Wondering what the value of your Jacksonville, FL, home is? Knowing how much your home is worth can be helpful whether you’re planning to sell, refinance, plan for the future, or are just curious.
Understanding the factors that influence home value can help you calculate how much your home is worth. In this post, our real estate experts at Your Home Sold Guaranteed Realty - Phil Aitken Home Team will discuss seven factors that impact home value as well as what homes are worth in the current Jacksonville housing market.
Key Takeaways:
- In recent months in Jacksonville, the median price of homes was $315,000. This marks an 8.4% increase from the same point last year.
- Homes in highly desirable areas with low crime rates, good schools, parks, major highways, and amenities like grocery stores tend to have a higher value and receive more buyer interest.
- Housing market trends change constantly, and your home is only ever worth what buyers are willing to pay for it at a given time.
What is the Value of Homes in the Current Jacksonville Housing Market?
In recent months in Jacksonville, the median price of homes was $315,000. This marks an 8.4% increase from the same point last year. Most homes sell for around 3% below their listing price and spend 58 to 64 days on the market before selling. The hottest homes sell for their exact asking price and sell in around 26 days.
In recent months, the sale-to-list price ratio for homes in Jacksonville was 96.8%. 13.1% of homes sell above their asking price while 33.4% end up lowering their original asking price.
What is the Value of My Jacksonville, FL Home? – 7 Factors That Impact Value
The value of your home may or may not be the same as the median market price. Home valuations are influenced by multiple factors, so the value of your home will depend on your unique situation.
- Location: The location of your home is one of the top factors that determines its value. Homes in highly desirable areas with low crime rates, good schools, parks, major highways, and amenities like grocery stores tend to have a higher value and receive more buyer interest.
- Condition: The overall condition of your home determines whether most buyers see it as valuable. The majority of buyers prefer move-in ready homes, so it’s best to take care of any necessary repairs or issues before listing your home on the market. If you want to list your home as-is, be prepared to ask for a lower price.
- Size: In addition, size plays a role in value. On average, larger homes with more square footage generally have higher values.
- Improvements: Recent improvements or renovations can increase the value of your home significantly. Kitchen remodels, bathroom upgrades, new flooring, and other improvements can provide a great return on investment.
- Housing Market: Market trends change constantly, and your home is only ever worth what buyers are willing to pay for it at a given time. Depending on whether or not your area is a buyer’s or seller’s market, your home’s value could be higher or lower than you think. Working with an experienced Jacksonville relator is essential to make sure you understand the current market conditions.
- Comparable Sales: To determine your home’s value, your realtor will analyze comparable sales in the area. This will give insight into what types of locations, conditions, sizes, and ages of homes are selling the best with buyers. Based on that data, your realtor can come up with an accurate valuation for your home.
- Economy: The health of the housing market is closely tied to the broader economy. Inflation, interest rates, unemployment, and population growth in the local area can all have an impact on property values.
Find Out What Your Home is Worth in Today’s Market
Working with a knowledgeable realtor is the best way to gain insight into the value of your Jacksonville home. If you need help figuring out what your home is worth in Jacksonville’s current market, turn to Phil Aitken and Your Home Sold Guaranteed Realty - Phil Aitken Home Team.
Our team has been rated as the best realtor in the Jacksonville area because we have years of experience and an in-depth understanding of the local market conditions. We can easily help you find the value of your home, and if you decide to sell, we can guarantee a successful sale.
Have more questions about selling your Jacksonville home with our team? Give us a call at (904) 544-5252 or send a message to [javascript protected email address]. You can also fill out the form on this page. Get ready to start packing!
To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!