JACKSONVILLE, Fla., June 9 – In May 2025, Northeast Florida’s housing market continued to show a blend of growth and shifting dynamics. Home prices edged slightly upward, leading to a small dip in affordability across the region. Fewer new listings came to market, but the total number of homes available continued to climb, providing buyers with more choices. These regional trends played out differently across each county, where shifts in price, inventory, and buyer demand highlighted the diverse conditions in the region.
The median sales price for single-family homes in Northeast Florida’s six-county region increased by 0.2% since April, to $388,995. This caused the Home Affordability Index* to fall to a score of 66, a 1.5% decrease from April.
“In general, we are seeing the shift to a more balanced market for both buyers and sellers” said 2025 NEFAR President, Mario Gonzalez.
In May, closed sales for single-family homes totaled 1,984 transactions, a 3.5% increase since April. Meanwhile pending sales were at 1,408, which was a decrease of 28.2%. There were 2,870 new listings in the month of May, an 8.7% drop since the previous month.
Since April, the active inventory of single-family homes increased by 6.6% to 9,147 properties. This is also a drastic increase from the previous year, as the number of properties has grown exponentially by 20.1% since May 2024. This rise in inventory from 2024 is a positive change for buyers, as they have many options to choose from. The median number of days on the market was 39.
“These changes may continue to signal more sellers to choose to list their home before things shift more to potentially favoring buyers” said Gonzalez.
Northeast Florida by County
In Duval County, May showed a 1.5% decrease since April in the median price of single-family homes, falling to $329.990. In May, homes in Duval County spent a median of 36 days on the market. While closed sales rose 0.6% to 991, pending sales fell 28.6% to 715. New listings fell 11.4% to 1430, and there was an active inventory of 4,336 homes—a 4.4-month supply. The Home Affordability Index remained at 78.
In Clay County, in May 2025, the median price for single-family homes increased by 3.7% from April to $367,990. Homes spent a median of 54 days on the market. Closed sales rose 3.7% to 282, and pending sales were at 200. New listings dropped 2.2% to 393, while active inventory increased by 7.3% to 1,230 homes, representing a 4.4-month supply. The Home Affordability Index fell to 70, indicating decreased affordability in the market.
In St. Johns County, the May 2025 median price for single-family homes decreased to $550,000, a 3% decrease from April. Homes spent a median of 51 days on the market, an 18.6% increase since the previous month. Closed sales increased by 13.2% to 530, with pending sales falling by 34.5% to 326. There were 763 new listings, 9.7% less than April. Active inventory increased by 10.8% to 2,636 homes, representing a 5-month supply. The Home Affordability Index was 47, as St. Johns County remains the most expensive county in the region.
In Putnam County, the May 2025 median price of single-family homes rose to $270,000, an 11.3% increase since April. The median days on the market fell 5.6% to 67 days, reflecting shorter sales cycles. Closed sales increased by 6.3% to 51, while pending sales dropped 18.9% to 43. There were 76 new listings. The active inventory rose by 1.7% to 297 homes, indicating a 5.8-month supply, and the Home Affordability Index dropped to 96. Though Putnam County is affordable, it is no longer the most affordable in the region.
In Nassau County, in May 2025, the median price of single-family homes was $463,400, a 3.5% decrease from April. The median days on the market fell 48.5% to 26. Closed sales were down 9.2% to 119, while pending sales were at 118, and new listings jumped by 2.9% to 180. Active inventory dropped by 0.7% to 541 homes, a 4.5-month supply. The Home Affordability Index rose slightly to 56, showing a small increase in relative affordability.
In Baker County, May showed a decrease in the median home price, falling to $265,000, which is 13.1% lower than April. Homes moved slower with the median days on the market increasing 64.4% to 97. Closed sales decreased to 11, a 15.4% change from April. Pending sales fell by 53.8% to 6, and there were 28 new listings, which was a 6.7% decrease. Active inventory rose 18.9% to 107 homes, providing a 9.7-month supply. The Home Affordability Index saw a noticeable rise of 14% to 98, making Baker County the most affordable in the region.
* The Home Affordability Index measures housing affordability for the region. In other words, it measures whether a typical family earns enough to qualify for a mortgage on a typical home, based on current interest rates, median income, and median home prices. A higher number means greater affordability. This index measures affordability factors for all homebuyers making a 20% downpayment. An index of 100 is defined as the point where a median-income family has the exact amount of income needed to purchase a median-priced existing home. An index value over 100 means that the family has more than enough income, while a value below 100 means that a family doesn’t have enough income to qualify for a mortgage loan.
The Northeast Florida Association of Realtors (NEFAR,) serves as the voice of real estate in Northeast Florida. As the region’s largest professional association, it represents more than 13,000 members who work in all facets of the real estate industry including residential and commercial sales and property management. It serves the public through support of community affairs programs and seeks to protect private property rights. The Northeast Florida Multiple Listing Service (DBA realMLS) is a wholly owned subsidiary of NEFAR. NEFAR is headquartered in Jacksonville, with satellite Service Centers in Orange Park, Jacksonville Beach, and Palatka.
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