Jacksonville sees one of the biggest drops in median home-sale price in the country

The truth of the matter is that the agent gets paid an average of 5% on the transaction, to be split with the agent that brings the buyer, in this case there was $35,000 to be split.
Once you put a realtor in position there is no one in the transaction to see you the seller lower your price.
Even with the law changes on commisions this is still a closed market and the agents that pay to play control it.
The reason that you see precipitous price drops is that realtors brought the market to its frothy highs, no different than the stock market except that you are using leverage to amplify the pain as well as your profits. I live in the Jax market and the original listing price was way out of line.....way out, it took market forces for the market to sort it out.
I would love to see what comps she used to arrive at that price and would bet that the original listing price had no support.

The end price isn't dropping if insurance and property taxes are still going up.

Haha….. NOTHING in Jacksonville should be 799k….. 😂😂😂

Was probably $300k when it was built in the early 2000s.

700k house? Go screw

Price are finally reflecting the actual price.

They are not smart people

699k is toooo much 🎉🎉🎉🎉

Can you imagine being so incredibly stupid to list this old house with issues and some off the shelf renovations to spatula deterrents for $800,000 to find some even stupider moron pay $700,000 for a house that costs $240,000 at the most?!

Houses as of today in my hood sell in 60 days time linel. Why? Cause they are selling for mid 400k to low 500k . Not over inflated prices

how can she say we are not making any money on it? she is a real estate agent. they make there money no matter what.
unless she is a flipper. then she learned a hard lesson.

Well, I know a floridian didn’t purchase THAT home at THAT price...had to be snowbirds or Californians. 💯

She couldn’t sell the house and you idiots come and pay her asking price after $100,000 cut.

He wished the home price would go up to $40 million so he could pay Property taxes of $40,000 and up on his house.

I lived in Jax when I was a kid. It smelled like a fart. Seriously. Is it still that way ?

Douglas, Ga united states region some house are raising price by cleaning keep in good condition and improve garden area in residence and landscape and repair road make change to improve house appearance.

If the house price goes down why does the property tax not go down ?

3.1% that's nothing!

480k tops for that.

Suck it realtors 😂😂😂

The home was probably over priced when she put it on the market. If you bought anything within the last 4 years you probably paid too much.

Why does the female agent use Valley Girl cadence when she speaks, sounds immature

May this continue to drop national wide

Paying 700k to live in swampville should be a crime 😂😂

It's the greedy agents they're just paying the price now nobody's buying these homes at these outrageous prices😅😅😅

799 for that house the house isn't worth no more than $400,000 at the most

At 300k it would be worth it , there are to many fees and taxes and HOA

You should see what people are paying in Buffalo NY - 800k plus for a sh!t hole plus 3% NYS property tax. People are already getting hurt!

Because nobody wants to pay $799k for $300k house in Jacksonville..

Housing crisis. So it's a greed & profit crisis. Not crying for this realtor.

About time. And everyone that hiked prices up hope you lose big. House that sells for low then trying to rip people off selling for half million. Bs

I own my home no mortgage. When I bought my current home in ‘21 prices were really starting to rise. I paid a high price. But I also sold my old house for a high price. Kind of balanced out.

So minimum wage in the USA is about 15k a year and the average home is half a million dollars...
I'm not worried at all...

That’s still a lot.

This is a bad example cuz julington creek is NOT in Jacksonville…. It’s in Saint Johns county not Duval. Y’all could have pulled a better example from Zillow. The prices on the area are significantly higher than Duval.

699k...yea thats not happening. Way over paid. Thats easily a 400k home it appears.

It like looking at something that is worth $5 and now they are asking $15. Houses are NOT worth what they are asking

The buyers didn’t get a $100k discount. The sellers priced it wrong and when no one bought the house you claim everyone is getting a discount. If the buyers waited a six more weeks they could’ve gotten another “discount.”

That was a $350k home, AT MOST. $799k or even $699k are oceanfront mansion prices. 🤨

Thought maybe, but nope there isno change in the market. That house should be more like $300-$350 even then its not really affordable for actual JAX residents, these prices are still for implants from other states because the job market still does not pay well enough here.

Lies 😂 nobody in their right mind would pay more than 379K for that.

NOTHING TO DO IN THAT CITY, ITS SCARY,no Activities for adults and especially not the children. So SAD..

you'd have to be a complete idiot to buy a home for a mortgage that's triple more than what it costs to rent it, you'll never see that money return

Are we supposed to cry over over priced houses? I know that area and that is priced to take advantage of buyers. Keep in mind, this is florida, you but a 3/4 million house made of pine and a hurricane will blow it over.

This is silly. Realitors crying because they can't rip off buyers..

Doesnt even have a Backyard !!! How small too high even at 699 .
Can buy a farm im Alabama with 15 acres for that!!!

No jobs to support valuations. I'm not paying over 4 times earnings.

I wonder what the original purchase price of that home was when it was first built. I'm pretty sure it was nowhere near 699k. As homeowners, we want to sell at a profit but these asking prices are outrageous and laughable. Someone overpaid drastically 😂

Most houses are over valued