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.

5332 COMMONWEALTH Avenue, Jacksonville, FL 32254 (MLS# 2156015)

5332 COMMONWEALTH Avenue, Jacksonville, FL 32254

$69,900

Property Type: Residential Bedrooms: 2 Baths: 1 Square Footage: 750 Lot Size (sq. ft.): 7,405 Status: Active

Current Price: $69,900 List Date: 10/05/2026 Last Modified: 10/27/2026

Overview

Description

This 2-bedroom, 1-bathroom home is an excellent opportunity for investors looking for an income-producing property or buyers seeking an affordable starter home. Home was fully remodeled with new roof and A/C in 2020. Perfectly positioned for convenience, the property is located close to downtown and just one mile from the 295N interstate, making your commute simple and quick.

Listing Details MLS# 2156015

General Property Information

Bedrooms Total: 2
Bathrooms Full: Yes
Bathrooms Total: Yes
Living Area: 750
Living Area Source: Assessor
Year Built: 1950
Accessory Dwelling Unit Y/N: No
Homestead YN: No
Lot Size Acres: 0.17
Association YN: No
CDD Fee YN: No
Accessibility Features YN: No
New Construction YN: No
Garage YN: No
Carport YN: No
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Furnished: Unfurnished
Stories: Yes
Entry Level: Yes
Senior Community YN: No
Directions: From 295N to Commonwealth Ave heading East and home will be about a mile down on your right.
Public Remarks: This 2-bedroom, 1-bathroom home is an excellent opportunity for investors looking for an income-producing property or buyers seeking an affordable starter home. Home was fully remodeled with new roof and A/C in 2020. Perfectly positioned for convenience, the property is located close to downtown and just one mile from the 295N interstate, making your commute simple and quick.
List Price/SqFt: 93.2

Property Features

Architectural Style: Traditional Levels: One Property Condition: Fixer Appliances: Electric Oven; Electric Range Flooring: Vinyl Utilities: Electricity Available Cooling: Central Air Heating: Central; Electric Water Source: Private Sewer: Septic Tank Construction Materials: Other Patio And Porch Features: Front Porch Roof: Shingle Parking Features: Other Fencing: Back Yard Current Use: Residential; Single Family Community Features: Suburban Road Frontage Type: City Street Road Surface Type: Asphalt Possession: Close Of Escrow Listing Terms: Cash

Contract Information

Property Sub Type: Single Family Residence
Property Attached YN: No
Listing Contract Date: 2026-07-17

Location Tax and Legal

Street Number: 5332
Street Name: COMMONWEALTH
Street Suffix: Avenue
County: Duval
State: FL
Postal Code: 32254
MLS Area Major: 074-Paxon
Subdivision Name: Paxon

Status Change Information

Major Change Timestamp: 2026-10-19T11:34:41Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-10-19T11:34:41Z

DPR Eligible

DPR Eligible: Yes

More Information

Documents

Offer Instructions ›

Flood Disclosure ›

Lead Based Paint Disclosure ›

Sellers Disclosure ›

Listing Office: PUBLIC SERVICES REALTY

Last Updated: October - 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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