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.

1560 LANCASTER Terrace 305, Jacksonville, FL 32204 (MLS# 1247336)

1560 LANCASTER Terrace 305, Jacksonville, FL 32204

$245,485

Property Type: Residential Bedrooms: 1 Baths: 1 Square Footage: 730 Status: Closed

Current Price: $245,485 List Date: 11/11/2023 Last Modified: 10/23/2026

Overview

Description

Fully Renovated 1/1 condo has the some of the best views in the building! updates include all new soundproof flooring, New tub, tile and bathroom fixtures, New kitchen with granite counters and quite close cabinets. Included with the unit or two designated storage spaces located on the first floor .Close to amazing Riverside restaurants and parks all within walking distance. Very hard to find a move in ready unit in Riverside at this price!

Listing Details MLS# 1247336

General Property Information

Bedrooms Total: Yes
Bathrooms Full: Yes
Bathrooms Total: Yes
Living Area: 730
Living Area Source: Public Records
Year Built: 1962
Association YN: No
Association Fee 2: 506
CDD Fee YN: No
New Construction YN: No
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: Yes
Stories: Yes
Stories Total: 15
Entry Level: 3
Directions: At Memorial Park, turn onto Lancaster and follow around the curve. Building is second white one on the left.
Public Remarks: Fully Renovated 1/1 condo has the some of the best views in the building! updates include all new soundproof flooring, New tub, tile and bathroom fixtures, New kitchen with granite counters and quite close cabinets. Included with the unit or two designated storage spaces located on the first floor .Close to amazing Riverside restaurants and parks all within walking distance. Very hard to find a move in ready unit in Riverside at this price!
List Price/SqFt: 366.44
Sold Price/SqFt: 336.28

Property Features

Approx Parcel Size: Condo-NA Architectural Style: Flat Appliances: Dishwasher; Electric Range; Microwave; Refrigerator Interior Features: Pantry Flooring: Vinyl Cooling: Central Air Heating: Central Security Features: 24 Hour Security; Fire Sprinkler System; Smoke Detector(s) Roof: Other Parking Features: Assigned; On Street Lot Features: Historic Area View: River Waterfront Features: River Front Current Use: Multi-Family; Residential Association Amenities: Community Pool; Fitness Center; Laundry; Management - Full Time; Management - On Site; Tennis Court(s) Association Fee Includes: Insurance; Maintenance Grounds; Security; Sewer; Trash; Water Road Surface Type: Asphalt Possession: Negotiable Listing Terms: Cash; Conventional

Contract Information

Property Sub Type: Condominium
Property Attached YN: Yes
Listing Contract Date: 2023-09-07

Location Tax and Legal

Street Number: 1560
Street Name: LANCASTER
Street Suffix: Terrace
County: Duval
State: FL
Postal Code: 32204
MLS Area Major: 031-Riverside
Subdivision Name: Broadview Terrace

Status Change Information

Major Change Timestamp: 2024-01-09T14:06:50Z
Major Change Type: Status Change
Price Change Timestamp: 2023-10-12T14:16:07Z
Purchase Contract Date: 2023-11-27
Close Date: 2024-01-08
Close Price: 245485

DPR Eligible

DPR Eligible: No

More Information

Historical Information

Public Historical Remarks 1: Utilities-Common Sewer: Y, Condo Restrictions-See Condo Docs: Y, Cooling Type-Common Cooling: Y, Club Amenities-Game Room: Y, Kitchen-Solid Surface Countertops: Y
Public Historical Remarks 2: Condo Restrictions-Pet Restrictions: Y, Utilities-Common Water: Y, Utilities-Common Hot Water: Y, Dining-Living/Dining Combo: Y, City Lot Location: Y
Public Historical Remarks 3: Unit Type: Flat, 3rd Story, Occupant Type: Vacant -Lockbox, See ShowingAssist, See Private Remarks, No Sign on Property

Documents

Lead Based Paint Disclosure ›

Financials Sept 2023 ›

2022 Year End ›

2023 FAQs ›

2023 Assessments ›

Listing Office: GREEN PALM REALTY & PROPERTY MANAGEMENT

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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