Jacksonville has been ranked the worst large housing market in the country in a new national real estate analysis, with several other Florida cities also landing near the bottom of the list.
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– Jacksonville has been ranked the worst large housing market in the country in a new national real estate analysis, with several other Florida cities also landing near the bottom of the list.from Construction Coverage analyzed housing markets across the United States using factors including home price growth, bidding competition and the amount of time homes spend on the market. The data used in this analysis is from Redfin’sJacksonville ranked last among large cities with a composite score of 16.
Tampa ranked third worst, while Miami also appeared among the bottom-performing large housing markets. No Florida city made the list of top-performing markets. The analysis also ranked Florida among the weakest states for housing market performance, earning a score of 7.8 — trailing only Texas. Despite the rankings, some local real estate professionals say the data does not fully reflect what they are seeing in Northeast Florida.
“I don’t know where these headlines come from, to be quite honest with you,” said Laila Hassan, a real estate advisor with Christie’s International Real Estate. “Christie’s International has broken records every month since January. ” Hassan said her brokerage closed more than $105 million in sales in a single month, while she personally closed nearly $16 million during that same period. She said well-maintained homes are still selling quickly, especially properties without prior flooding or insurance-related issues.
“If the home is the right home, if it’s well taken care of, there haven’t been any insurance claims or issues, I still see those homes moving pretty quickly,” Hassan said. Still, Hassan acknowledged today’s buyers are far more selective than they were during the height of the pandemic housing boom.
“They are 100% pickier,” Hassan said. “They are not going to put their money into a home that has had issues. ”“You used to be able to make $50,000 and buy a $350,000 home,” Hassan said.
“Now that same home is $500,000 and you’ve got to make $120,000 to qualify for that home. ” According to the Northeast Florida Association of Realtors, the average home in the Jacksonville area is currently selling for about $390,000. Hassan advised buyers to focus on homes in move-in ready condition and urged sellers to make sure their homes are prepared for a more competitive market.
“What I would say to the buyer, look for homes that are in perfect condition,” Hassan said. “And then for the sellers, I would make sure that your home is very ready for today’s market. ”Tiffany comes home to Jacksonville, FL from WBND in South Bend, Indiana. She went to Mandarin High School and UNF.
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