Jacksonville is the largest city in Florida, both in terms of population and sheer size. Therefore, positive trends in the real estate industry should be viewed as a big step for the entire state of Florida. Fortunately, Jacksonville has made significant improvements since the latest recession. Having said that, experts expect both a strengthening job sector and increasing home values to continue for the foreseeable future. Jacksonville, for all it has been through in recent history, is actually doing very well for itself.
The Jacksonville housing market, while not as highly publicized as some of Florida’s more prominent markets, is making a name for itself. Despite being in a distressed state, recent trends suggest that the local market has done enough to remove itself from a period of post-recession price weakness. Currently, the average price of a home in the Jacksonville region is $186,500. Despite historically high appreciation rates over the last three years, the current median home price in Jacksonville is about $30,000 below the national average. On a more encouraging note, experts have already predicted an increase of more than 2 percent in home prices in 2015.
