The median price of a single-family home in the Jacksonville metro market for the first time is more than $400,000, according to a monthly report from the Northeast Florida Association of Realtors.
May home sales numbers in Duval, Baker, Clay, Nassau, Putnam and St. Johns counties brought the median price to a record $400,203. That is 3.1% more than the May 2023 median of $388,000. The median price was up 0.3% from April 2024.
The previous record was $400,000 set in July 2022.
Here are the median sales prices by county:
Duval: $345,000, up 4.5% from a year ago. Unchanged from April.
Baker: $315,000, up 8.6% from a year ago and 3.3% from April.
Clay: $365,000, up 1.4% from a year ago and 3.4% from April.
Nassau: $418,000, up 0.7% from a year ago, down 13.9% from April.
Putnam: $262,500, up 5% from a year ago and 7.2% in April.
St. Johns: $564,158, up 0.6% from a year ago, down 3.5% from April.
St. Johns has long been the area’s most expensive housing market, with median sale prices of more than $500,000 for 11 of the past 12 months. The price dipped to $495,000 in February.
“Our last month of spring saw our area median prices rise slightly and cross a median price of $400,000 for the first time,” said 2024 NEFAR President Rory Dubin in a June 10 news release.
“This still places the greater Jacksonville area as one of the most affordable places to work, live, and travel of any metro area in Florida and the Southeast.”
More from the NEFAR report:
• The Home Affordability Index was 63, down 8.7% from a year ago and 1.6% from April. An index of 100 is defined as the point where a median-income family has the exact amount of income needed to purchase a median-priced existing home.
• The number of closings on single-family homes in the region rose to 610 from 505 in April.
• Pending sales in May fell to 408 from 536 in April.
• New listings stayed relatively flat with 899 in May and 925 in April.
• The median number of days for a home to be on the market was 44, up from 37 in April.
• The 3.7-month supply of houses in May was down from a 3.9-month supply in April.
• Active inventory in May was 2,285 compared with 1,985 in April.