Jacksonville FL Real Estate Market Update May 2025

I’m reading more and more saying that Jacksonville is in a buyer’s market. I really think it depends on what range of numbers you are using to determine seller, balanced and buyer’s markets. If you scroll down under the chart, you will see how many months determine what market we’re in. I’ll save you time, so you don’t have to scroll. Seller’s: 5 or less. Balanced: 5-7 months. Buyer’s: 7 or more months.

There are variations of this, so it’s not an exact science. Also, I use single family homes, not condos. Condos will always take longer to sell and they are just a different product than single family homes. I also use just Jacksonville as the city for this report. Duval County also contains some of the Beaches and Baldwin. I don’t include them, because the prices at the beaches are going to be alot more than Jacksonville itself. Based on the month’s inventory we are still in a seller’s market, but the price has been down this year, compared to 2024.

I know you’re wondering what my point is. 🙂 One, never rely on the media to get an honest and accurate view of what’s going on with real estate. Real estate is local. Data is collected in various ways. Trust local experts. Houses are not flying off the shelf anymore, so anything less than that seems like a bad market. It’s not. We are not crashing, but the prices are correcting.

Mortgage interest rates have buyers still dreaming of lower ones, but remember, lower rates will also bring about price increases as the demand increases. Covid rates are how we got to the crazy increase of prices. Check out Mortgage Daily News to see the latest. That page will always reflect the current rates, no matter when this blog post was written.

Median Sales Price: Looking at sold homes it means that half the homes that sold were more than 320,000 and the other half were less than 320,000.

Month’s Inventory: Based on the number of actives and homes that have sold it would take 3.89 months to sell the active homes, if no other homes came on the market. How to determine what type of market we are experiencing:

Buyers’ Market: More than 7 months of Inventory

Balanced Market: From 5-7 months of Inventory

Sellers’ Market: Less than 5 months of inventory

Average Days on the Market: This is the average based on the time the house came on the market until is went under contract.

Original List Price to Sales Price: This is the percentage of what the home sold for compared to what it was originally listed for. Not what it was listed for at the time it went under contract.