Jacksonville-A Sound Investment at an Affordable Price

If you’re thinking of relocating to Florida, be sure to consider Jacksonville. The Jacksonville Metropolitan Area, which is located in what is known as the First Coast region of northeast Florida, has witnessed a strong home sales market during the preceding year; well exceeding other regions in Florida. Situated along the banks of the St. John’s River, Jacksonville has led the area with the top increase in sales activity of single family homes. In fact, single family homes have seen an increase of some 38% in the last year or so. Despite the flurry of activity; however, this area remains one of the most affordable markets in the state.

Existing home sales have actually been down across the state of Florida, while Jacksonville has managed to hold onto its lead, with a strong increase in home sales. In fact, the area reported the second highest increase in sales transaction in the state. Across the state, as sales lagged, single family homes prices increased by more than double during the last five years. Homes in Jacksonville are considered to be a steal; with the median home price in this area going for only about $190,000. Comparatively, homes in other areas such as Daytona, Orlando and St. Petersburg have well exceeded the $200,000. Home prices in Ft. Lauderdale are topping $350,000 while the median home price in cities such as Miami, Naples and West Palm Beach are going for at or over the $400,000 mark. The median home price in Naples is actually nearing the half a million dollar mark.

That’s not to say, of course, that every home in Jacksonville can be purchased for around $190,000. Some homes are more expensive and some homes are less expensive. The pricier homes tend to be around areas such as Amelia Island and Ponte Vedra. The small barrier island known as Amelia Island, in particular has seen an explosion of growth during the last decade while posh resorts have been developed along with gorgeous golf courses. The maintenance of a small Victorian era seaport atmosphere has helped this area to see a steep climb in home prices.

For homebuyers who are tired of steep home prices in other areas, the affordable housing market in Jacksonville is a welcome respite. This is particularly true for residents who are seeing to move away from areas prone to direct hurricane hits. The Jacksonville area is known to be at a reduced risk from a direct hurricane hit; making it an attractive option in the wake of two very active hurricane seasons, with another predicted to be on the way.

 
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