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Home Prices Are Dropping in Jacksonville Florida

By
Real Estate Agent with Florida Homes Realty & Mortgage

Home prices in Jacksonville Florida have finally dropped. Everyone who has been waiting on this moment before buying a home can now go out and look for homes for sale. Yes. You heard it right. The median price of a single family home dropped in July a whopping 1.2% to $330,000. In June the median price was $334,000. 

See all Homes For Sale In Jacksonville

However, at the same time prices went down, mortgage interest rates increased to just over 7% and hit a 20 year high. So, if you waited... buying a house at $330,000 now will cost you much more than had you bought at $334,000.

So now many buyers will say they will wait for interset rates to come down before jumping into the housing market. Still.... flawed thinking. If mortgage rates dip, even in the slightest you can bet your bottom patootie prices will rise again. It's impossible to time the market. If you would like to buy a home for yourself instead of buying one for someone else (your landlord) buy the darn house,

Mike and Cindy Jones, Jacksonville Realtors
904 874-0422
MikeAndCindyJones.com


 

 

Roy Kelley
Retired - Gaithersburg, MD

This is good information to share with prospective home buyers.

Have an outstanding week.

Aug 22, 2023 10:36 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mike and Cindy and thanks for the great information in your blog to share with us here in the Rain.  Make it a great day!

Aug 22, 2023 12:12 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Sep 18, 2023 06:54 AM