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Thursday, October 31, 2013

Jacksonville Single-Family Home Sales Spike

Sales and values of single-family homes in the five-county region are up over one year ago

According to statistics compiled by, the Jacksonville region is experiencing home sales that are up significantly over last year. The sales are significantly higher than the statewide average, which is also up for the year.

In September, sales of single-family homes in the entire state of Florida were up over 19 percent from data that was recorded just one year ago. In Jacksonville’s five-county region, sales of single-family homes are up just about 30 percent and home prices are also on the rise.

Prices and sales activity in some upscale neighborhoods are particularly up significantly. Buyers are highly motivated by historically low interest rates, says Carol Krogh, Keller-Williams Realtor. She sees the new statistics as a breath of fresh air after the stuffy sales and low asking prices she has experienced over the past few years.

The Jacksonville region’s residential real estate market peaked in 2006, with a median closed sale price of $210,000. Up until this year, the median closed sale price had dropped to $130,000 or 40 percent less. "With rising prices, comes some seller confidence and more sellers are putting their houses on the market, finally," said Krogh.

Supporting the evidence of a housing recovery are new construction figures that are up 33 percent over last year. Brett Watkins, the owner of a newly constructed house on Jacksonville Beach can attest to the newly found demand. "As soon as they try to build them, they're going and they got people waiting on them," Watkins said.

Single-family homes are not the only residences that are experiencing the upswing. In September, sale prices of condominiums and townhomes were up 43 percent over last year in the five-county region.


JWB Real Estate Capital ( focuses on one investment strategy – single-family rental properties – in one real estate market in the country – Jacksonville, Florida. We are fully committed to the long-term success of our clients and their investments.

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