The median price of a single-family home in the region fell 5.8% in January to $376,990, according to the Northeast Florida Association of Realtors.
NEFAR measures sales data from Duval, Baker, Clay, Nassau, Putnam and St. Johns counties.
Closed sales fell 39% to 1,114 and pending sales fell 14.9% to 1,092.
According to NEFAR, cold weather played a role.
“The 'arctic freeze' that found its way to Jacksonville also kept many folks in the warmth of their homes instead of outside looking for their next home, so it’s not surprising that days on the market trended up and pending sales trended down” 2025 NEFAR President Mario Gonzalez said in a news release.
While the median home price fell $23,005, the number of homes on the market surged. The supply of inventory rose 88% to 6.8 months. In December there were 3.6 months of inventory. In January 2024, inventory was 3.8 months.
It is the first time in more than five years that the supply is more than six months. More than six months of supply is seen by Realtors as a market leaning in the buyers’ favor.
“Sellers are acting early here in 2025 and stimulating the market with fresh listings,” Gonzalez said.
More from the NEFAR data:
• New listings rose 53.6%, from 2,175 to 3,340. They are up 41% from a year ago.
• Active inventory increased 14.7% from 6,587 to 7,556. That is 72.6% higher than January 2024 when 4,377 homes were on the market.
• Median days on the market rose 3.9% in January to 53 days. A year ago, it was 48 days.
• The list price received fell 0.5% from 97% to 96.6%
• 9.5% of homes closed over list price. Last year, 10.7% of homes closed over list.
• The median price per square foot fell 2.4% from $207 to $202
The fall in prices boosted the Home Affordability Index by 4.6% to 68. 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.
Building permits
The Northeast Florida Builders Association reports that there were 930 permits pulled in Duval, Clay, Nassau and St. Johns counties in January.
In January 2024, 1,231 permits were issued. Every county except for Duval was down from a year ago. Last month, Duval has 481 permits compared with 278 in the first month of 2024.
More on home sales
Here is the NEFAR county-by-county statistics for January:
Baker: The median price rose 7.4% to $319,500. Closed sales rose 33.3% to 12. Active inventory rose 12.5% to 81. The months' supply is 6.7.
Clay: The median price of $350,500 was down 5.3%. Closed sales dropped 30% to 156. Active inventory rose 9.2% to 1,084. The supply is 6.9 months.
Duval: The median price of $318,000 was down 5.6%. Closed sales dropped 40.2% to 583. Active inventory rose 15.9% to 3,733. The supply is 6.5 months.
Nassau: The median price of 472,500 fell 5.5%. Closed sales fell 44.1% to 62. Active inventory rose 13.8% to 471. The supply is 7.6 months.
Putnam: The median price of $232,500 fell 13.9%. Closed sales rose 42.9% to 30. Active inventory rose 13.1% to 284. The supply is 9.5 months.
St. Johns: The median price of $535,000 fell 2.1%. Closed sales fell 44.4% to 271. Active inventory rose 16.3% to 1,903. The supply is 7 months.