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.

505 LANCASTER Street 9A-B, Jacksonville, FL 32204 (MLS# 2165363)

505 LANCASTER Street 9A-B, Jacksonville, FL 32204

$3,000,000

Virtual Tour

https://www.zillow.com/view-imx/cee000d3-a5b4-4784-b492-633a2abacc38?wl=true&setAttribution=mls&initialViewType=pano

Property Type: Residential Bedrooms: 2 Baths: 3 Square Footage: 3,600 Status: Active

Current Price: $3,000,000 List Date: 9/18/2026 Last Modified: 10/27/2026

Overview

Description

Riverfront Reimagined | Historic Riverside's Most Extraordinary Address Two riverfront residences reimagined as one. This 3,600 square foot, 2 bedroom, 3 bath home offers an expansive primary suite with its own open bonus space, wraparound floor to ceiling windows, and panoramic views of the St. Johns River from sunrise to skyline. Step inside and feel the difference immediately. This residence carries the same polished, private feel of an elegant downtown New York or Miami address, an arrival experience unlike anything else in Jacksonville. Step out to your own private outdoor space and watch downtown's fireworks light up the water without ever leaving home. This isn't a condo with a view. The view is the home. Entertain in a gourmet chef's kitchen finished in elegant marble, complete with a butler's pantry made for effortless hosting, from holiday dinners to sunset cocktail hours.

Supplements: Wide plank wood floors and designer lighting carry that same elegance through every room, each one framed by another angle of the water. The primary suite is a retreat of its own, with river views that follow you to bed, a custom walk-in closet, and a spa inspired marble bathroom with a soaking tub made for unwinding. Flowing right off the primary ... (Read more)

Listing Details MLS# 2165363

General Property Information

Bedrooms Total: 2
Bathrooms Full: 3
Bathrooms Total: 3
Living Area: 3600
Living Area Source: Public Records
Year Built: 1984
Accessory Dwelling Unit Y/N: No
Homestead YN: Yes
Association YN: Yes
Association Fee: 2010
Association Fee Frequency: Monthly
Association Name: Park Plaza of Jacksonville Contact Mitch Matlocks
Association Phone: 904-356-8271
CDD Fee YN: No
Accessibility Features YN: No
New Construction YN: No
Garage YN: Yes
Garage Spaces: 2
Carport YN: No
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: Yes
Furnished: Unfurnished
Stories: Yes
Stories Total: 15
Entry Level: 9
Senior Community YN: No
Direction Faces: East
Directions: From I-95 South drive over the Fuller Warren Bridge take exit Park St. Turn left and get into the left lane and turn right at the first light. Drive until you get to the end at light turn right onto Riverside Ave. Turn left onto Lomax Street. Drive to the end right side is Park Plaza Drive up the ramp and park on the second level guest parking lot.
Public Remarks: Riverfront Reimagined | Historic Riverside's Most Extraordinary Address Two riverfront residences reimagined as one. This 3,600 square foot, 2 bedroom, 3 bath home offers an expansive primary suite with its own open bonus space, wraparound floor to ceiling windows, and panoramic views of the St. Johns River from sunrise to skyline. Step inside and feel the difference immediately. This residence carries the same polished, private feel of an elegant downtown New York or Miami address, an arrival experience unlike anything else in Jacksonville. Step out to your own private outdoor space and watch downtown's fireworks light up the water without ever leaving home. This isn't a condo with a view. The view is the home. Entertain in a gourmet chef's kitchen finished in elegant marble, complete with a butler's pantry made for effortless hosting, from holiday dinners to sunset cocktail hours.
List Price/SqFt: 833.33

Property Features

Architectural Style: Contemporary Levels: One Property Condition: Updated/Remodeled Rental Restrictions: 6 Months; 1 Year; Tenant Approval Appliances: Convection Oven; Dishwasher; Dryer; Electric Cooktop; Electric Oven; Electric Water Heater; Microwave; Refrigerator; Washer Interior Features: Built-in Features; Butler Pantry; Entrance Foyer; His and Hers Closets; Kitchen Island; Open Floorplan; Pantry; Primary Bathroom -Tub with Separate Shower; Split Bedrooms; Walk-In Closet(s) Flooring: Marble; Wood Laundry Features: Electric Dryer Hookup; In Unit; Washer Hookup Utilities: Cable Available; Electricity Connected; Sewer Connected; Water Connected Cooling: Central Air; Electric Heating: Central; Electric Water Source: Public Sewer: Public Sewer Security Features: Entry Phone/Intercom; Fire Alarm; Fire Sprinkler System; Secured Lobby; Smoke Detector(s) Construction Materials: Concrete Exterior Features: Balcony Patio And Porch Features: Side Porch Parking Features: Assigned; Attached; Covered; Garage; Gated; Guest; Secured; Underground Lot Features: Dead End Street View: River Waterfront Features: River Front Current Use: Residential Association Amenities: Community Pool; Elevator(s); Management - Off Site; Service Elevator(s) Association Fee Includes: Maintenance Grounds; Security; Trash; Water Road Frontage Type: City Street Road Surface Type: Asphalt Possession: Close Of Escrow Listing Terms: Cash; Conventional

Contract Information

Property Sub Type: Condominium
Property Attached YN: Yes
Listing Contract Date: 2026-09-18
Unit Type: End Unit

Location Tax and Legal

Street Number: 505
Street Name: LANCASTER
Street Suffix: Street
County: Duval
State: FL
Postal Code: 32204
MLS Area Major: 031-Riverside
Subdivision Name: Park Plaza

Status Change Information

Major Change Timestamp: 2026-09-18T12:34:00Z
Major Change Type: New Listing

DPR Eligible

DPR Eligible: No

More Information

Listing Office: COLDWELL BANKER VANGUARD REALTY

Last Updated: October - 27 - 2026

Information deemed reliable but not guaranteed.