Urban and suburban office leasing trends contrast in Jacksonville
![graph of the average months on market for urban office properties vs. suburban office properties in Jacksonville from 2017 to 2023](/documents/35486/96633304/Jacksonville+Data+Bite+1.24.png/5260618f-fce4-8b3a-2be8-c3c4f704b4f8?t=1706303310400)
- The Jacksonville office sector revealed a noteworthy demand discrepancy between urban and suburban markets in 2023, with urban properties exhibiting an extended leasing period in contrast to suburban properties.
- At the end of the year, properties in urban areas were experiencing an average time on market of 23.3 months, which is 51% longer than the 15.4-month average in suburban markets.
- Nevertheless, urban properties witnessed a 19% year-over-year reduction in the average months on the market in 2023, indicating a potential change in future leasing trends.
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