32216
Jacksonville, Florida

The 32216 market currently registers a median sale price of $269,500, marking a 10.0% year-over-year appreciation that outpaces Jacksonville's broader metro average. Homes are moving at a moderate pace with 62 days on market, while 18% of properties close above asking price—indicating selective competition rather than bidding wars. This performance reflects a market with upward price momentum but without the inventory constraints that typically push days-on-market below 45 and above-ask percentages past 30%.

Sellers with properly priced homes maintain negotiating power given the positive price trajectory, though the 62-day average suggests overpricing carries risk. Buyers gain from significantly reduced competition compared to 2021-2022 peaks, with 82% of transactions at or below list providing room for negotiation on inspection items and closing costs. Investors focused on appreciation over immediate cash flow may find value, as the 10.0% annual gain supports equity accumulation strategies, though rental yield calculations require careful underwriting at current price levels.

The PropIQ score of 70 signals neutral conditions where momentum could shift either direction within two quarters. The 18% above-ask rate warrants monitoring—any decline below 15% would indicate weakening demand, while movement above 25% would confirm tightening inventory dynamics. Price appreciation sustainability depends on days-on-market stability; a trend toward 75+ days would typically precede price correction, while compression below 50 days would validate continued growth.