Magazine : Archives : 4th Quarter 2013

Back from the Brink

Jacksonville isn’t known for having a hot real estate market. The sprawling metropolis on the Southeastern coastline is home to a large U.S. military presence and 830,000 people more likely to buy second automobiles or second rifles than second homes. But just like its well-heeled cousin further south, Miami, Jacksonville’s real estate market is surging back from near collapse six years ago. The median single family home price in the Jacksonville area climbed to $170,000 in August, a 23 percent increase from the year prior. Some of the more attractive homes are getting multiple offers, and 14 percent sold for...