The median price of a single-family home increased 0.2% in May while the inventory of homes for sale rose 6.6%, 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 May median price of $388,995 is down 3.7% from the same month a 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 6.6% from 8,577 to 9,147 homes. It is the highest inventory in at least five years.
Closed sales rose 3.5% to 1,984, compared with 1,917 in April and pending sales fell 28.2% last month.
“In general, we are seeing the shift to a more balanced market for both buyers and sellers,” said 2025 NEFAR President Mario Gonzalez in a June 10 news release.
The Home Affordability Index fell slightly to 66 as compared to 67 in April. The closer the index is to 100 points, the more able an average family is to afford to buy a house. That is based on interest rates, median income and median home prices.
NEFAR’s May breakdown by county
Baker: The median price fell 13.1% to $265,000. Closed sales decreased 15.4% to 11. Active inventory rose 18.9% to 107. The months supply is 9.7.
Clay: The median price rose 3.7% to $367,990. Closed sales were up by 3.7% to 282. Active inventory increased 7.3% to 1,230. The months supply is 4.4.
Duval: The median price fell 1.5% to $329,990. Closed sales rose 0.6% to 991. Active inventory rose 5.1% to 4,336. The months supply is 4.4.
Nassau: The median price dropped 3.5% to $463,400. Closed sales dropped 9.2% to 119. Active inventory fell 0.7% to 541. The months supply is 4.5.
Putnam: The median price increased 11.3% to $270,000. Closed sales increased 6.3% to 51. Active inventory rose 1.7% to 297. The months supply is 5.8.
St. Johns: The median price decreased 3.0% to $550,000. Closed sales rose 13.2% to 530. Active inventory increased 10.8% to 2,636. The months supply is 5.0.
In May, building permits for single-family homes was 874 in May, up 9.39% from 799 in April, according to the data from the Northeast Florida Builders Association.
NEFBA gathers permit data from Clay, Duval, Nassau and St. Johns counties.
This is the fourth consecutive month of increased permitting activity. The year started with 930 in January.
The county breakdown for May is Clay, 73; Duval, 293; Nassau, 88; and St. Johns, 420.
Thus far, 3,945 permits have been issued in 2025.