Aging baby boomers, young professionals and wealthy investors are fueling a trend of condominium construction near the oceanfront in Jacksonville Beach, supporting at least 23 condos that have been built or are under way since the boom began in 2002. Condo values at the Beaches have been appreciating at least 30 percent in the last two years. Generally, luxury oceanfront condos in Jacksonville can range from about $500,000 to $2.8 million. For condominium conversions, you can find bargain for home prices in area community.
According to the National Association of REALTORS, condo values are increasing faster than single-family home values. In most areas, condominiums provide many of the benefits including: