The Jacksonville housing market is showing balanced conditions with stable prices and moderate inventory levels. Home prices have decreased 3.2% in the past month. With 3.4 months of supply, Jacksonville's inventory levels remain relatively tight. Homes are taking about 49 days to sell, which is -12 days longer than this time last year. A significant 23.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 20.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Jacksonville market with the affordability index at 121.6. Based on current market indicators, home prices in Jacksonville are projected to increase by approximately 11.1% over the next month.
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