GoBankingRates includes Jacksonville in most affordable home prices list on August 5th.
Mortgage Rates Have been Declining:
The past few weeks have been an exciting time in the real estate space – especially for those waiting for mortgage rates to drop. This is a win as data shows that housing prices have hit record highs this year. The National Association of Realtors reports May to be the record high of $419,300 for existing home sales. On a percentage basis, this is up 5.8% over the prior year.
Inventory is Up:
In Florida, Redfin reported 198,465 homes for sale in June 2024, up 40.1% year over year. An increase in inventory coupled with lower rates is a win for those planning on buying or thinking about buying.
Cities Included in Most Affordable Home Prices List:
Jacksonville was included on the list with a median listing home price of $319,900 and a price per square foot of $194. Detroit, Michigan was included among the 20 locations and offered the lowest price/square foot at $82. This contrasts with St. Paul, MN, which of the 20 locations, had the highest price/square foot at $212. On the median home listing front – Detroit also had the lowest Median listing home price of $93,300. Fort Worth tops this list of affordable locations with a Median listing home price of $360,000. Other cities include Baltimore, Buffalo, Cleveland, Des Moines, Indianapolis, Kansas City, Louisville, Memphis, Montgomery, Milwaukee, Oklahoma City, Omaha, Rochester, St. Louis, Toledo and Wichita.
GoBankingRates Includes Jacksonville In Most Affordable Home Prices List
While accolades are a great way to find a city – the best way to learn about Jacksonville is to visit. Come see what makes Jacksonville an amazing place to call home. From the weather, to the local arts and culture scene, to sports teams/sporting events and concerts – there is truly something for everyone. The 22 miles of Atlantic Coastline and pristine beaches surprise many who have never considered nor visited Jacksonville. If you are thinking about a move to Florida or learning more about all Jacksonville has to offer – please reach out. It would be my pleasure to welcome you to the area and answer your questions.