A Look at the Housing Market in Jacksonville Florida

Historic Riverside Home
Creative Commons License photo credit: minds-eye

Jacksonville has been touted as one of the fastest growing cities in Florida. With it’s many parks and preserved lands, many identify this north east area of Florida as the Sun Belt. The cost to live in Jacksonville is low and it’s close proximity to other Florida destinations is a big plus. There’s a host of activities for entertainment and the warm climate is also a big draw to the area. Many sports fans are also drawn to the Jacksonville area. It’s best known for being the home of the 2005 NFL Superbowl winners the Jacksonville, Jaguars. Those looking to expand or start their businesses will find the Jacksonville government very accommodating to new businesses. This is true whether you have a domestic or international business; whether you’re a start up or looking to expand. In fact Jacksonville has been voted one of the best places in the nation to expand or start a business. So how do these attractions affect the real estate market in the city?

Currently it’s still a buyers market in Jacksonville. However one thing that differentiates Jacksonville from many similar real estate markets is that once homes are sold the numbers of available houses are going down. In other words new homes for sell are not being added to the market faster than homes are sold. This could indicate that soon there will be a sellers market and a good turn around in general. The foreclosures in Jacksonville make up a good percentage of the homes on the market however. This means buyers should definitely select a real estate agent who is well versed in foreclosures, if this is your interest.

The median home listing price at the end of June was a little over $200k, while the actual median home selling price was a bit over $100k. The first quarter of the year has seen around fifteen hundred sales with no end to sales transactions coming to closing. This is especially true in the popular areas like: Riverside, Mandarin and Springfield. Talk to an agent today to get you a list of the various homes listed in Jacksonville, FL, today.