FLORIDA – The Northeast Florida housing market showed signs of shifting momentum in February, with the median sales price for single‑family homes rising 5.3% from January to $388,500 even as affordability weakened and inventory expanded, the Northeast Florida Association of Realtors said.
Closed sales for single‑family homes totaled 1,469, up 26.7% from the previous month, while pending sales were 1,232. New listings rose 8.9% to 2,282 and active inventory increased 3.8% to 6,667 properties. The median number of days on the market was 50. The association’s Home Affordability Index for the region fell to 88.
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“With more homes available and buyers taking a little more time to make decisions, we are seeing a more balanced environment emerge across Northeast Florida,” NEFAR President Kim Knapp said. “Inventory growth is giving buyers more options, while sellers are still seeing movement when homes are priced and positioned well.”
Take a look at the interactive county-by-county stats below.
County highlights
- Duval County: Median single‑family price was $326,000, up 4.8% from January. Homes spent a median of 44 days on the market, a 5.4% decrease. Closed sales totaled 745, up 22.9%; pending sales were 626. New listings fell 10.1% to 1,182. Active inventory was 3,276 homes, a 4.4‑month supply. The Home Affordability Index fell 4.5% to 105.
- Clay County: Median price fell 4.8% to $349,000. Median days on market were 53. Closed sales were 199, up 8.2%; pending sales fell 22.8% to 183. New listings dropped 14.1% to 281. Active inventory was 930 homes, a 4.7‑month supply. Home affordability index: 98.
- St. Johns County: Median price was $542,000, down 3.2%. Median days on market were 59. Closed sales were 393; pending sales were 312, down 29.1% from January. New listings numbered 600. Active inventory was 1,692 homes, a 4.3‑month supply. Home affordability index: 63 — the lowest in the region.
- Putnam County: Median price rose 18.1% to $270,400. Median days on market increased 43.6% to 56. Closed sales rose 39.1% to 32; pending sales were 22. New listings fell 25.4% to 50. Active inventory was 217 homes, a 6.8‑month supply. Home affordability index: 127.5.
- Nassau County: Median price climbed 13.2% to $492,500. Median days on market were 60, up 15.4%. Closed sales jumped 66% to 88; pending sales fell 17.4% to 76. New listings were 140, down 20.9%. Active inventory rose 2.4% to 479 homes, a 5.4‑month supply. Home affordability index: 69.5.
- Baker County: Median price fell to $244,444. Median days on market dropped 45.7% to 35. There were 12 closed sales, 13 pending sales and 29 new listings. Active inventory was 73 homes, a 6.1‑month supply. Home affordability index: 138 — the highest in the region.
What the affordability index means
The Home Affordability Index 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. An index of 100 means a median‑income family has exactly the income needed to purchase a median‑priced existing home; a number above 100 indicates greater affordability, and below 100 indicates less.