The median price of a single-family home in Northeast Florida fell 1.3% in January to $369,900, while sales fell 8.5%.
Each month, the Northeast Florida Association of Realtors releases home sales data for Baker, Clay, Duval, Nassau, Putnam and St. Johns counties.
The median price is down 5.1%, while the inventory of homes available is up 4.4% from a year ago.
Prices are now down 8.9% from the high of $403,000 in May 2024.
Also in January, new listings increased 68.5%, to 2,457 from 1,458, and homes stayed on the market for about 51 days compared with 47 in December.
Falling prices pushed the home affordability index to a five-year high of 92.
The closer the index is to 100, the more an average family can afford to buy a house. That is based on interest rates on a 30-year fixed mortgage, median income and median home prices.
The average home affordability index peaked at 152 in 2020. It has been below 100 since 2022, dropping to 68.5 in 2023, 66.5 in 2024 and 78 in 2025.
Other numbers of interest:
• Closed sales fell 38.8 % to 1,115 in January from 1,823 in December.
• Pending sales dropped 6.4% to 1,163 from 1,242.
• Active inventory grew 4.4% to 6,598 from 6,322.
• Months supply of inventory grew 70.6% to 5.9 from 3.5.
• 97% of sales closed at the list price, and 10.8% of sales were above list price.
“Northeast Florida is moving toward a healthier balance. Increased inventory and improved affordability are giving buyers renewed confidence, while sellers continue to benefit from consistent demand. This reflects a maturing market that supports long-term stability across our region,” NEFAR President Kim Knapp said in a Feb. 11 news release.
Baker: The median price rose from $360,000 to $401,000. The affordability index fell from 94 to 85.5. Homes spent a median of 65 days on the market, a 5.1% decrease. There were 10 closed sales, 11 pending sales and 18 new listings. There was an active inventory of 61 homes, a 6.1-month supply.
Clay: Prices rose 3.4% to $368,000 and houses spent a median of 50 days on the market. There were 181 closed sales, a 27.9% decrease from December, and pending sales were 189, an 8% increase. New listings rose 49.1% to 319, and active inventory was at 921 homes, a 5.1-month supply. The home affordability index was 93.
Duval: The median price was $313,950, down 6.3%. Homes spent a median of 46 days on the market, a 9.5% increase. There were 584 closed sales, a decrease of 36.2%, and 565 pending sales. New listings rose 62.9% to 1,303, and there was an active inventory of 3,321 homes – a 5.7-month supply. The home affordability index rose 7.9% to 109.
Nassau: The median price was $435,000, a 4.4% decrease from December 2025. The median days on the market was 56, a 3.7% increase from the month prior. Closed sales were down 55.5% to 49, while pending sales were up 13.5% to 84, and there were 174 new listings, up 91.2% from December. Active inventory rose 4.2% to 463 homes, a 9.4-month supply. The home affordability index rose to 79, showing an increase in relative affordability.
Putnam: Putnam remains the most affordable county in the region. The January median price of single-family homes dropped by 15.2% to $228,900. The median number of days on the market fell 44.7% to 39 days, reflecting a shorter sales cycle. Closed sales decreased by 36.1% to 23, while pending sales were 26. There were 66 new listings, a 65% increase from December. The active inventory was 216 homes, indicating a 9.3-month supply, and the home affordability index was 149.
St. Johns: The median price fell 0.6% to $546,500. Homes spent a median of 64 days on the market, a 13.4% jump from the previous month. Closed sales were 268, with pending sales 288. There were 577 new listings, 96.9% more than December’s 293. Active inventory was 1,618 homes, representing a six-month supply. The Home Affordability Index was 62.5, as St. Johns remains the most expensive county in the region.
Permitting for single-family homes was at the slowest start since 2017.
The Northeast Florida Builders Association counts the number of monthly permits issued in Clay, Duval, Nassau and St. Johns counties.
January's was 601. In January 2017, regional permitting totaled 524.
In January 2025, 930 permits were issued.
The number was 1,231 in January 2024.
NEFBA officials have cited the uncertainty in material and labor costs, plus rejection of some large residential projects amid community backlash.
The January breakdown is 58 in Clay, 295 in Duval, 54 in Nassau and 194 in St. Johns.