Single-Family Home, Condo Sales Plummet in Jacksonville

The second quarter numbers on home sales in Florida showcase the details of the slowdown in the housing market.

Sales of existing single-family homes in the Jacksonville housing market were down 24 percent in the second quarter, and the median price was down 1 percent to $207,900. The numbers are from the Florida Association of Realtors.

Those numbers were slightly better than the statewide figures, which showed a 30 percent drop in sales and a 4 percent decline in median price to $239,200. There was a severe slowdown in Florida mortgage activity all around.

Sales fell by at least 20 percent in 15 of the 20 markets tracked by FAR, rising in only two of them. The median price fell in 16 of the 20 markets, but usually only a single-digit decline.

Sales of condominiums in the Florida condo market were much the same, though locally, the median price rose. Sales in Jacksonville in the second quarter were down 16 percent even as the median price rose 12 percent to $189,300.

Sales of condos statewide dropped 25 percent, and the median price fell 1 percent to $208,400.