With an estimated population of 911,507, Jacksonville is Florida’s most populous city. It is also the largest city by area in the contiguous United States. Jacksonville has a bustling economy, with businesses in the financial, logistics, media, technology, and military sectors.
The real estate market in Jacksonville is booming, and many long-term property investors are purchasing homes in the city. The median home listing price here sits at $225K, which is $130 per square foot. Some homes receive multiple offers, though most sell for 2.2% under the list price. On average, these homes spend 39.5 days on the market. Hot homes, though, sell faster, spending an average of 18 days on the market before selling for around the list price.
Some neighborhoods, of course, boast pricier homes than others. Jacksonville’s most expensive neighborhood is Girvin, with a median listing price of $629K. On the other hand, the city’s most affordable neighborhood, Mid-Westside, has a median listing price of $59K.
Jacksonville also has a strong rental market, for both long- and short-term rentals, as it welcomes new residents and millions of tourists each year. The prices are also moderate, especially compared to other cities in the United States. As such, most of the residents in Jacksonville own their homes.
Investing in a property in this Florida city is not as simple as you may think, though. In order to get a good return on your investment, you must do ample research and possess great negotiating skills in order to get the best possible deal. For many homebuyers, navigating the Jacksonville real estate market can pose many difficulties. This is why anyone looking to buy or sell a property in the city should turn to professional real estate services.
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