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.

1601 OCEAN Drive S 502, Jacksonville Beach, FL 32250 (MLS# 1110830)

1601 OCEAN Drive S 502, Jacksonville Beach, FL 32250

$670,500

Property Type: Residential Bedrooms: 2 Baths: 2 Square Footage: 1,274 Status: Closed

Current Price: $670,500 List Date: 5/21/2021 Last Modified: 2/08/2025

Overview

Description

New Sliding doors to be installed in both Bedrooms soon. Summer is almost here! This wonderful 5th floor condo with sweeping oceanfront views with balcony access from every room is awaiting you! With both family and adult-only pools- you can choose how to spend your days once the beach sand and ocean waves have worn you out! Reserved parking spot and guest parking available. Come enjoy the perks of quiet south Jax Beach!

Listing Details MLS# 1110830

General Property Information

Bedrooms Total: 2
Bathrooms Full: 2
Bathrooms Total: 2
Living Area: 1274
Living Area Source: Public Records
Year Built: 1974
Association YN: Yes
Association Fee Frequency: One Time
Association Fee 2: 679
CDD Fee YN: No
New Construction YN: No
Carport Spaces: Yes
Pool Private YN: No
Water Body Access YN: Yes
Waterfront YN: Yes
Stories Total: 10
Entry Level: 5
Directions: Take 3rd Street South to 16th Ave. S, take a right. The ''S'' shaped building will be on your left as you turn onto Ocean Drive.
Public Remarks: New Sliding doors to be installed in both Bedrooms soon. Summer is almost here! This wonderful 5th floor condo with sweeping oceanfront views with balcony access from every room is awaiting you! With both family and adult-only pools- you can choose how to spend your days once the beach sand and ocean waves have worn you out! Reserved parking spot and guest parking available. Come enjoy the perks of quiet south Jax Beach!
List Price/SqFt: 529.83
Sold Price/SqFt: 526.3

Property Features

Approx Parcel Size: Condo-NA Appliances: Dishwasher; Dryer; Electric Cooktop; Electric Range; Electric Water Heater; Ice Maker; Microwave; Washer Interior Features: Primary Bathroom - Shower No Tub; Primary Bathroom -Tub with Separate Shower; Split Bedrooms; Walk-In Closet(s) Flooring: Tile Utilities: Cable Available Cooling: Central Air Heating: Central Sewer: Public Sewer Construction Materials: Block; Concrete Parking Features: Assigned; Guest View: Ocean Water Body Access Type: Community Waterfront Features: Ocean Front Current Use: Multi-Family Association Amenities: Beach Access; Community Pool; Fitness Center; Management - Full Time Association Fee Includes: Maintenance Grounds Road Surface Type: Asphalt Possession: Negotiable Listing Terms: Cash; Conventional

Contract Information

Property Sub Type: Condominium
Property Attached YN: No
Listing Contract Date: 2021-05-19

Location Tax and Legal

Street Number: 1601
Street Name: OCEAN
Street Suffix: Drive
Street Direction Suffix: S
County: Duval
State: FL
Postal Code: 32250
MLS Area Major: 212-Jacksonville Beach-SE
Subdivision Name: Seascape

Status Change Information

Major Change Timestamp: 2023-11-17T01:19:45Z
Major Change Type: Price Reduced
Price Change Timestamp: 2021-06-02T21:23:39Z
Purchase Contract Date: 2021-06-01
Close Date: 2021-07-30
Close Price: 670500

Historical Information

Public Historical Remarks 1: Condo Restrictions-See Condo Docs: Y, Kitchen-Solid Surface Countertops: Y
Public Historical Remarks 2: Utilities-Common Water: Y, Dining-Living/Dining Combo: Y, Interior Amenities-Sliding Glass Door(s): Y, Trash Chute: Y

More Information

Listing Office: BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY

Last Updated: February - 08 - 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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