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

FAQs

Are housing prices dropping in Jacksonville Florida? ›

Median Sold Price

Homes in Jacksonville have sold for 2.4% more than they did a year ago. Summary: The median home sold price in Jacksonville was $306,356 in July 2024, up 2.4% from last year, and the median price per square foot was $190.

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.

Range: 20 to 80. End of interactive chart. On average, homes in Jacksonville, FL sell after 51 days on 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.

Experts suggest Jacksonville homes may be overvalued by about 30%, potentially impacting future market dynamics. The housing market forecast predicts modest growth, with a projected 0.2% increase by April 2025.

Jacksonville ranked as the sixth most popular big city for people to move to in the U.S. for the first quarter of 2024, according to a new report from moveBuddha.com. Miami is no longer in the top 10 of large cities for people to move to.

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.

Florida home sale prices peak in late spring before dipping again in late summer and early fall. If you are looking for a deal on a house, your best bet might be to look for a home around November or December. However, it may be more challenging to find a home during these months.

Jacksonville is the best city to live in Florida. It offers an affordable cost of living and immense educational and work opportunities.

What month are the most homes sold in Florida? ›

Winter is Peak Selling Season

Depending on the type of home you are selling, Florida's prime season for selling homes is often believed to be during the winter months, specifically from December to February. Mild temperatures and the influx of snowbirds make this an ideal time to list your property.

Best Time to Sell Your House for a Higher Price

April, May, and June are the best months to sell your house in Florida. The median sale price of houses in June 2023 was $409,600, which is expected to rise in 2024. However, cities like Doral and Palm Breach Gardens follow an upward trend throughout the year.

Fort George Island. With a median home price of $389,650 and a median rent of $1,676, Fort George Island is the most expensive neighborhood on our list. Based on the growth in home prices in Fort George Island over the last 3 years, it ranks No. 1 among all the neighborhoods in Jacksonville.

Compared to other major cities in Florida, Jacksonville offers a cost of living that's 7% lower than the national average. Average housing prices are relatively low, about $100,000 lower than the national average. allowing for a variety of options from beachfront properties to suburban homes.

The nine Florida markets were all listed as overvalued by double digits. Of the biggest 100 U.S. metro housing markets considered overvalued, the Miami metro area ranked 11th at 34.7%.

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).