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.

1556 UNION Street W, Jacksonville, FL 32209 (MLS# 2153587)

1556 UNION Street W, Jacksonville, FL 32209

$74,900

Property Type: Residential Bedrooms: 2 Baths: 1 Square Footage: 729 Lot Size (sq. ft.): 3,485 Status: Active

Current Price: $74,900 List Date: 7/02/2026 Last Modified: 11/02/2026

Overview

Description

Investor Opportunity in Jacksonville's Revitalizing Paxon Community!** This 2-bedroom, 1-bath investment property is currently income-producing with a long-term tenant in place, whose lease expires at the end of the year. Continue collecting rental income while planning your next move, or renovate and unlock the property's full potential. The home is in need of some TLC, making it an excellent value-add opportunity for investors or rehabbers. Surrounded by exciting redevelopment, with newly constructed homes next door and across the street, this area is experiencing continued revitalization. Whether you choose to renovate, reposition, or maintain it as a rental, this property offers flexibility and long-term upside.

Listing Details MLS# 2153587

General Property Information

Bedrooms Total: 2
Bathrooms Full: Yes
Bathrooms Total: Yes
Living Area: 729
Living Area Source: Appraiser
Year Built: 1923
Accessory Dwelling Unit Y/N: No
Homestead YN: No
Lot Size Acres: 0.08
Association YN: No
CDD Fee YN: No
Accessibility Features YN: No
New Construction YN: No
Garage YN: No
Carport YN: No
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Stories: Yes
Senior Community YN: No
Directions: From i-95 N, take exit 353B for Union/Beaver. Turn right onto Lee, then right onto Beaver. In 1 mile, turn right onto Tyler, then left onto Union West. Property will be on your left.
Public Remarks: Investor Opportunity in Jacksonville's Revitalizing Paxon Community!** This 2-bedroom, 1-bath investment property is currently income-producing with a long-term tenant in place, whose lease expires at the end of the year. Continue collecting rental income while planning your next move, or renovate and unlock the property's full potential. The home is in need of some TLC, making it an excellent value-add opportunity for investors or rehabbers. Surrounded by exciting redevelopment, with newly constructed homes next door and across the street, this area is experiencing continued revitalization. Whether you choose to renovate, reposition, or maintain it as a rental, this property offers flexibility and long-term upside.
List Price/SqFt: 102.74

Property Features

Architectural Style: Traditional Levels: One Property Condition: Fixer Rental Restrictions: No Minimum Appliances: Electric Cooktop; Refrigerator Laundry Features: Electric Dryer Hookup; Washer Hookup Utilities: Electricity Connected; Sewer Connected; Water Connected Cooling: Wall/Window Unit(s) Heating: Other Electric: 150 Amp Service Water Source: Public Sewer: Public Sewer Parking Features: Additional Parking; Off Street Current Use: Investment Road Frontage Type: City Street Road Surface Type: Asphalt Possession: Close Of Escrow Listing Terms: Cash; Conventional

Contract Information

Property Sub Type: Single Family Residence
Property Attached YN: No
Listing Contract Date: 2026-07-02

Location Tax and Legal

Street Number: 1556
Street Name: UNION
Street Suffix: Street
Street Direction Suffix: W
County: Duval
State: FL
Postal Code: 32209
MLS Area Major: 074-Paxon
Subdivision Name: Smiths Allotment

Status Change Information

Major Change Timestamp: 2026-11-02T18:06:59Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-11-02T18:06:59Z

DPR Eligible

DPR Eligible: Yes

More Information

Documents

LBP ›

Sellers Property Discolsure ›

Offer Instructions ›

Listing Office: UNITED REAL ESTATE GALLERY

Last Updated: November - 02 - 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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