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Waiting for housing prices in Jacksonville to take a nosedive? It’s probably not going to happen.
While prices aren’t expected to skyrocket, they’re also unlikely to fall.
Let’s explore why the market is set to stay steady in 2025 and what that means for buyers and sellers.
This article gives you valuable insights, but remember, it’s not and will never be investment advice. We pull data from a range of sources to provide you with the most accurate picture possible, yet we can’t guarantee complete accuracy. Markets are difficult to predict. Make sure to do your own research and consult a professional before making any financial moves. Any risks or losses are your own responsibility.
1) Jacksonville's 0.5% home price rise to $302,000 signals a likely flat market for 2025
The modest 0.5% increase in Jacksonville home prices from last year shows the market is cooling off, with demand stabilizing.
This low growth suggests a balance between supply and demand, making sharp price increases unlikely in the near future.
At a median price of $302,000, Jacksonville’s market seems to have reached a level buyers can manage. A higher price could limit affordability and dampen demand, so a flat trend is more realistic to maintain market stability.
Looking at 2025, economic uncertainties and high interest rates could keep both buyers and sellers cautious, further stabilizing prices. With minimal pressure for prices to change, Jacksonville’s housing market is likely to remain steady.
Source: Redfin
2) Jacksonville home prices are projected to rise just 0.1% by mid-2025 according to Zillow
Another forecast! Home prices in Jacksonville are expected to stay mostly flat, with only a small 0.1% increase by mid-2025.
This prediction, from Zillow, shows that the housing market is stabilizing after years of rapid price growth.
The main reasons are more homes for sale, giving buyers more options, and higher mortgage rates, which make borrowing more expensive and slow down demand.
Together, these factors keep prices steady. In short, with more supply and less urgency to buy, Jacksonville's home prices are likely to remain stable through 2025.
Sources: Home Buying Institute, Zillow
- Why is 2025 such a good year to buy property in Jacksonville?
3) The sale-to-list price ratio is 97.9%, indicating a balanced market
In Jacksonville, homes are selling for about 2.1% less than their asking prices, resulting in a sale-to-list price ratio of 97.9%. This ratio indicates a balanced housing market, where buyers and sellers have similar negotiating power.
This balanced market suggests that home prices in Jacksonville are stable, with neither rapid increases nor decreases.
This stability will continue, leading to flat home prices through 2025.
Sources: FirstCoastMortgageFunding, Steadily, Noradare Real Estate, Real Estate
4) In mid-2024, Jacksonville's housing market experienced a notable increase (+11.2%) in available homes
According to the Federal Reserve Economic Data (FRED), the active listing count in Jacksonville was 7,541 in May 2024 and rose to 8,386 by July 2024.
This represents an increase of approximately 11.2% over this two-month period.
This rise in inventory provides buyers with more options and potentially greater negotiating power, contributing to a more balanced market.
With more homes available, buyers aren't as pressured to bid high, leading to more stable prices.
This balance between supply and demand supports predictions that home prices in Jacksonville will remain steady in 2025.
Sources: Home Buying Institute, Your Home Sold Guaranteed Realty, FRED
5) With only 0.76% external buyer interest and Florida migration slowing to 225,000–275,000 in 2024, Jacksonville's housing prices are expected to remain flat in 2025
Only 0.76% of homebuyers searched to move into Jacksonville from outside metro areas, per Redfin’s migration analysis, showing limited external interest. With fewer incoming buyers, competition for homes stays low, reducing upward pressure on prices.
Also, statewide, Florida’s migration growth is slowing. The Florida Chamber Foundation projects 225,000 to 275,000 new residents in 2024, a deceleration from previous years. This moderation impacts Jacksonville directly, with fewer new residents entering the market and easing housing supply pressures.
These factors collectively point to a balanced market, with forecasts predicting minimal price changes or flat growth in 2025.
Sources: Redfin, Florida Chamber of Commerce, U.S. Census Bureau
6) High mortgage rates (6.8%) are expected to keep housing prices flat in 2025
As of November 2024, 30-year fixed mortgage rates in Jacksonville are averaging around 6.79%.
These elevated rates have made borrowing more expensive, meaning monthly mortgage payments for homebuyers are much higher than they were a few years ago.
This increase in costs has pushed many potential buyers to delay purchasing a home or to look for smaller, less expensive properties. As a result, fewer people are competing for homes, which slows down the growth of home prices.
While some experts believe mortgage rates could decrease in 2025 if economic conditions improve, there’s no guarantee this will happen.
Factors like inflation, Federal Reserve policies, and broader economic trends will ultimately determine whether rates come down or stay high.
Source: Realtor
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So, will housing prices in Jacksonville stay flat in 2025? Yes, they will!
Jacksonville's housing market is showing signs of stability, with a modest 0.5% increase in home prices to $302,000 over the past year. This suggests that the market is cooling off and finding a balance between supply and demand.
With more homes available, as seen in the 11.2% increase in active listings, buyers have more options and less pressure to bid high. This contributes to a balanced market, where prices are unlikely to rise sharply. The sale-to-list price ratio of 97.9% further indicates a stable market.
High mortgage rates, averaging around 6.79%, make borrowing more expensive, slowing down demand. Additionally, limited external buyer interest and slowing migration into Florida mean less competition for homes. All these factors point to a steady market, with prices expected to remain flat in 2025.