Home Sales Decline by Zip Codes in Jacksonville

Declining home sales in the Jacksonville metropolitan area intensified into the second quarter of this year.

This snapshot of Northeast Florida's residential real estate cycle from April through June comes from DataQuick Information Systems, a San Diego-based company that sells its data to the real estate industry.

A Times-Union analysis of data for the Jacksonville area's 53 ZIP codes found only five with a higher number of sales in the second quarter of this year compared to the same time last year. St. Johns and Clay counties saw fewer homes sold in all areas.

The most extreme situation in St. Johns was 32095, where sales plummeted by 66.9 percent - although median sales prices shot up 29.5 percent, to $508,900.

Although Clay's sales were bleak, it did see modest home-price increases in Middleburg and Keystone Heights. Orange Park and Green Cove Springs dropped.

Nassau County saw mostly a decline, except for Hilliard, where sales increased by 20 percent. Its median home price was the only one to increase, by 37.5 percent to $165,000.

Though Clay and Nassau have many differences, they share a common characteristic that local real estate analyst Ray Rodriguez said explains the decline: With rising gasoline prices and little public transportation, some buyers are foregoing these rural "bedroom" communities and choosing Jacksonville's consolidated city and county when purchasing a home.

Clay's job base isn't large enough to fuel a demand for the luxury homes developers are building. Nassau is in a similar economic position.

Now, Rodriguez said, the city is becoming a better choice to workers unwilling to continue spending more time and gas for jobs.

And the city seems to be keeping pace. Sales prices in Riverside's 32204 ZIP code increased 145 percent, to $312,450. Its home sales jumped 113 percent.

An emerging downtown, commercial growth along Riverside Avenue and continued redevelopment in the Five Points and Murray Hill areas have attracted a mix of young professionals, families and retirees.

As for the overall sales decline, Realtors and others in the industry say the market is correcting itself after runaway prices coupled with tightening mortgage standards.

The National Association of Realtors expects home sales across the country to rise in the latter two quarters of the year, with prices eventually following.

MEDIAN SALES PRICE AND SALES VOLUME: 2ND QUARTER 2007

DUVAL COUNTY
Zip Code Median Price % Change Homes Sold % Change
32233 $182,000 -1.60 95 -33.60
32202 $76,150 -1.10 21 5.00
32204 $312,450 145.30 64 113.30
32205 $143,000 2.10 168 -37.80
32206 $65,000 -8.50 99 -28.30
32207 $170,000 8.30 154 -15.40
32208 $88,000 0.00 202 -31.80
32209 $62,000 -12.60 140 -31.40
32210 $144,000 4.30 279 -41.30
32211 $144,000 2.50 114 -40.90
32216 $170,450 0.30 191 4.90
32217 $174,900 -10.30 85 -21.30
32218 $198,500 -3.20 280 -39.90
32219 $204,000 -9.20 44 -47.00
32220 $179,300 -14.90 44 -47.60
32221 $186,000 -8.80 113 -31.10
32222 $214,400 2.60 54 -1.80
32223 $197,500 -12.20 136 -29.50
32224 $240,000 4.10 161 -51.70
32225 $215,000 -4.40 340 -16.50
32226 $244,000 -12.40 74 -49.70
32234 $111,700 -37.10 13 -23.50
32244 $165,000 -4.60 287 -40.70
32246 $192,450 5.80 241 -37.10
32254 $69,000 -4.20 103 -22.60
32256 $178,500 -5.50 265 -14.20
32257 $190,000 -5.00 165 -24.00
32258 $217,450 -20.90 273 4.20
32277 $178,600 21.40 106 -56.90
32250 $395,000 5.30 134 -17.30
32266 $363,200 11.30 23 -28.10
Average $177,000 -1.70 5056 -34.70

CLAY COUNTY
Zip Code Median Price % Change Homes Sold % Change
32043 $219,000 -2.20 132 -40.80
32656 $162,950 7.90 22 -40.50
32068 $197,500 6.80 220 -39.40
32003 $297,600 -2.70 193 -23.70
32065 $198,500 -19.00 172 -57.90
32073 $185,500 -0.70 158 -43.00
Average $177,000 -5.60 5056 -34.70

ST. JOHNS COUNTY
Zip Code Median Price % Change Homes Sold % Change
32033 $255,000 -7.90 27 -3.60
32145 $130,000 120.70 7 -36.40
32259 $350,000 11.10 183 -33.50
32082 $421,500 -1.00 197 -31.80
32080 $372,750 2.10 151 -15.20
32084 $186,500 -5.80 151 -31.10
32086 $222,000 -9.90 121 -35.30
32092 $299,900 -3.30 242 -31.80
32095 $589,000 29.50 40 -66.90
Average $287,000 -7.70 1319 -34.10

BAKER COUNTY
Zip Code Median Price % Change Homes Sold % Change
32040 $199,000 -4.80 9 -10.00
32063 $198,000 26.50 49 -7.50
Average $194,450 23.10 66 -8.30

Source: Florida-Times Union