JACKSONVILLE, Fla. – Home sales in Northeast Florida picked up momentum in March as median prices rose modestly and more sellers listed properties, boosting available inventory across the six-county region, the Northeast Florida Association of Realtors reported Thursday.
The median sales price for single-family homes in the region rose 1.5% from February to $395,000 in March. The Home Affordability Index fell 2.3% to 86. Closed sales for single-family homes totaled 1,847, a 22.6% increase from the previous month, while pending sales stood at 1,395. New listings increased 14.6% to 2,663, and active inventory rose 9.1% to 6,901 properties. The median number of days on the market fell 20% to 40 days.
Recommended Videos
“March’s numbers show a market that is gaining momentum as we move into the spring season,” NEFAR President Kim Knapp said. “Sales activity is up, more sellers are entering the market and buyers are continuing to engage even as affordability remains a factor.”
Click through the interactive map below that shows county-by-county stats.
By county
- Duval County: The median price for single-family homes was $335,000, up 2.8% from February. Homes spent a median 35 days on the market, down 20.5%. Closed sales rose 24.7% to 955, with 674 pending sales. New listings climbed 9.3% to 1,314, and active inventory was 3,350 homes, a 3.5-month supply. The Home Affordability Index fell 3.8% to 101.
- Clay County: The median price increased 4.3% to $364,990. Median days on market were 52. Closed sales rose 33.8% to 269, with 237 pending. New listings jumped 47.7% to 418, and active inventory was 982 homes, a 3.7-month supply. The affordability index was 93.
- St. Johns County: The median price rose 1.2% to $550,000. Median days on market fell 21.2% to 47. Closed sales increased 14.5% to 458, with 347 pending. There were 690 new listings and 1,782 active homes, a 3.9-month supply. The affordability index was 62, the lowest in the region.
- Putnam County: The median price fell 32.2% to $186,950. Median days on market decreased 35.6% to 34. Closed sales were 32, with 23 pending. New listings rose 9.6% to 57. Active inventory was 228 homes, a 7.1-month supply. The affordability index was 182, the highest in the region.
- Nassau County: The median price was $459,500, down 5.3% from February. Median days on market fell 15% to 51. Closed sales rose 20% to 114, and pending sales increased 19.1% to 106. There were 157 new listings and 477 active homes, a 4.2-month supply. The affordability index rose 4.2% to 74.
- Baker County: The median price climbed 41.8% to $355,000. Median days on market increased 131.6% to 66. Closed sales were 19, with eight pending, and 27 new listings. Active inventory was 82 homes, a 4.3-month supply. The affordability index fell to 96.
The Home Affordability Index measures whether a typical family earns enough to qualify for a mortgage on a median-priced existing 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 home; a value above 100 indicates greater affordability, and a value below 100 indicates less affordability.
The Northeast Florida Association of Realtors, based in Jacksonville, represents more than 13,000 members across the region and operates the Northeast Florida Multiple Listing Service (realMLS).