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.

548 MADISON Avenue, Orange Park, FL 32065 (MLS# 2062425)

548 MADISON Avenue, Orange Park, FL 32065

$284,000

Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 2,632 Status: Closed

Current Price: $284,000 List Date: 1/07/2025 Last Modified: 1/22/2026

Overview

Description

GREAT LOCATION IN ORANGE PARK WITH ALL THE COUNTRY LIVING ON 1.55 ACRES BARN W/ 5 HORSE STALLS AND TACK ROOM. ROOF 3YRS. H2O TANK 3 YRS. REAR PROPERTY ALREADY CLEARED .... CALL AGENT FOR QUESTIONS......property needs TLC minor repairs....great corner lot location...

Listing Details MLS# 2062425

General Property Information

Bedrooms Total: 3
Bathrooms Full: 2
Bathrooms Total: 2
Living Area: 1838
Living Area Source: Public Records
Building Area Total: 2632
Year Built: 1966
Homestead YN: Yes
Association YN: No
CDD Fee YN: No
Accessibility Features YN: No
New Construction YN: No
Garage YN: Yes
Garage Spaces: Yes
Carport YN: No
Water Body Access YN: No
Waterfront YN: No
Stories: Yes
Senior Community YN: No
Directions: BLANDING BLVD. SOUTH THROUGH ORANGE PARK (RIGHT) ON MADISON AVE. PROPERTY DOWN ON RIGHT.... CHAIN ON GATE
Public Remarks: GREAT LOCATION IN ORANGE PARK WITH ALL THE COUNTRY LIVING ON 1.55 ACRES BARN W/ 5 HORSE STALLS AND TACK ROOM. ROOF 3YRS. H2O TANK 3 YRS. REAR PROPERTY ALREADY CLEARED .... CALL AGENT FOR QUESTIONS......property needs TLC minor repairs....great corner lot location...
List Price/SqFt: 146.35
Sold Price/SqFt: 154.52

Property Features

Levels: One Appliances: Electric Oven; Refrigerator Utilities: Electricity Connected Cooling: Central Air Heating: Central Water Source: Private; Well Sewer: Private Sewer; Septic Tank Security Features: Security Gate Construction Materials: Brick Veneer; Frame Other Structures: Barn(s); Stable(s) Patio And Porch Features: Covered; Rear Porch Roof: Shingle Parking Features: Additional Parking; Gated Lot Features: Corner Lot Fencing: Back Yard; Full; Wire Current Use: Agricultural; Horses; Residential; Single Family Road Surface Type: Asphalt Possession: Close Of Escrow Listing Terms: Cash; Conventional; FHA Contingency Reason: Appraisal; Financing

Contract Information

Property Sub Type: Single Family Residence
Listing Contract Date: 2024-12-24

Location Tax and Legal

Street Number: 548
Street Name: MADISON
Street Suffix: Avenue
County: Clay
State: FL
Postal Code: 32065
MLS Area Major: 134-South Blanding
Subdivision Name: Ridgewood

Status Change Information

Major Change Timestamp: 2025-06-06T19:25:30Z
Major Change Type: Status Change
Price Change Timestamp: 2025-04-17T13:54:59Z
Purchase Contract Date: 2025-04-28
Close Date: 2025-06-06
Close Price: 284000

DPR Eligible

DPR Eligible: No

More Information

Documents

Sellers Home Disclosure ›

Listing Office: EAST COAST REALTY

Last Updated: January - 22 - 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.