The median price of a single-family home increased 4% in February while the inventory of homes for sale rose 10.7%, 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 February median price of $389,989 is up 1.1% from year ago. The record is $403,000 in May 2024.
There is now a 6.3-month supply of homes in the region, the highest in at least five years, with the active inventory growing from 7,184 to 7,954 homes. The NEFAR Market Review website only goes back to February 2020.
Closed sales rose 8.7% to 1,271, compared with 1,169 in January. However, pending sales fell 16.4% in February.
“While some buyers remain on the fence, others are seizing these conditions to choose exactly the home they want and are able to negotiate with sellers on their terms,” said 2025 NEFAR President Mario Gonzalez in news release.
The Home Affordability Index was worsened to slightly to 66 from 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.
NEFAR’s county breakdown
Baker: The median price fell 2.5% to $311,500. Closed sales fell 28.6% to 10. Active inventory rose 6.7% to 80. The months supply is 8.
Clay: The median price fell 0.2% to $352,900. Closed sales increased by 10.6% to 177. Active inventory increased 10.1% to 1,137. The months supply is 6.4.
Duval: The median price rose 5.4% to $334,000. Closed sales rose 8.5% to 667. Active inventory rose 10.2% to 3,893. The months supply is 5.8.
Nassau: The median price fell 2.7% to $457,450. Closed sales rose 22.4% to 82. Active inventory rose 5.7% to 486. The months supply is 5.9.
Putnam: The median price rose 10.8% to $257,500. Closed sales were unchanged at 32. Active inventory fell 1.1% to 277. The months supply is 8.7.
St. Johns: The median price rose 4.6% to 549,000. Closed sales rose 7.8% to 303. Active inventory rose 15.4% to 2,081.
Permit data
The Northeast Florida Builders Association reported that 655 permits were issued in February for new single-family homes in Baker, Clay, Duval, Nassau and St. Johns counties.
This year trails 2024’s pace showing a two-month total of 1,584 compared with the 2,159 issued during the same period last year.