Jacksonville, Florida Real Estate Market Update 2024
Half the year is over! With the market peak well behind us now, the Jacksonville real estate market continues on it its slow roll downwards!
Jacksonville home sale prices are heading down!
While the year started off on a strong note, June sale prices have now dropped below the sale prices seen at the peak of the market in 2022.
Homes are sitting on market longer!
While marketing time in 2024 was slightly better than the prior year, days on market are approaching pre-pandemic levels.
Inventory is at a 6 year high!
Inventory has grown significantly in the last two years, but June 2024 home inventory is at a 6 year high!
What's up ahead?
What goes up must come down! The Jacksonville Florida market peak is now well behind us. Home affordability and mortgage lending is at an all time low. As home inventory continues to increase and foreclosures and short sales return to market, we can expect the downward movement in home sales to continue or pick up speed.
Uncertain about what market conditions mean for your Jacksonville home sale? We can help!
Last Updated on July 1, 2024 by Minna Reid