Jacksonville Real Estate Continues to Fall

Homes sales and median home prices continued to drop in November in the Jacksonville area.

Existing single family home sales dropped 12 percent from 619 sales in November 2007 to 545 sales in November 2008 while the median price dropped 16 percent from $178,200 to $150,000, according to the Florida Association of Realtors. Data from the Amelia Island-Nassau County Association of Realtors and the St. Augustine & St. Johns County Board of Realtors was not available.

Meanwhile, statewide existing home sales inched up for the third month in a row another 4 percent from 8,269 last November to 8,571 last month and median prices dropped 27 percent from $217,000 to $158,300 during the sale time period.

Jacksonville area condominium sales also declined 23 percent from 78 to 60 year-over-year and prices dropped 3 percent from $135,800 to $131,400 during the same period. Condo data from Amelia Island-Nassau County Association of Realtors was not available.

Comparitively, statewide condo sales dropped 8 percent from 2,474 to 2,278 year-over-year and prices dropped 30 percent from $185,600 to $130,600 during the same period.

Source: Jacksonville Business Journal