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.

11047 COLONIAL TAVERN Way, Jacksonville, FL 32221 (MLS# 1198301)

11047 COLONIAL TAVERN Way, Jacksonville, FL 32221

$359,990

Property Type: Residential Bedrooms: 5 Baths: 3 Square Footage: 2,565 Status: Closed

Current Price: $359,990 List Date: 10/28/2022 Last Modified: 10/27/2026

Overview

Description

Move-in ready 5-bedroom 3 bath home is turnkey and ready to enjoy. As you enter this beautiful home, you're greeted with an open floor plan which boast a large living room and kitchen space that allows plenty of room for entertaining. The split floor plan separates the owner-suite and 3 bedrooms on the opposite side of the house. The bonus 5th bedroom is on the second level with it's own full bath. Enjoy those sunny days in your beautiful backyard. This home has an easy commute to NAS JAX and Cecil Field. Relax and enjoy the community pool, bark park, and 2 playgrounds. Call now to schedule your personal showing!

Listing Details MLS# 1198301

General Property Information

Bedrooms Total: 5
Bathrooms Full: 3
Bathrooms Total: 3
Living Area: 2565
Living Area Source: Public Records
Year Built: 2019
Association YN: Yes
Association Fee: 496
Association Fee Frequency: Annually
CDD Fee YN: No
New Construction YN: No
Garage Spaces: 2
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Stories: 2
Directions: Follow I-295 N and I-10 W. Take exit 351 from I-10 W. Continue on Chaffee Rd S to your destination.
Public Remarks: Move-in ready 5-bedroom 3 bath home is turnkey and ready to enjoy. As you enter this beautiful home, you're greeted with an open floor plan which boast a large living room and kitchen space that allows plenty of room for entertaining. The split floor plan separates the owner-suite and 3 bedrooms on the opposite side of the house. The bonus 5th bedroom is on the second level with it's own full bath. Enjoy those sunny days in your beautiful backyard. This home has an easy commute to NAS JAX and Cecil Field. Relax and enjoy the community pool, bark park, and 2 playgrounds. Call now to schedule your personal showing!
List Price/SqFt: 140.35
Sold Price/SqFt: 140.35

Property Features

Approx Parcel Size: Less than .25 Acre Architectural Style: Traditional Appliances: Electric Range; Electric Water Heater; Microwave; Refrigerator Interior Features: Eat-in Kitchen; Kitchen Island; Pantry; Primary Downstairs; Split Bedrooms; Walk-In Closet(s) Cooling: Central Air Heating: Central Water Source: Public Sewer: Public Sewer Construction Materials: Frame Roof: Shingle Current Use: Livestock; Residential Association Amenities: Community Pool Possession: Negotiable Listing Terms: Cash; Conventional; FHA; VA Loan

Contract Information

Property Sub Type: Single Family Residence
Property Attached YN: No
Listing Contract Date: 2022-10-28

Location Tax and Legal

Street Number: 11047
Street Name: COLONIAL TAVERN
Street Suffix: Way
County: Duval
State: FL
Postal Code: 32221
MLS Area Major: 066-Cecil Commerce Area
Subdivision Name: Liberty Square

Status Change Information

Major Change Timestamp: 2023-11-17T16:31:20Z
Major Change Type: Price Reduced
Price Change Timestamp: 2022-11-14T18:09:42Z
Purchase Contract Date: 2022-11-16
Close Date: 2022-12-19
Close Price: 359990

DPR Eligible

DPR Eligible: No

More Information

Room Information

Room Name
Office
Utility Room

Documents

HOA Disclosure ›

Seller's Property Disclosure ›

KHE Realty Disclosure ›

Listing Office: KHE REALTY

Last Updated: October - 27 - 2026

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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