Jacksonville, Florida Market continues to decline...

By
Real Estate Agent with Fathom Realty

The fall of the Jacksonville, FL real estate market continues!

A year after the peak, the Jacksonville, Florida market continues to decline as sales and prices fall, while marketing time keeps creeping up!

 

Prices have been rising quickly since 2018, but peaked in May 2022. 

Home sale prices through April 2023 are down 4% year over year. 

 

 

 

Marketing time has more than doubled!

2021-2022 saw historically low record low marketing times. Home marketing time has tripled in 2023.

 

 

Sales and inventory are down.

Sales are down, but limited new  inventory is keeping demand going for now. 

 

 

 

Distressed listings are picking up.

After mostly disappearing for a few years, more short sale, pre-foreclosure and REO listings are coming to market. 

 

 

The market shift we've been expecting is here and picking up speed. READ MORE!

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Minna Reid is a Jacksonville Realtor and Broker Associate with Fathom Realty, serving the greater Jacksonville, Florida area and the Jacksonville Beaches. Minna's focus is foreclosure preventionshort sales, and probate sales. Since 2007, Minna has helped hundreds of home sellers and buyers move on to the next chapter of their lives and she has the expertise to get you through even your most complicated real estate transactions smoothly, from listing your property to closing the sale! 
 

Comments (2)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Minna Reid looks like your market area is starting to adjust.  We are still in a Sellers Market, so even though prices are not increasing like they did the last 3 years, they are still seeing smaller increases.

May 01, 2023 11:46 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

We are not seeing this at all on the Space Coast. We had a bump between Oct and Jan...but it has reversed back to a sellers market.

May 01, 2023 11:49 AM