The city of Jacksonville is the largest in Florida in terms of population as well as size. The last recession took no prisoners and Jacksonville along with most other cities in Florida was majorly affected. However Jacksonville real estate market has been slowly showing improvements.
After the recession as with many other real estate markets, the Jacksonville market plummeted. However recent trends have shown that the market has been doing well for itself and to remove itself from the price weakness of the post-recession period. According to fortunebuilders.com the current average price of a home in Jacksonville is $186,500. Experts have also predicted a percentage increase of more than 2 percent in 2015 for home prices.The president of the Jacksonville chapter of the Florida Association of Mortgage Professional, Howard Dyal believes that many neighborhoods in Jacksonville have become a seller’s market and there are many more neighbourhoods which will improve in the coming years, according to fortunebuiders.com. With such good numbers after the recession Florida
Investing Jacksonville in real estate in Jacksonville can be quite a welcome option.
High Appreciation Rates for Homes
One aspect of real estate which makes real estate investors smile is appreciation value of the property. Appreciation refers to the increase in value of an asset over time. Jacksonville home owners have received a lot of equity over the years. The below are a few highlights obtained from fortunebuilders.com of the increase in equity as it relates to the year the home was purchased:
– One year ago home purchase in Jacksonville saw an average $4,257 appreciation compared to the national average of $12,783 over the same period.
– Three years ago home purchase saw an average $65,748 appreciation compared to the national average of $55,406 over the same period.
– Five years ago home purchase saw an average $51,449 appreciation compared to the national average of $49,675 over the same period.
– Seven years ago home purchase saw an average $13,979 appreciation compared to the national average of $9,474 over the same period.read more information straight from this source.
– Nine years ago home purchase saw an average $24,752 appreciation compared to the national increased average of $3,419 over the same period.
Increase in Jobs
Another factor which positively affects the real estate market is a high job availability. Wallethub recently ranked Jacksonville as one of the 49th best places to find a job and this rank leaves Jacksonville as the second highest city in the state of Florida. According to fortunebuilders.com the job growth rate in Jacksonville is more than three percent and this is quite encouraging for the city. The employment sector will serve as both a demand and supply for the housing sector in Jacksonville hence giving real estate more boost.visit the website http://www.bizjournals.com/charlotte/blog/outside_the_loop/2014/11/romarco-minerals-delays-hiring-at-haile-gold-mine.html to get latest news and tips.
Florida Investing Jacksonville can be considered a “gold mine” for real estate investors due to a combination of all the factors: improved market post-recession, appreciation in rates for homes, increased amount of job availability, low unemployment rate and a high median household income.