The median price of a single-family home decreased 1.8% in March while the inventory of homes for sale rose 10.2%, according to the Northeast Florida Association of Realtors.
NEFAR supplies monthly home sales data for Duval, Baker, Clay, Nassau, Putnam and St. Johns counties.
The March median price of $379,995 is down 2.5% from the same month year ago. The record is $403,000 in May 2024.
There is now a 4.6-month supply of homes in the region, with the active inventory growing from 7,954 to 8,258 homes. It is the highest inventory in at least five years.
Closed sales rose 35.7% to 1,784, compared with 1,271 in February. However, pending sales fell 12.6% in March.
“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 2025 NEFAR President Mario Gonzalez in an April 14 news release.
The Home Affordability Index rose slightly to slightly to 69 from 66. The closer the index is to 100 points the more able an average family is to afford to buy a house. This is based on interest rates, median income and median home prices.
NEFAR’s March county breakdown
Baker: The median price fell 0.5% to $310,000. Closed sales increased 60% to 16. Active inventory rose 5.3% to 80. The months supply is 5.
Clay: The median price increased 7.7% to $379,990. Closed sales increased by 39% to 253. Active inventory increased 5.1% to 1,126. The months supply is 4.5.
Duval: The median price decreased 3.6% to $320,000. Closed sales rose 38.7% to 967. Active inventory rose 10.8% to 4,019. The months supply is 4.2.
Nassau: The median price increased 12% to $515,000. Closed sales rose 9.4% to 93. Active inventory rose 7.4% to 506. The months supply is 5.4.
Putnam: The median price dropped 8.7% to $235,000. Closed sales rose 25% to 40. Active inventory rose 0.4% to 269. The months supply is 6.7.
St. Johns: The median price was unchanged at $549,000. Closed sales rose 34.3% to 415. Active inventory rose 14.2% to 2,258. The months supply is 5.4.