Just three months ago, Jacksonville homebuyers were scrambling to compete – making rushed offers, paying well above asking price, and agreeing to buy homes “as is” without the usual safety nets. Today, that pressure has eased. Buyers have regained leverage, and the shift is changing how both sides approach the market.
After years of sellers holding all the leverage, Jacksonville’s real estate market has become more balanced, according to longtime realtor Terry Sadowski of RE/MAX Specialists. Homes are sitting on the market longer, sellers are negotiating again, and buyers finally have time to make considered decisions before submitting offers.
For those who have been waiting to buy, conditions are now in their favor.
The Current Market
Homes across the Jacksonville area are taking significantly longer to sell than they did just a few years ago. In St. Johns County, listings now sit for an average of 72 days before selling, while in Duval County the average is 85 days. During the pandemic boom, many homes sold within days, often with multiple offers arriving almost immediately.
Sellers are making it easier for buyers to get deals done. Many are offering to help pay closing costs, covering home warranties, or contributing money to lower buyers’ monthly mortgage payments. As a result, homes are no longer selling above asking price – they’re closing for about 93.5 percent of the list price on average, compared with roughly 105 percent just two years ago.
“Sellers who expected bidding wars are now making concessions just to get a deal done,” says Sadowski, who has worked in Northeast Florida real estate since 1986.
Buyers, meanwhile, are taking their time. Instead of rushing to bid on the first available home, they’re touring more properties before making a decision. The urgency that recently defined the market has faded, and buyers have regained leverage.
Key Factors
Three main factors have changed Jacksonville’s market dynamics:
Rising Mortgage Rates: Mortgage rates have climbed from the low-3-percent range in 2021 to around 6.25 percent today. This increase has reduced buyers’ purchasing power. For example, a buyer who could afford a $600,000 home at 3 percent can now only afford about $540,000 at current rates. As a result, sellers have had to lower prices or wait longer for offers.
Higher Inventory: Jacksonville’s housing inventory has grown to 4.9 months of supply, a significant increase from recent years’ shortages. More available homes mean buyers have more choices, and sellers face greater competition.
Slower Inbound Migration: While people are still relocating to Jacksonville from cities like New York and Miami, the pace has slowed. The influx of buyers willing to pay any price has diminished. According to Sadowski, many potential buyers are staying on the sidelines, waiting for mortgage rates to ease even slightly before jumping back into the market.
Jacksonville’s Submarkets
Not all parts of the Jacksonville area are moving at the same pace, and knowing where the market is still competitive – and where it has cooled the most – can help buyers and sellers set realistic expectations. St. Johns County remains the most competitive area in the metro, driven by highly rated schools and steady growth. Homes there are selling faster, averaging about 72 days on the market, and often command higher prices.
Clay County offers a similar school environment but at lower price points, making it attractive to families looking for more value. Duval County, which includes Jacksonville proper, has the longest average time on the market at about 85 days, a sign that buyers there have more leverage. With more homes available and fewer rushing to make offers, buyers have greater room to negotiate on price, repairs, and seller concessions.
Sadowski also points to the north side of Jacksonville near the airport as an area where buyers can find strong value and growth potential, particularly in newer builder communities with more competitive pricing.
A More Deliberate Market
Today’s Jacksonville housing market is defined less by speed and pressure and more by time and negotiation. The process from showing to closing has become more drawn out. Buyers who once made offers within 48 hours now often take a week to decide. Closings that used to wrap up in 30 days are stretching closer to 45 as lenders ask for more documentation and buyers negotiate repairs.
“It’s a much less frantic pace,” Sadowski says. “Buyers can actually think before they bid.”
For sellers, the shift requires a reset in expectations. Homes are taking longer to sell, which means being prepared for a longer stretch on the market. At the same time, pricing and presentation have become far more important: homes that are overpriced or don’t show well can linger for months, while those priced realistically and well presented are still selling within a couple of weeks, sometimes with multiple offers.
Advice for Buyers and Sellers
If You’re Buying: Buyers now have room to be selective and negotiate. If a home has been on the market for more than two weeks, consider offering less than the asking price – many sellers are open to negotiation. You can also ask for time to inspect the home as well as for help covering repairs, options that were rarely available a couple of years ago. If higher interest rates are a concern, ask whether the seller will contribute money at closing to reduce your mortgage rate and lower your monthly payment – a practice known as a rate buydown. Also, lock in your mortgage rate for 60 days and keep looking, since more homes are coming onto the market and better deals may appear.
If You’re Selling: Set your price carefully from the start, since homes that are priced too high tend to just sit there. One way to attract buyers is to offer a closing cost credit upfront – for example, $5,000 that the buyer can use to cover lender fees, taxes, or insurance at closing, reducing the cash they need to bring to the table. Professional staging and strong photos matter more now because buyers are comparing multiple homes, often online, before deciding which to see in person. Being flexible with showings also helps, including accommodating last-minute requests or showing on the evenings and weekends whenever possible. “You gotta take every single showing,” Sadowski says. “You never know when that buyer is going to be the buyer.”
Looking Ahead
Jacksonville remains a buyer’s market for now, with slower sales, more inventory, and sellers more willing to negotiate – especially as the holidays approach and fewer buyers are actively searching. Many buyers are waiting on the sidelines for mortgage rates to ease, even slightly, which has kept competition relatively low. If rates dip, activity could pick up quickly, making the market more competitive by spring.
Looking further ahead, Sadowski expects 2026 to be a strong year for Jacksonville real estate, supported by more balanced inventory and steady demand. For buyers, that makes the current moment an opportunity to negotiate with less pressure. For sellers, it underscores the importance of pricing and presentation, as today’s conditions won’t last forever.
About the Expert: Terry Sadowski is a realtor with RE/MAX Specialists in Jacksonville, Florida. He has worked in Northeast Florida real estate since 1986, with experience in new home sales and resale markets across St. Johns, Duval, and Clay counties.
This article provides insights into local real estate trends in Jacksonville and does not constitute legal, financial, or investment advice.
This article was sourced from a live expert interview.
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