Jacksonville’s fastest-growing residential real estate area top 20 in Florida
Duval County’s residential real estate market has lagged behind much of the state’s housing price increases, but new data shows that one Jacksonville neighborhood is among the fastest-growing in Florida.
Home prices in the county have increased nearly 6 percent since last year and increased more than 1.1 percent quarter-over-quarter, according to Zillow Research’s recently released second quarter housing data. But the area south of Interstate 10 between Riverside Avenue and I-295 is one of the top 20 ZIP codes in the state for residential property value growth.
The housing prices in that area of Avondale – the 32205 ZIP code – experienced a more-than-16 percent increase since last year and a 5.5 percent increase quarter-over-quarter, making it the most appreciating ZIP code in the city on an annual basis.
The area surrounding Old Kings Road, northwest of I-295, is also experiencing a boom in property values. The 32219 ZIP code has recorded a nearly 14 percent yearly increase in residential real estate prices and actually outpaced the Avondale area for quarterly growth.
The highest increase in Florida was a ZIP code in the Miami-Dade area that saw a 27 percent year-over-year increase and nearly 8 percent quarterly growth for real estate values.
But that isn’t the only burgeoning area in Duval County.
Of the 30 ZIP codes the research firm analyzed, only 32217 has recorded a yearly decrease in property values, although eight other areas experienced a quarterly decline.