Jacksonville Real Estate Market Remains Balanced
As of September 2024, the Jacksonville real estate market remains balanced with a moderate growth trajectory. The average home value sits around $302,071, with properties generally selling within 31 days of being listed. Over the past decade, Jacksonville has seen a strong appreciation rate of 137.67%, making it a solid market for both homebuyers and investors. Recent trends, however, show a slight dip in appreciation, which is not uncommon as markets adjust and fluctuate.
Homes are Still Seeing Some Negotiation Space
While the median sale price has been recorded at $267,567, homes are still seeing some negotiation space, with 63.2% of sales going below the list price. This gives buyers leverage in certain segments of the market. Sellers, on the other hand, are advised to price their homes competitively to attract buyers in a market that favors negotiation. Both buyers and investors can benefit from Jacksonville’s growing market, though future appreciation is expected to remain steady rather than explosive.
For Real Estate Investors, Jacksonville
For real estate investors, Jacksonville continues to offer a robust rental market and consistent home appreciation, positioning the city as a viable long-term investment option. As Florida’s largest city, Jacksonville’s appeal extends beyond real estate, with its strong job market and attractive cost of living fueling demand
Jacksonville Real Estate Market Snapshot (September 2024)
| Metric | Value | Trend/Insight |
|---|---|---|
| Average Home Value | $302,071 | Consistent moderate growth; appreciation continues steadily. |
| Median Sale Price | $267,567 | Indicates some negotiation space for buyers. |
| Days on Market (Avg) | 31 days | Homes are selling relatively quickly, showing continued buyer demand. |
| Sales Under List Price | 63.2% | Most homes are selling below list price, offering opportunities for buyers. |
| Short-Term Appreciation | Slight dip | Minor fluctuations in appreciation, not a major cause for concern. |
| Long-Term Appreciation | 137.67% (over 10 years) | Jacksonville is a high-performing market, with 9.04% average annual increase. |
| Rental Market | Strong and stable | Attractive for investors seeking steady rental income. |
| Market Outlook | Stable growth | Balanced market with room for negotiation, good for strategic buying/selling. |
Jacksonville’s real estate market continues to offer a mix of opportunities for both buyers and sellers. With steady home value appreciation and a strong rental market, it’s a favorable environment for long-term investors
Ethan Harris
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