Business and Tax Lawyer Blog

A recent statement released by Zillow.com (an online real estate appraisal system) notes that Jacksonville home prices have decreased by another 12% since last year. The current average price for a home in Jacksonville is less than $125,000. According to Zillow's Chief Economist, Dr. Stan Humphries, the market will not hit bottom until 2012 at the earliest.

To learn more about this article, visit Local home price drop 12 percent.

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Jacksonville’s industrial and retail commercial real estate market saw some positive growth during the first quarter of 2011.

Industrial space had a positive absorption increase of over 100,000 square feet. A positive absorption rate indicates that more space was either leased or bought than was vacated. Jacksonville's Northside had the region's highest industrial vacancy rate of over 15 percent.

First quarter reports also show that the total office vacancy rate was over 20 percent. However, office space saw a positive absorption of over 35,000 square feet. Currently, Arlington has the highest office vacancy rate at almost 32 percent. The total freestanding retail and shopping center absorption was over 70,000 square feet.

To read more on this article, visit Jacksonville commercial real estate leasing gains strength.

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