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.

487 WALNUT Drive, St. Johns, FL 32259 (MLS# 1126358)

487 WALNUT Drive, St. Johns, FL 32259

$2,000

Property Type: Residential Lease Bedrooms: 3 Baths: 3 Square Footage: 1,744 Status: Closed

Current Price: $2,000 List Date: 8/17/2021 Last Modified: 2/27/2026

Overview

Description

This amazing 3 Bedroom/ 2 ½ bath, with a 2 car garage offers an great open floor plan that gives this home a warm welcoming feel, with granite counter tops, Stainless Steel appliances. Owners Suite has 2 walk-in closets & bedroom #2 also offers a walk-in closet. Enjoy entertaining on the screened lanai with serene lakefront water view has a large backyard play area. The community offers a large pool with covered seating area and children's wading pool. The community also offers two play areas and tennis courts. Hurry, this town home will not last!!!!!

Listing Details MLS# 1126358

General Property Information

Bedrooms Total: 3
Bathrooms Full: 2
Bathrooms Half: Yes
Bathrooms Total: 3
Living Area: 1744
Living Area Source: Public Records
Year Built: 2011
Association YN: No
Association Fee Frequency: One Time
Garage Spaces: 2
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Furnished: Unfurnished
Stories: 2
Directions: From Phillips Hwy (US 1) & Racetrack Rd: West on Racetrack 1st (L) Big Cypress Dr. Follow to Cypress Trace. After Gate 1st (R) Walnut property is on left.
Public Remarks: This amazing 3 Bedroom/ 2 ½ bath, with a 2 car garage offers an great open floor plan that gives this home a warm welcoming feel, with granite counter tops, Stainless Steel appliances. Owners Suite has 2 walk-in closets & bedroom #2 also offers a walk-in closet. Enjoy entertaining on the screened lanai with serene lakefront water view has a large backyard play area. The community offers a large pool with covered seating area and children's wading pool. The community also offers two play areas and tennis courts. Hurry, this town home will not last!!!!!
List Price/SqFt: 1.2
Sold Price/SqFt: 1.15

Property Features

Appliances: Dishwasher; Electric Range; Microwave Interior Features: Breakfast Nook; Primary Bathroom -Tub with Separate Shower; Split Bedrooms; Walk-In Closet(s) Pool Features: None Association Amenities: Community Pool; Tennis Court(s) Cooling: Central Air Heating: Central Road Surface Type: Asphalt Pets Allowed: Yes

Contract Information

Property Sub Type: Single Family Residence
Property Attached YN: Yes
Listing Contract Date: 2021-08-17
Lease Term: Month To Month

Location Tax and Legal

Street Number: 487
Street Name: WALNUT
Street Suffix: Drive
State: FL
County: St. Johns
Postal Code: 32259
MLS Area Major: 301-Julington Creek/Switzerland
Subdivision Name: Crossings At Cypress Trace

Status Change Information

Major Change Timestamp: 2021-09-06T14:07:25Z
Major Change Type: Status Change
Purchase Contract Date: 2021-09-03
Close Date: 2021-09-03
Close Price: 2000

Historical Information

Public Historical Remarks 1: Water - Public: Y, Assoc Appl Fee: N, Tenant Pays All Utilities: Y, Common Club Amenities-Club Facilities: Y
Public Historical Remarks 2: Occupancy: Negotiable, Dining-Living/Dining Combo: Y, Townhouse: Y

More Information

Listing Office: COMPLETE PROP MANAGEMENT LLC

Last Updated: February - 27 - 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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