2008 Home Sales Fell 20% in Jacksonville

Sales of existing single-family homes fell 20 percent in the Jacksonville area last year, one of the steeper drops in the state. Of the 20 markets tracked by the Florida Association of Realtors, only five had a bigger drop than Jacksonville. Statewide, sales were down 4 percent.

The median sales price of homes sold in the Jacksonville market fell 8 percent $180,600. The median price statewide was down 20 percent to $187,800. The median price fell in all 20 markets.

The condominium market took an even bigger hit locally. Existing condo sales were down 40 percent in Jacksonville, while the median price fell 15 percent to $147,200. Statewide condo sales fell 10 percent, and the median price of $164,400 was down 20 percent.

Source: Florida Association of Realtors