Why Buyers Are Finally in Control Again in Jacksonville

Is the Jacksonville market finally leaning in favor of buyers? Over the past few months, conditions have been changing, and as we move into the fall of 2025, it is safe to say we are officially in a buyer’s market. This shift means sellers are adjusting expectations while buyers gain more control in negotiations. Understanding what that looks like can help both sides make smarter decisions in today’s market.

For example, I recently worked with a first-time buyer who had been on the sidelines for a couple of years. Their budget topped out at $450,000, and they found a home listed at exactly that price. Instead of offering full price, we submitted an offer of $422,000. The house had been sitting on the market for over 60 days with very few showings. Not only was the offer accepted, but we also negotiated 2% in closing cost assistance. In the end, the buyer purchased the home for about $37,000 below the asking price.

This is a reminder for both buyers and sellers: the asking price does not determine value. A home is only worth what a buyer is willing to pay. If a property has been sitting for months without offers, then the market has spoken. Sellers must decide whether to hold onto the property or take the best offer, which may be far less than expected.

Jacksonville real estate numbers. July was one of the slowest months for new contracts in the Jacksonville market. The number of deals going under contract dropped by about 48%, leaving more homes sitting on the market. Average days on market have climbed to 59, compared to just four days at the height of the post-pandemic market. I expect that number to keep rising through the fall and winter.

Interest rates are another factor. Many buyers are waiting for rates to fall, but history shows sub-4% interest rates are extremely rare, occurring only three times in the past 50 years. Two of those times were during the pandemic. Today’s rates average around 6.6%, which is not unusual by long-term standards. Waiting for rates to return to pandemic levels is unrealistic.

The good news for buyers is that you now have negotiating power. You can ask sellers to buy down your rate, contribute to closing costs, or offer other concessions. Sellers no longer control the terms the way they once did. Demands for quick closings or rigid conditions will not be met in this market.

This is the reality as we move into a buyer’s market. If you are buying, take advantage of the leverage you have. If you are selling, recognize that the market is no longer working in your favor and be prepared to adjust.

If you want to learn more about what is happening in the Jacksonville real estate market, reach out at 904-650-3890 or email me at Matty@PursuitRealEstate.com. I’d be happy to walk you through the details and help you understand what today’s market means for your goals.