Jacksonville, Florida Real Estate Market September 2024
It took longer than expected but the Jacksonville Florida market is taking a sharper turn down!
Listing inventory is up, while sold inventory is down!
After dropping to record lows in spring of 2022, active inventory has been headed up and even faster in 2024! Inventory is back up to pre-pandemic levels, and closed sales are at a 5 year low.
Home sale prices have fallen well below those of the of the peak of the market and are continuing to decline.
Jacksonville home sales prices flattened out after the peak and are slowly coming down even more.
Preforeclosure, Bank-owned and short sale inventory is up sharply in 2024.
After being shut down for the better part of 4 years with Covid foreclosure moratoriums and various Covid era workout options, foreclosures are back and rising fast, especially in Jacksonville, FL!
What goes up, must come down! All signs point to further declines in sales and prices of Jacksonville homes, as well as the long awaited return of distress inventory. This is good news for buyers who have been waiting for their turn for years, and not such great news for Jacksonville home sellers looking for the best time to cash in. That time has now passed.
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Last Updated on September 3, 2024 by Minna Reid