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.

585 MARKET Street, St. Augustine, FL 32095 (MLS# 2160066)

585 MARKET Street, St. Augustine, FL 32095

$959,000

Property Type: Residential Bedrooms: 4 Baths: 5 Square Footage: 3,916 Lot Size (sq. ft.): 2,178 Status: Active

Current Price: $959,000 List Date: 8/14/2026 Last Modified: 8/23/2026

Overview

Description

Fully renovated upscale mixed-use (residential & commercial) townhome performing as a solid 7 Cap with long-term tenants. Excellent investment in a community that's very central and growing fast in demand due to it's location and prime amenities (tennis, gym, pools, sauna, steam room, community center). With it being surrounded by a Hines designed private golf course it serves up stable value and growth potential. Association is very well managed/funded and property insurance, maintenance, annual fire inspections and water are included in association dues.

Listing Details MLS# 2160066

General Property Information

Bedrooms Total: 4
Bathrooms Full: 3
Bathrooms Half: 2
Bathrooms Total: 5
Living Area: 3916
Living Area Source: Public Records
Year Built: 2007
Accessory Dwelling Unit Y/N: Yes
Homestead YN: Yes
Lot Size Acres: 0.05
Association YN: Yes
Association Fee: 499
Association Fee Frequency: Monthly
Association Name: Crosswinds Palencia Live/Work Townhomes
Association Phone: 904-377-0023
CDD Fee YN: Yes
CDD Fee Amount: 3499
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
Water Frontage Feet: 12
Furnished: Negotiable
Stories: 3
Entry Level: Yes
Senior Community YN: No
Direction Faces: East
Directions: I-95 to International Golf East to Palencia Drive to Market Street
Public Remarks: Fully renovated upscale mixed-use (residential & commercial) townhome performing as a solid 7 Cap with long-term tenants. Excellent investment in a community that's very central and growing fast in demand due to it's location and prime amenities (tennis, gym, pools, sauna, steam room, community center). With it being surrounded by a Hines designed private golf course it serves up stable value and growth potential. Association is very well managed/funded and property insurance, maintenance, annual fire inspections and water are included in association dues.
List Price/SqFt: 244.89

Property Features

Appliances: Convection Oven; Dishwasher; Disposal; Electric Cooktop; Microwave Utilities: Cable Connected; Electricity Available Cooling: Central Air Heating: Central Water Source: Public Parking Features: Garage View: Golf Course; Pool Waterfront Features: Marsh Fencing: Block Current Use: Commercial; Investment; Multi-Family; Residential; Retail Possession: Close Of Escrow Listing Terms: Cash; Conventional; FHA; Owner May Carry; Private Financing Available; VA Loan

Contract Information

Property Sub Type: Townhouse
Property Attached YN: Yes
Listing Contract Date: 2026-08-13

Location Tax and Legal

Street Number: 585
Street Name: MARKET
Street Suffix: Street
County: St. Johns
State: FL
Postal Code: 32095
MLS Area Major: 312-Palencia Area
Subdivision Name: Palencia

Status Change Information

Major Change Timestamp: 2026-08-14T00:26:24Z
Major Change Type: New Listing

Accessory Dwelling Information

Dwelling Type: Apartment
ADU Attached Y/N: No
Bathrooms: Yes

More Information

DPR Eligible

DPR Eligible: No

Listing Office: EXIT MAGNOLIA POINT REALTY

Last Updated: August - 23 - 2026

Information deemed reliable but not guaranteed.

Search powered by FBS Products

Let’s Connect

Contact Detail

Newsletter

Subscribe to Zelda’s Market Updates & Newsletter

By submitting this form, you are consenting to receive marketing emails from: Go Zelda. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

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.

Compare listings

Compare