Jacksonville is seeing one of the biggest drops in home prices in the country, ranking third among major metro areas for the biggest year-over-year decrease.
The median home-sale price fell by 3.1% in Jacksonville last week, according to a new report from Redfin.
In fact, according to the report, the median home-sale price fell in 14 of the 50 most populous U.S. metro areas.
Looking for an affordable house for sale in Jacksonville, Florida? In this video, I’m walking through a Jacksonville home listed at $303,000 — which is below the area median price of $321,000. If you’re wondering […]
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Haha….. NOTHING in Jacksonville should be 799k….. 😂😂😂
The end price isn’t dropping if insurance and property taxes are still going up.
The truth of the matter is that the agent gets paid an average of 5% on the transaction, to be split with the agent that brings the buyer, in this case there was $35,000 to be split.
Once you put a realtor in position there is no one in the transaction to see you the seller lower your price.
Even with the law changes on commisions this is still a closed market and the agents that pay to play control it.
The reason that you see precipitous price drops is that realtors brought the market to its frothy highs, no different than the stock market except that you are using leverage to amplify the pain as well as your profits. I live in the Jax market and the original listing price was way out of line…..way out, it took market forces for the market to sort it out.
I would love to see what comps she used to arrive at that price and would bet that the original listing price had no support.
Ive followed the housing market since 2020. No matter what direction it goes the media will spin it as end of the world fear porn. Housing market corrections and price declines are signs of a healthy and fair market, and is the reason why the median home price isnt $885k with a median wage of 45k like California.
Boynton Beach 2100 S/F beauty went on market 5/1/25 at $385 K now at $279K with just 4% save rate on Zillow. This market is so dead it’s starting to stink. Make offers at 30% below asking as a start but beware of much higher future cost for taxes and insurance (if you can get any).