market update Tag

The Jacksonville Real Estate market continues to see a recovery towards a more healthy, stable marketplace, but at a more moderate pace. This isn't a bad thing - it means that the rise to normal inventory numbers and prices will be stable and less likely to falter. Some potential trends to watch for this year include increased seller activity as sellers become more confident in the market, more new construction to help combat low inventory numbers, and fewer foreclosures on the market as they continue to be picked up by investors and buyers willing to work with them.

Another builder has jumped into the new construction storm swirling around Jax, this time targeting an underdeveloped area of Southside. ICI Homes started construction on its new mixed-use community, Tamaya, at the intersection of Beach Boulevard and Kernan, with eight model homes set to break ground in January to showcase the varied Mediterranean home styles for interested homebuyers. Tagged as a high-end development "between the city and the sea," the master-planned community will combine Old World architecture with first-class amenities and a European Village.

Notice something new? The landscape is changing around Jacksonville as developers start and complete some of their biggest projects in years. Here are four I think you should have your eye on in the coming year.

5 Thousand Town at the St. Johns Town Center

A new apartment community located between Seasons 52 and Moxie Kitchen + Cocktails in the town center, 5 Thousand Town held its grand opening in November 2013 and is currently at around 50 percent occupancy. It features 130 apartments with a mix of one-, two- and three-bedroom units ranging from $1,385 for a one-bedroom spot up to $2,320 for a three-bedroom option. The upscale development includes a rooftop lounge, a rooftop terrace with fire pits, a dog park, a fitness center, an on-site carwash and a coffee bar. Renters also have quick access to Butler Boulevard and more than 130 nearby entertainment venues.