Jacksonville Housing Market Forecast for 2025: A ‘Flat’ But Favorable Year for Buyers

Like most other cities across the state of Florida, the Jacksonville real estate market has downshifted over the past couple of years.

Inventory levels have risen, homes are sitting on the market for longer stretches, and buyers have more bargaining power. In short, the Jacksonville housing market has begun to favor buyers more so than sellers—a stark departure from previous years.

5 predictions for the Jacksonville real estate market into 2025:

• Home prices will remain mostly flat over the coming months.
• The market will favor buyers over sellers, mainly due to supply growth.
• Home buyers will likely have more properties to choose from in 2025.
• Buyers will have more bargaining power than in years past.
• Mortgage rates will decline through the end of this year and into 2025.

Note: This forecast describes the most likely scenario for the Jacksonville metro area real estate market over the next 12 months. But it’s still the equivalent of an educated guess.

A Buyer-Friendly Housing Market in Jacksonville

With growing inventory and flat-lining house prices, Jacksonville home buyers are feeling less urgency these days. This provides a welcome departure from the home-buying frenzy we saw just a couple of years ago.

As of late summer 2024, the Jacksonville metro area had more housing market inventory than most other metros across the U.S.

In fact, Jacksonville currently has one of the highest levels of supply (homes for sale) among the nation’s 50 largest metropolitan areas.

The Jacksonville-area real estate market also has a higher percentage of price cuts compared to most other U.S. cities. This shows that sellers are willing to reduce their asking prices in order to attract buyers and seal the deal.

In short: home buyers in Jacksonville are currently enjoying favorable conditions when it comes to inventory and negotiating ability. And even though local home prices have risen sharply over the past four years, they’re still below the national average.

Now let’s take a closer look at some of these trends and predictions.

Major Inventory Growth in Jacksonville Area

Housing market inventory in the Jacksonville area of Florida has surged over the past year or so. Home buyers should know that they have many more options today, and therefore a greater chance of success.

In early September 2024, Realtor.com published a housing market update with data for the nation’s 50 largest metros. This report showed how inventory levels have changed over the past year, in each of those 50 metropolitan areas.

According to that report, the Jacksonville real estate market experienced the sixth-largest increase in active listings over the past year. In this context, an “active listing” is a home that’s currently listed for sale on the Realtor.com website.

The table below shows the top 10 metros for inventory growth, including several in Florida. 

Ranking	Metro	Change in Active Listings
1	Tampa-St. Petersburg-Clearwater, FL	+90.1 %
2	San Diego-Chula Vista-Carlsbad, CA	+80.4 %
3	Orlando-Kissimmee-Sanford, FL	+76.9 %
4	Miami-Fort Lauderdale-Pompano Beach, FL	+72.2 %
5	Seattle-Tacoma-Bellevue, WA	+69.3 %
6	Jacksonville, FL	+68.3 %
7	Denver-Aurora-Lakewood, CO	+66.8 %
8	Charlotte-Concord-Gastonia, NC-SC	+62.4 %
9	Atlanta-Sandy Springs-Alpharetta, GA	+58.0 %
10	Dallas-Fort Worth-Arlington, TX	+50.6 %

We expect this growth trend to continue for the foreseeable future, possibly stretching into 2025 as well. But even if supply levels stay where they are right now, Jacksonville home buyers should have plenty of properties to choose from.

Consider the following inventory numbers:

• In September 2024, Realtor.com showed about 6,700 homes for sale in the city of Jacksonville, Florida. That included detached homes, condos, and townhomes.
• When we expanded the search radius to 10 miles, to include more of the surrounding metro area, the listing count increased to more than 12,000 properties.

Higher inventory levels, combined with the overall slower pace of the Jacksonville real estate market, bode well for home buyers in 2025.

Prediction: The Jacksonville housing market will have plenty of supply available in 2025, increasing the chance for home-buying success.

Home Price and Real Estate Forecast for 2025

Recent home-price forecasts for the Jacksonville-area real estate scene predict very little growth over the next year. In fact, home prices are expected to either rise slightly or remain flat through the summer of 2025.

As of early fall 2024, the median home price for the Jacksonville metro was approaching $300,000. That was about $60,000 less than the national median price. So Jacksonville remains an affordable housing market by national standards.

Even so, steady price growth over the past few years has priced some buyers out of the market. The median home value rose from around $195,000 at the start of the COVID pandemic to an all-time high of $305,000 about three years later.

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But we shouldn’t expect that kind of rapid price growth going forward.

Zillow’s latest price forecast for the Jacksonville real estate market predicted a “gain” of 0.1% between now and the summer of 2025. That’s essentially a flat line.

This represents good news for home buyers who plan to enter the Jacksonville housing market later this year or in the first half of 2025.

With prices expected to flatten out for now, buyers won’t feel the same urgency they felt a few years ago. They won’t have to rush into the market to get ahead of fast-rising prices. In 2025, the Jacksonville real estate market will offer more “leisurely” conditions for buyers.

It’s Taking Longer to Sell a Home These Days

Here’s some more good news for Jacksonville-area home buyers. The overall pace of the local housing market has slowed down over the past year. It takes longer to sell a home today than it did a year ago.

This makes sellers more inclined to negotiate over the sale price and other terms.

According to a September report from Realtor.com, homes for sale in Jacksonville spent a median of 61 days on the market before going under contract. That was 12 days longer than a year earlier, and one of the highest numbers among the nation’s 50 largest metros.

Translation: The Jacksonville housing market is moving slowly these days.

And sellers know this. So they tend to be more flexible when it comes to negotiating the sale price, making concessions, and allowing contingencies.

These are positive trends for home buyers. Aside from having higher prices than in previous years, the Jacksonville real estate market offers nearly ideal conditions for buyers.

Revisiting Those Key Predictions From Earlier

We end where we began, with a summary of predictions for the Jacksonville real estate market in 2025. Only this time they’ll make more sense, in light of the information above.

• A flat line: Home prices across the Jacksonville metro area are expected to remain mostly flat over the next year or so, a big change from two years ago.
• Buyer-friendly: With more inventory, a slower pace, and motivated sellers, this housing market will continue to favor buyers over sellers.
• A bigger menu: In 2025, home buyers will probably have more properties to choose from due to the growth trend we’ve seen over the past year.
• Negotiating leverage: Home buyers in Jacksonville have more leeway when it comes to requesting seller concessions or including contingencies.

Disclaimer: This report contains third-party predictions for the Jacksonville-area housing market through the rest of this year and into 2025. Such views are the equivalent of an educated guess and therefore far from certain. The Home Buying Institute makes no claims or guarantees about future real estate trends, prices, or conditions.