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.

275 MAHOGANY BAY Drive, St. Johns, FL 32259 (MLS# 701148)

275 MAHOGANY BAY Drive, St. Johns, FL 32259

$255,000

KitchenAid Gas Burner with Electric Oven

Entry French Door to Bonus/Flex Craft Rm

Private Back Yard with view of preserves

Property Type: Residential Bedrooms: 3 Baths: 3 Square Footage: 2,298 Status: Closed

Current Price: $255,000 List Date: 1/24/2014 Last Modified: 1/12/2026

Overview

Description

Welcome to your Beautiful, Spacious and Open Floor plan home, located on a HUGE lot in a private cul-de-sac. Brand new wood looking ceramic tile floor on 2/3 of the house. Large family room and formal dining room; great for entertaining and raising a family. Lovely kitchen with 42'' cabinet and stunning backsplash. Stainless Steel KitchenAid electric/convection oven gas cooktop. Flex/Bonus room can be used for 4th bedroom. Separate Guest/Mother-in-law suite w/ bathroom. Extended private pavered patio over-looking the woods/preservation area. Green house and Compost bin convey. Please note the Family/Living Room Drapery DO NOT convey. Must see to appreciate.

Listing Details MLS# 701148

General Property Information

Bedrooms Total: 3
Bathrooms Full: 3
Bathrooms Total: 3
Living Area: 2298
Living Area Source: Plans
Year Built: 2007
Lot Size Dimensions: 13,950 sq. ft.
Association YN: Yes
Association Fee: 54
Association Fee Frequency: Annually
Association Phone: 904-592-4090
CDD Fee YN: Yes
CDD Fee Amount: 2136
New Construction YN: No
Garage Spaces: 3
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Stories: Yes
Directions: South on SR13 LEFT on Racetrack Rd., RIGHT on Veterans Pkwy, RIGHT on Longleaf Pine, RIGHT on Mahogany Bay. House is at the end of the street (cul-de-sac) .5 miles.
Public Remarks: Welcome to your Beautiful, Spacious and Open Floor plan home, located on a HUGE lot in a private cul-de-sac. Brand new wood looking ceramic tile floor on 2/3 of the house. Large family room and formal dining room; great for entertaining and raising a family. Lovely kitchen with 42'' cabinet and stunning backsplash. Stainless Steel KitchenAid electric/convection oven gas cooktop. Flex/Bonus room can be used for 4th bedroom. Separate Guest/Mother-in-law suite w/ bathroom. Extended private pavered patio over-looking the woods/preservation area. Green house and Compost bin convey. Please note the Family/Living Room Drapery DO NOT convey. Must see to appreciate.
List Price/SqFt: 112.71
Sold Price/SqFt: 110.97

Property Features

Approx Parcel Size: Less than .25 Acre Architectural Style: Traditional Accessibility Features: Accessible Common Area Appliances: Dishwasher; Disposal; Electric Range; Electric Water Heater; Gas Range; Microwave Interior Features: Breakfast Bar; Breakfast Nook; Entrance Foyer; Pantry; Primary Bathroom -Tub with Separate Shower; Split Bedrooms; Walk-In Closet(s) Flooring: Carpet; Tile Laundry Features: Electric Dryer Hookup; Washer Hookup Utilities: Cable Available; Cable Connected; Other Cooling: Central Air; Electric Heating: Central; Electric; Heat Pump Water Source: Public Sewer: Public Sewer Green Energy Efficient: Windows Security Features: Security System Owned; Smoke Detector(s) Construction Materials: Fiber Cement; Frame; Stucco Other Structures: Greenhouse Patio And Porch Features: Covered; Front Porch; Patio Pool Features: None Roof: Shingle Parking Features: Attached; Garage; Garage Door Opener Lot Features: Cul-De-Sac; Irregular Lot; Sprinklers In Front; Sprinklers In Rear Current Use: Residential; Single Family Association Amenities: Clubhouse; Community Pool; Fitness Center; Playground Road Surface Type: Asphalt Possession: Negotiable Listing Terms: Cash; Conventional; FHA; VA Loan

Contract Information

Property Sub Type: Single Family Residence
Property Attached YN: No
Listing Contract Date: 2014-01-24

Location Tax and Legal

Street Number: 275
Street Name: MAHOGANY BAY
Street Suffix: Drive
County: St. Johns
State: FL
Postal Code: 32259
MLS Area Major: 301-Julington Creek/Switzerland
Subdivision Name: Castlegate

Status Change Information

Major Change Timestamp: 2014-04-04T15:53:09Z
Major Change Type: Status Change
Purchase Contract Date: 2014-03-08
Close Date: 2014-04-01
Close Price: 255000

Historical Information

Public Historical Remarks 1: Mandatory Fees: Y, Utilities-Separate Irrigation Meter: Y, Self Cleaning Oven: Y, Structure Builder: DR HORTON
Public Historical Remarks 2: Common Club Amenities-Club Facilities: Y, Covenants/Restrictions: Y, Energy Features-Exhaust Fans: Y, Energy Features-Ceiling Fan(s): Y, Dining-Living/Dining Combo: Y, Bath-Garden Bath: Y, Interior Amenities-Ceiling 8+ Ft.: Y, Interior Amenities-French Door(s): Y, Satellite System - Owned: Y
Public Historical Remarks 3: Occupant Type: Special Instructions, Call Listing Agent, Occupied - Lockbox, Occupied

More Information

Room Information

Room Name	Level	Length	Width	Remarks
Utility Room
Other	First	15.00	10.50	Breakfast Room
Family Room	First	20.30	19.00
Dining Room	First	19.60	12.00
Kitchen	First	16.00	15.00
Other		11.50	18.50	COVERED PAVERED PATIO; Flooring: P
Other		29.00		PAVERED PATIO; Area: HALF MOON; Flooring: P
Primary Bedroom	First	16.60	15.00
Bedroom 1	First	13.00	12.90
Bedroom 2	First	13.50	12.00
Bonus Room	First	13.00	12.90

Listing Office: FLORIDA HOMES REALTY & MTG LLC

Last Updated: January - 12 - 2026

Information deemed reliable but not guaranteed.