JACKSONVILLE, Fla. – Median prices for single-family homes fell in the majority of Northeast Florida counties in May, according to a new report from the Northeast Florida Association of Realtors (NEFAR).
In Duval County, the median home price fell from $338,920 in April to $329,990 in May. There was also a decrease in median price in St. Johns County, Nassau County and Baker counties, according to NEFAR.
But prices were up in Clay and Putnam counties. In Clay County in May, the median price for single-family homes increased by 3.7% from April to $367,990. In Putnam County, there was a big jump, where the median price of single-family homes rose to $270,000, an 11.3% increase since April.
Overall, according to NEFAR, home prices edged slightly upward, leading to a small dip in affordability across the region.
NEFAR said Northeast Florida’s housing market continued to show a blend of growth and shifting dynamics.
Fewer new listings came to market, but the total number of homes available continued to climb, providing buyers with more choices.
“In general, we are seeing the shift to a more balanced market for both buyers and sellers,” NEFAR President Mario Gonzalez said.
Since April, the active inventory of single-family homes increased by 6.6% to 9,147 properties.
“This is also a drastic increase from the previous year, as the number of properties has grown exponentially by 20.1% since May 2024,” NEFAR said in a news release.
This rise in inventory from 2024 is a positive change for buyers, NEFAR said, as they have many options to choose from.
“These changes may continue to signal more sellers to choose to list their home before things shift more to potentially favoring buyers,” said Gonzalez.