Tim and Susan Fennell, our market experts in Jacksonville, Florida, say the first quarter of 2008 remained relatively unchanged compared to the last quarter of 2007.

While the number of sales and the median price is a little lower than the same periods one year ago, the market has remained stable compared to the rest of the state and the nation as a whole.

They're reporting 1869 single family homes sold in Duval County and North St. Johns county during the first quarter of this year, at an average price of about $252,000.

So how will this market change in the future?

The Fennells predict that Jacksonville's market should remain stable, with a possible up-tick during the summer and fall months and more robust growth moving into 2009.

But there is some good news now, as a major expansion of the Jacksonville port to accommodate Far East shipping interests, combined with the military's renewed commitment to Mayport and other area bases, will bring thousands of new families to the area.

And while some areas are not as strong as others, Mandarin, Southside and the Intracoastal areas continue to enjoy faster sales and higher prices than others.

Bargain shoppers will continue to find jewels throughout the city, especially on the Westside and parts of the Northside.

For more information on this market contact the Fennells at:
www.BestHomesinJacksonville.com.

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Published: May 9, 2008

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