Jacksonville, Florida New Construction Home Sales Prices Take a Tumble!
New construction prices have been plummeting since the peak of the market in Jacksonville, Florida. The peak of the market is generally regarded as the time period around late 2022 to early 2023. That was the height of pricing on all homes, including new construction. Unfortunately, not only was that the peak of the market but buyers of new construction pay a premium for the privilege of having a brand new home.
New construction sales prices are down ~ 10% in just the past three years!
New construction prices have been plummeting since the peak of the market in Jacksonville, Florida. The peak of the market is generally regarded as the time period around late 2022 to early 2023. That was the height of pricing on all homes, including new construction. Unfortunately, not only was that the peak of the market, but buyers of new construction pay a premium for the privilege of having a brand new home.
While the size of the average new construction home has remained mostly unchanged, prices certainly have. Median new home sales prices have dropped 12%, and square foot adjustments at 9%. Home selling time has also more than doubled over the last three years from 28 days to 59 days:
Year Built | Home Size | Sales Price | Price per Square Foot | Days on Market |
|---|---|---|---|---|
Peak (mid 2022 - mid 2023) | 4 BR/2 BA 1,940 Sq Ft | $384,302 | $203 | 28 |
Now (mid 2025 - mid 2026) | 4 BR/2.5BA 1,880 Sq ft | $339,990 | $185 | 59 |
A market shift is well underway!
This is certainly great news for buyers, especially buyers seeking to own brand new homes. Unfortunately this provides a dismal outlook for new construction home buyers that did buy during the market peak. Peak market new home buyers are now looking at identical brand new homes going up for much less than they paid, and if they are looking to sell, they are now in competition with these homes but without being able to command a premium price for their now "used" home.
Should buyers of peak year new construction need to sell now, and they used a low down payment loan product (such as VA or FHA), many are now finding themselves owing more than their homes could sell for.
How can you sell when you owe more than your home could sell for?
There are two ways to sell in this situation. You can certainly come up with the funds to make up the difference and simply pay it to clear the debt. If you lack the funds to make up the difference, a short sale may be a solution.
A short sale allows you to sell the home for less than you owe on the mortgage balance, with the lender's approval. Most short sales allow for full debt forgiveness of this extra debt.
Here at Reid Real Estate Group we have been specializing in short sales since 2007. The bulk of our recent new short sales are in fact homeowners who bought new construction during the peak years, and are now looking to sell their homes. We've helped hundreds of homeowners sell for less than their loan balance and we can help you!
Will you qualify for a short sale? Find out now!
I can not say enough good things about Minna and her team, After a few other Real estate agents were not able to have my house sold due to a short sale, Minna and her team did not stop working until it was, every time I felt to give up Minna always encouraged me not to and always told me that she could get it done and she delivered a better service that I could ever expect. If you are in need of a great Real Estate Professional give Minna and her team a call!
R.R.
Last Updated on May 26, 2026 by Minna Reid
