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

FAQs

Are housing prices dropping in Jacksonville Florida? ›

Jacksonville, FL housing market

The median listing home price in Jacksonville, FL was $310K in July 2024, trending down -3.9% year-over-year. The median listing home price per square foot was $193. The median home sold price was $292.5K.

Current Home Prices and Trends

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.

Of the 100 biggest U.S. housing markets, Jacksonville comes in as the 25th most overvalued. The Top 5 most overvalued markets, according to research, are Atlanta, Detroit, Cape Coral, Tampa and Las Vegas, respectively.

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.

A new study shows moving to Florida is still a popular choice, but the most desirable cities in the state have shifted. 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.

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

Looking ahead, Realtor.com predicts that home prices in the Jacksonville metro area will reduce by 0.5% year-over-year in 2024, while year-over-year home sales will decline by 5.8%. This suggests that the market may continue to experience slow sales.

Buy in November for a better price

The window between late fall and early winter is the best time for buyers on a budget. Keep in mind, fewer homes are for sale in the cold winter months and around the busy holiday season, so the selection of for-sale homes will be limited.

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.

Is Jacksonville a buyer's market? ›

Jacksonville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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.

Miami ranks no. 1 in annual home price appreciation in the U.S., according to the Miami Association of Realtors, citing real estate data. Sales of condominiums worth $1 million and up, total home transactions and single-family home sales in Miami-Dade County increased year-over-year in July 2024.

The median sale price of a home in Jacksonville was $310K last month, up 1.6% since last year. The median sale price per square foot in Jacksonville is $185, down 3.4% since last year.…

The Ramsey Solutions research shows that housing prices in Florida have gone up, especially when comparing the fourth quarters of 2022 and 2023, respectively. At the end of 2022, the median sales price of a Florida home was $401,990. One year later, it was $410,000 — a 2% increase.

How much has average rent changed in Jacksonville, FL? In the past year, rent has decreased by 2.5%, which averages out to $32 less per month. Market Trends Over Time. 5% Below $700/mo.

Renters in Jacksonville have seen price hikes close to 30% since 2020 which has created dire situations for families and individuals who can't keep up with rising rents. “Housing, human shelter, something that everyone needs is now becoming an asset class investment,” said David Jaffee, UNF Professor of Sociology.

Even as Florida remains among the most overpriced housing markets in the country after the boom experienced during the COVID-19 pandemic, especially in cities like Cape Coral and Miami, a recent surge in inventory has allowed buyers to push prices down in parts of the state.