New figures from the Florida Association of Realtors (FAR) show declining values for real estate in northeastern Florida. The decline doesn't come as a surprise to most that have seen the market plummet the past year to record lows, dashing confidence in the area. The silver lining to the current market's worrying state is that housing prices are now more affordable then ever, poised on stirring up the buyers market when prices reach their lowest of lows.

Real estate home sales in Jacksonville dropped from an average of $190,700 a year ago to the current price of $184,600.  Additionally, condo median prices fell to just under $150,000, which is surprising when you consider the $190,000 dollar demand they once had. The consistency of this market trend has led even the most opportunistic investors to wait for further price reductions.

Some will see a thirty percent drop in real estate prices as an early sign of an even greater decline.  On the other hand some believe this decline presents a great opportunity to invest in traditionally profitable Florida real estate in the hopes of getting an unusually high return due to the awkward state of the housing market.

It's assured that when prices are low enough, investors will come out of their slumber and try to buy valuable property at a low cost. Jacksonville's condos, homes and communities are available and as the buyers market lingers and the number of properties for sale grow the prices continue to drop. Market analysts have varied predictions for when the market will turn, but the reality is that no one really knows. It will take determined vigilance from opportunistic investors to know when exactly the market reaches the right time to buy.

If you've been on top of real estate news, you likely have read or heard the popular belief that the market will increase in the latter half of 2008. If these projections turn out to be valid, 2009 may be the year investors begin kicking themselves for their inaction during the period of perfectly priced real estate in early 2008. It's too early in the year to know whether these predictions will be true or not but one thing is for sure: Jacksonville real estate will soon become irresistible to the buyers market.