The Northeast Florida housing market experienced shifting dynamics in February, according to the Northeast Florida Association of Realtors (NEFAR). The median sales price for single-family homes rose 5.3% from January, reaching $388,500, while affordability weakened and inventory levels expanded.

Overall Market Trends

Closed sales for single-family homes totaled 1,469, a 26.7% increase from the previous month. Pending sales reached 1,232. New listings increased by 8.9% to 2,282, and the active inventory grew by 3.8% to 6,667 properties. The median time a home spent on the market was 50 days.

Regional Market Performance

Duval County

The median single-family price in Duval County 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%, with 626 pending sales. New listings fell 10.1% to 1,182, while active inventory stood at 3,276 homes, representing a 4.4-month supply. The Home Affordability Index fell 4.5% to 105.

Other County Data

  • St. Johns County: Median price fell 4.8% to $349,000; median days on market were 53.
  • Clay County: Median price fell 3.2% to $542,000; median days on market were 59.
  • Nassau County: Median price rose 18.1% to $270,400; median days on market increased to 56.
  • Baker County: Median price climbed 13.2% to $492,500; median days on market were 60.
  • Putnam County: Median price fell to $244,444; median days on market dropped to 35.

Home Affordability Index

NEFAR’s Home Affordability Index, which measures whether a typical family earns enough to qualify for a mortgage, varied across the region. An index of 100 signifies that a median-income family has sufficient income to purchase a median-priced home. Values above 100 indicate greater affordability, while those below 100 suggest less. Putnam County had the highest index at 138, while St. Johns County recorded the lowest at 63.

NEFAR President’s Statement

“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,” said NEFAR President Kim Knapp. “Inventory growth is giving buyers more options, while sellers are still seeing movement when homes are priced and positioned well.”