Are Jacksonville home prices expected to drop further?

Nobody can honestly promise a specific direction. Prices are down modestly year over year, not falling sharply, and the market is described as balanced to slightly seller-favoring by most current reporting — not a buyer's market in the way the term usually implies.

How many days does it actually take to buy a house in Jacksonville right now?

It depends heavily on the specific home. Current data shows a real split: well-priced homes in strong areas can go under contract in under two weeks, while others sit for three months or more. The citywide average sits somewhere in between and can be misleading on its own.

Is Jacksonville still a buyer's market or a seller's market?

Most current data puts it close to balanced, with a slight lean toward sellers overall — but this varies meaningfully by neighborhood and price point, which is why a citywide label only tells part of the story.

Should I wait for mortgage rates to drop before buying?

That's a real financial trade-off, not a simple yes or no — rates have actually trended up, not down, through this fall. A monthly-payment conversation based on your actual numbers is more useful than a guess about where rates go next.

101 FORMOSA Place, Ponte Vedra Beach, FL 32082 (MLS# 1224116)

101 FORMOSA Place, Ponte Vedra Beach, FL 32082

$800,000

Property Type: Residential Bedrooms: 4 Baths: 2 Square Footage: 2,150 Status: Closed

Current Price: $800,000 List Date: 4/27/2023 Last Modified: 2/23/2025

Overview

Description

Wonderfully maintained 4 bedroom 2 bath split floor plan that has been completely updated. White shaker kitchen cabinets, quartz countertops and wood and tile plank floors throughout. Rare lot that sits at the beginning of a cul-de-sac but has a large and private backyard that can easily accommodate a swimming pool. Exterior has just been repainted. New roof in 2017. 18 SEER Ultra efficient AC unit. .

Listing Details MLS# 1224116

General Property Information

Bedrooms Total: 4
Bathrooms Full: 2
Bathrooms Total: 2
Living Area: 2150
Living Area Source: Public Records
Year Built: 1994
Lot Size Dimensions: 75x150
Association YN: Yes
Association Fee: 418
Association Fee Frequency: Quarterly
CDD Fee YN: No
New Construction YN: No
Garage Spaces: 2
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Stories: Yes
Directions: Enter the main gate at Fairfield, turn R onto Azalea S. Home is first house on right on Formosa.
Public Remarks: Wonderfully maintained 4 bedroom 2 bath split floor plan that has been completely updated. White shaker kitchen cabinets, quartz countertops and wood and tile plank floors throughout. Rare lot that sits at the beginning of a cul-de-sac but has a large and private backyard that can easily accommodate a swimming pool. Exterior has just been repainted. New roof in 2017. 18 SEER Ultra efficient AC unit. .
List Price/SqFt: 372.09
Sold Price/SqFt: 372.09

Property Features

Approx Parcel Size: Less than .25 Acre Appliances: Disposal; Electric Range; Microwave; Refrigerator Interior Features: Primary Bathroom -Tub with Separate Shower Flooring: Tile; Wood Cooling: Central Air Heating: Central; Electric Water Source: Public Sewer: Public Sewer Security Features: Smoke Detector(s) Construction Materials: Frame; Stucco Roof: Shingle Parking Features: Additional Parking; Attached; Garage Current Use: Residential; Single Family Association Amenities: Basketball Court; Clubhouse; Community Pool; Jogging Path; Tennis Court(s) Listing Terms: Cash; Conventional

Contract Information

Property Sub Type: Single Family Residence
Property Attached YN: No
Listing Contract Date: 2023-04-26

Location Tax and Legal

Street Number: 101
Street Name: FORMOSA
Street Suffix: Place
County: St. Johns
State: FL
Postal Code: 32082
MLS Area Major: 263-Ponte Vedra Beach-W Of A1A-S Of CR-210
Subdivision Name: Azalea Point

Status Change Information

Major Change Timestamp: 2023-06-29T00:45:43Z
Major Change Type: Status Change
Purchase Contract Date: 2023-05-05
Close Date: 2023-06-20
Close Price: 800000

Fireplace Features

Fireplaces Total: Yes

More Information

DPR Eligible

DPR Eligible: No

Historical Information

Public Historical Remarks 1: Self Cleaning Oven: Y
Public Historical Remarks 2: Energy Features-Ceiling Fan(s): Y, Dining-Living/Dining Combo: Y, Club Amenities-Bike Path: Y, Structure Slab: Y
Public Historical Remarks 3: Intermediate School: Other

Listing Office: FLATFLEE.COM INC

Last Updated: February - 23 - 2025

Information deemed reliable but not guaranteed.

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Zelda Greenberg is a real estate agent affiliated with Legacy Realty Group North Florida, Inc., a licensed real estate brokerage that abides by equal housing opportunity laws. This is not intended to solicit property already listed. All material presented is intended for informational purposes only. Information is compiled from sources that are deemed reliable but subject to price changes, condition, sale, withdrawal, and errors & omissions.

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