Jacksonville FL Real Estate - Jacksonville FL Homes For Sale | Zillow (2024)

FAQs

Are housing prices dropping in Jacksonville Florida? ›

Summary: Jacksonville housing prices by bedroom type for July 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 8.9%.

Data as of December 31, 2023, indicates that the Jacksonville Metropolitan Statistical Area has been experiencing a steady trend with a projection of a 0.1% increase in home prices by January 2024, and a 0.3% rise by March of the same year. This suggests a consistent growth pattern in the market.

Jacksonville has been ranked as one of the best places to buy rental property in 2021. Real estate investors looking for cash flow and equity growth over the long-term should benefit by owning rental housing in Jacksonville due to the area's strong job and population growth, and its affordability.

Sale-to-list price ratio: 96.34% Jacksonville, FL is a buyer's market in June 2024, which means that the supply of homes is greater than the demand for homes.

Jacksonville, Florida, is one of the fastest-growing cities in the southern U.S. According to the U.S. Census, the city's population has grown by nearly 130,000 in the past 10 years.

What is a livable salary in Jacksonville? The median household income in a city certainly helps gauge the cost of living. The median household income in Jacksonville is $58,263, which is 5% less than that of the state. The median income for an individual is $35,614, which is 3% more than that of the state.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

Even so, Florida tends to follow many of the same patterns as the rest of the country, with lower home prices in the late fall and winter and more housing availability in the spring and early summer.

The Sunshine State is home to nine of the 15 most overvalued markets in the United States, led by Tampa, Jacksonville, Orlando, and Miami. Currently, buyers are paying an almost 39% premium for the typical home in Miami, placing the area as the 11th most overvalued area in the entire country.

Here are Jacksonville area's most expensive neighborhoods: Ponte Vedra Beach - 32082 | $862,506 median home value. Neptune Beach - 32266 | $714,177 median home value. Nocatee/Ponte Vedra - 32081 | $707,498 median home value.

Is it worth moving to Jacksonville? ›

Q: Is Jacksonville, Florida, a good place to live? A: Jacksonville, Florida, is a great place to live if you're looking for a reasonable cost of living, plenty of beach access, a southern feel, and a new home in the Sunshine State.

Floridian cities constituted 3 of the Top 5 Real Estate Markets to Watch in 2024—namely, Sarasota, Fort Myers, and Orlando. Jacksonville, Miami, and Tampa also ranked highly in the index by Insurify.

Jacksonville Housing Market Trends

In June 2024, Jacksonville home prices were up 2.6% compared to last year, selling for a median price of $310K. On average, homes in Jacksonville sell after 53 days on the market compared to 37 days last year. There were 1,196 homes sold in June this year, down from 1,390 last year.

It's difficult to predict whether home prices in Florida will go down. Various factors come into play and the outcome remains uncertain. However, based on the current market momentum, it appears that the price growth may slow down, with potential decreases in some areas.

Florida is bucking the national trend. The Sunshine State's four most populous metro areas are seeing rent prices decline. Jacksonville's median asking rent fell 12.4% year over year in June—the metro's biggest drop in records dating back to 2019.

The most recent available data indicate (Table 1, Panel A below) that 47.4% of Jacksonville renters are cost burdened (greater than 30% of income absorbed by rent) and 23.2% are severely cost burdened (greater than 50% of income absorbed by rent).

Knowing how long homes typically stay on the market can help in setting realistic expectations and devising effective selling strategies. Currently, the average DOM in Jacksonville is approximately 60 days.