
Momentum Realty Research · 93688 Newmarket Ln · Page 2 of 3
Page 3 · The Decision
Strategy & Recommendation
Where a buyer encounters your home relative to the alternatives.
Pricing Ladder · the comparable 5-bedroom set
What this means: Your home sits between a $749,900 listing that will not move and the $669K to $685K prices buyers are paying. A buyer shopping 650 to 700 finds you, and finds the $685K sale right next to you.
◆ The Staleness Penalty: why price below the $685K midpoint
Fair value lands around $685,000, and a fresh listing could open right there. This one is past that. It came out too high in August 2025 and stayed too high through four cuts and two trips off the market, close to a year of days piling up. Buyers and agents read a trail like that as a warning, and a warning carries a cost. A stale listing almost always takes a bigger cut than a fresh one to get moving. Pricing at $675,000 puts it $10,000 under the Cheltenham sale and out front as the value in its group. That price pays back the discount the early overpricing already created, and waiting only grows it.
Three Strategic Paths
Option A · Hold
$694,900
If a mainland 5 bed closes above $700K, the price holds up.
It sits over the $685K sale, so it likely keeps sitting past 90 days.
Would need a fresh, higher comp, and none is on the board today.
Buyer response: low to moderate
Option B · Reposition
RECOMMENDED
$675,000
A clean $10K under the Cheltenham sale, which makes it the clear value in the 5 bed group.
Still $6K over the Shipton contract, so it holds the top of what buyers are paying.
Well below the $749,900 Goodwood listing. Keep the $10K buydown for the closing table.
Priced to pull competing offers, so it likely lands between $675K and $685K.
Buyer response: strong
Option C · Market-Making
$669,000
Matches the Shipton contract and becomes the cheapest large 5 bed in Kingsley.
Fastest, most certain sale, and it may pull more than one offer.
Gives up roughly $15K to $25K against what the home could get. Use it only if speed is the goal.
Buyer response: strong to very strong
◆ If This Were My House
I would put it at $675,000. That is $10,000 under the Cheltenham sale and well below the Goodwood listing that keeps proving high prices sit here. After a year and two withdrawals this listing has to be the obvious value in its group, so buyers quit asking why it has not sold and start writing offers. At $675K you are still $6,000 over the Shipton contract, so you hold the top of what buyers are paying. I would not sit at $694,900. Keep the $10K buydown for the closing table instead of cutting again, and expect a real offer in about two to three weeks, since the Kingsley homes that price right go fast. One thing would make me hold: a comparable mainland 5 bed closing above $700,000 in the next few weeks. Short of that, price to what the sales show and let the house carry the showing.
Jon Brooks, Housing Market Analyst, Momentum Realty Research
What We're Watching
94082 Goodwood Dr, the $749,900 listing. If it cuts toward $700K it undercuts your newer build, so move first.
The Shipton contract at $669,000. When it closes, that recorded price sets the next anchor and pulls the middle down.
Builder incentives nearby. A fresh rate buydown or price drop in Amelia National, Sandy Pointe or Woodbridge pulls buyers straight to new construction.
The 90-day mark, around August 30. Crossing it adds to the two-withdrawal stigma.
A mainland 5 bed closing above $700K. That is the one number that would justify holding.
ANALYSIS CONFIDENCE: HIGHThe comps sit in the same subdivision and match on floor plan and age. One sold in June, one is under contract, one is active, and the full price history is on record. The read here is clean.
Momentum Realty Research · 93688 Newmarket Ln · Page 3 of 3
