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.

1324 MORVENWOOD Road, Jacksonville, FL 32207 (MLS# 2074438)

1324 MORVENWOOD Road, Jacksonville, FL 32207

$395,000

Property Type: Residential Bedrooms: 4 Baths: 2 Square Footage: 2,299 Lot Size (sq. ft.): 14,375 Status: Closed

Current Price: $395,000 List Date: 3/07/2025 Last Modified: 10/23/2026

Overview

Description

Fixer-Upper with Unlimited Potential - Perfect for Investors or Visionaries! This 4BR / 2BA home is a diamond in the rough, waiting for the right owner to bring it back to life! Situated on a spacious lot in a desirable neighborhood, this property offers a fantastic opportunity for renovation or a complete redesign. The home is a blank slate, ready for transformation, but requires significant updates throughout, including (but not limited to) flooring, plumbing, electrical, roof, HVAC and cosmetic improvements. The layout offers great potential for an open-concept design, with ample natural light and generous room sizes. The large backyard provides space for outdoor living, expansion, or landscaping. With the right vision and investment, this could be a stunning transformation!

Listing Details MLS# 2074438

General Property Information

Bedrooms Total: 4
Bathrooms Full: 2
Bathrooms Total: 2
Living Area: 2299
Living Area Source: Assessor
Year Built: 1940
Lot Size Acres: 0.33
Association YN: No
CDD Fee YN: No
Accessibility Features YN: No
New Construction YN: No
Garage YN: No
Carport YN: No
Water Body Access YN: No
Waterfront YN: No
Stories: Yes
Senior Community YN: No
Directions: From Hendricks Ave, head west on Greenridge, to first Left on Gadsden Rd. First Right on Morvenwood Rd.
Public Remarks: Fixer-Upper with Unlimited Potential - Perfect for Investors or Visionaries! This 4BR / 2BA home is a diamond in the rough, waiting for the right owner to bring it back to life! Situated on a spacious lot in a desirable neighborhood, this property offers a fantastic opportunity for renovation or a complete redesign. The home is a blank slate, ready for transformation, but requires significant updates throughout, including (but not limited to) flooring, plumbing, electrical, roof, HVAC and cosmetic improvements. The layout offers great potential for an open-concept design, with ample natural light and generous room sizes. The large backyard provides space for outdoor living, expansion, or landscaping. With the right vision and investment, this could be a stunning transformation!
List Price/SqFt: 176.16
Sold Price/SqFt: 171.81

Property Features

Appliances: None Utilities: Other Cooling: Other Heating: None Water Source: Public Parking Features: Off Street Current Use: Residential Possession: Close Of Escrow Listing Terms: Cash

Contract Information

Property Sub Type: Single Family Residence
Property Attached YN: No
Listing Contract Date: 2025-03-05

Location Tax and Legal

Street Number: 1324
Street Name: MORVENWOOD
Street Suffix: Road
County: Duval
State: FL
Postal Code: 32207
MLS Area Major: 011-San Marco
Subdivision Name: Colonial Manor

Status Change Information

Major Change Timestamp: 2025-05-07T14:43:54Z
Major Change Type: Status Change
Price Change Timestamp: 2025-03-27T15:29:52Z
Purchase Contract Date: 2025-04-01
Close Date: 2025-05-02
Close Price: 395000

DPR Eligible

DPR Eligible: No

More Information

Listing Office: SHEEPCO REAL ESTATE GROUP

Last Updated: October - 23 - 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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