JACKSONVILLE, Fla., April 14th – As temperatures start to rise in Northeast Florida, so do closed sales and new listings. Following seasonal trends, the housing market sees an increase in inventory as well as sales, continuing the upturn that began last month after the winter months brought lower numbers. Additionally, home prices showed a rise in affordability, which is a welcome change for buyers.
The median sales price for single-family homes in Northeast Florida’s six-county region decreased by 1.8% since February, dropping to $379,995. This caused the Home Affordability Index* to rise to a score of 69, a 3% increase from February.
“While interest rates remain in line with pre-COVID levels, today’s higher home prices have become the new normal. Recent price dips have sparked renewed buyer interest, with a noticeable jump in showing requests and open house traffic,” said 2025 NEFAR President, Mario Gonzalez.
In March, closed sales for single-family homes rose by 35.7% month-over-month, totaling 1,784 transactions, while pending sales were at 1,514. New listings rose noticeably by 10.6% from February to March, recording 3,656 homes.
Since February, the active inventory of single-family homes increased by 10.2% to 8,258 properties. However, this is a drastic increase from the previous year, as the number of properties has grown exponentially by 63.3% since March 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 increased to 43 days, a 19.4% increase from February, indicating homes selling slightly slower than they did last month.
“Spring is shaping up to be a strong season for buyers. With more homes hitting the market, there’s greater choice and sellers are more flexible on price, terms, and repairs,” said Gonzalez.
Northeast Florida by County
In Duval County, March showed a 3.6% decrease since February in the median price of single-family homes, now at $320,000. Sales of homes decreased in speed in March, with the median days on the market rising 4.5% to 35 days. While closed sales rose 38.7% to 967, pending sales were at 772. Notably, new listings increased 12.3% to 1,945. Meanwhile, there was a 10.8% climb in active inventory, now at 4,019 homes—a 4.2-month supply. The Home Affordability Index increased since February by 5.1% to 82.
In Clay County, in March 2025, the median price for single-family homes increased by 7.7% from February to $379,990. Median days on the market climbed by 10.6% from February to 52. Closed sales increased by 39% to 253, and pending sales were at 236. New listings rose by 2.7% to 461, while active inventory increased by 5.1% to 1,126 homes, representing a 4.5-month supply. The Home Affordability Index fell to 69, indicating decreased affordability in the market.
In St. Johns County, the March 2025 median price for single-family homes did not change, sitting at $549,000. Median days on the market rose 47.2% from February to 53. Closed sales increased by 34.3to 415, with pending sales now at 339. New listings rose by 6.7% to 889, while active inventory increased by 14.2% to 2,258 homes, representing a 5.4 -month supply. The Home Affordability Index rose slightly to 48, though St. Johns County remains the most expensive county in the region.
In Putnam County, the March 2025 median price of single-family homes dropped to $235,000. The median days on the market rose 66.7% to 60 days, reflecting shorter sales cycles. Closed sales rose to 40, while pending sales were 39. New listings increased by 20% to 96. The active inventory rose by 0.4% to 269 homes, indicating a 6.7-month supply, and the Home Affordability Index rose to 111.5, as Putnam County is still the most affordable area in the region.
In Nassau County, in March 2025, the median price of single-family homes was $515,000, a 12% increase from February. The median days on the market fell 6.5 to 29. Closed sales were up 9.4% to 93, while pending sales rose 15.8% to 117, and new listings jumped by 28.6% to 234. Active inventory rose by 7.4% to 506 homes, a 5.4-month supply. The Home Affordability Index fell slightly to 51, showing a small decrease in relative affordability.
In Baker County, March 2025 showed a decrease in the median home price, falling to $310,000, which is 0.5% lower than February. Homes moved slower with the median days on the market rising 143.6% to 95. Closed sales increased to 16, while pending sales fell to 11, and new listings increased by 6.9% to 31. Active inventory was at 80 homes, providing a 5-month supply. The Home Affordability Index saw a small rise of 3% to 85.5, indicating increased affordability.
* 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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