Property Market in Jacksonville, FL
Understanding Buying Real Estate in Florida
- Population: 827,908 (Jacksonville beach 21,000)
- Condo: $70,000- $1.9m
- Family home: $180,000 – $5.9m
- Waterfront : $460,000 – $5.9m
- Investment Potential rating: ***
- Nearest international Airport: Jacksonville International Airport, 10 miles from Jacksonville, 28 miles from Jacksonville Beach.
Jacksonville is the largest city in Florida by population, and the largest city in the U.S. by area. It’s an historic, sprawling city, and Florida’s largest seaport—featured as a key supply point in the Civil War. The city has a thriving economy with banking, insurance, healthcare, and tourism forming its key industries. Tourism, particularly surrounding golf, is an important focus and there are many excellent golf courses.
The city boasts an historic movie palace, an excellent theater, a center for the performing arts, and a zoo. The music scene is of particular note with a symphony orchestra, a large arena which attracts national acts, and a thriving jazz culture. There is a yearly jazz festival and Ray Charles played regularly in Jacksonville before he discovered fame and fortune.
Jacksonville Beach is a beach and resort community sitting on the coast just outside Jacksonville. It forms part of the Jacksonville coastal communities that include Mayport, Atlantic Beach, Neptune Beach and Ponte Vedra Beach. These communities are a convenient distance from the city, but offer excellent beach lifestyle opportunities and the facilities one would expect in small resort towns.
Jacksonville Property Market Summary
The Jacksonville real estate market is ripe for investment now, as is true of most of Florida. Inventory is down almost 30 percent on this time last year, and median home price has increased by 6.8 percent in the same time frame. There are now just four months of inventory in the market—so there is some competition—but also some good values to be achieved in terms of lifestyle.
What Can I Buy in Jacksonville?
If you are looking for a pool complex condo you can find them from around $90,000 up, with some lovely luxury condos available from $180,000 onward. Jacksonville has a healthy luxury market, with a fair bit of inventory over the $2 million mark, and some incredible value properties lying in the $750,000 to $1.5 million bracket. We found waterfront family homes starting from around $460,000 and luxury waterfront condos starting at around $325,000.
Most of the waterfront in Jacksonville itself is situated on the St John’s River body of water, with more waterfront property situated on the actual beach at Jacksonville Beach. This is a smaller community, with much less inventory. Here, condos with water views start around $180,000 and waterfront homes range from about $500,000 to $2.3 million.