Jacksonville, FL: Real Estate Market Trends 2023

Jacksonville, along with neighboring cities Orange Park, Fleming Island, Bryceville, Middleburg, and St. Johns, in Florida, have shown dynamic real estate market trends through 2023. Both home values and sale prices fluctuated month-over-month amidst a backdrop of broader economic conditions, demand and supply trends.

Data analysis of specific monthly trends brings to light some fascinating insights. Our report incorporates key metrics such as average property values, sold prices per square foot, and property counts. These dewpoints help understanding the everchanging landscape of the real estate market in Sunshine State.

Property Market Trends in Jacksonville, FL

Jacksonville, being the largest city by area in the contiguous U.S., and the hub of Duval County, paints a vivid real estate picture. Home values have increased over time, peaking around $311,782 in July last year. Though we notice a slight dip by December 2023 to $295,201, the overall movement leans towards growth.

Parallelly, the average sold price per square foot saw a similar upward stride, reaching $190 in September 2023, before marginally declining to $182 by December 2023.

The property count, however, fluctuates intermittently, spiking to 1,869 properties in August 2023, and then dropping to 213 properties by May 2023. Notably, the property sold count was the highest in December 2022 with 12,063 properties sold, although dipped to 10,882 properties by January 2023.

Nearby Cities Real Estate Trends

Between September and December last year average property values dropped from $349,000 to $327,000 in Orange Park while sold prices per square foot maintained stability, hovering around $179.

• Fleming Island’s real estate market saw a decline in average property values, as they slumped from $484,900 in September 2023 to $450,000 in December 2023. Yet, the average sold price per square foot remained relatively steady in the same timeframe.
• In Bryceville, while there was a dearth of average property value data, the average sold price per square foot surged from $187 in September 2023 to $221.5 by December 2023.
• Swiveling to Middleburg, there was a slight upswing in average property values from September 2023 to December 2023; climbed from $374,900 to $340,000. Accompanying this, the average sold price per square foot also experienced a little hike.
• Finally, St. Johns, showcasing a roller-coaster trend – average property values rose to a high of $594,888 in July 2023, only to descend to $570,000 by December 2023. Another attribute, the average sold price per square foot, saw a decrease during this span, down from $234 in September 2023 to $228 by December 2023.

In conclusion, the fluctuating real estate market trends in Jacksonville, Florida, and the surrounding areas through data-centric lenses, uncovers insights often overshadowed by broader market sentiment. Key metrics elucidating fluctuating property values, variable sold price per square foot among others, weave a tale of an evolving, dynamic real estate marketplace in this region.