JACKSONVILLE, Fla. – Home buying in Northeast Florida took a nearly 10% decline in August, according to a new report from the Northeast Florida Association of Realtors.
It’s a trend that the NFAR President Mario Gonzalez said is expected during back-to-school time.
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NFAR said the housing market was adjusting as buyers and sellers dealt with changing conditions in the region.
The median single-family home price in Northeast Florida rose 1.1% to $398,995. Closed sales for single-family homes totaled 1,730 transactions, a 9.9% decrease from July.
Pending sales stood at 1,227, experiencing a 31.8% decrease, and there were 2,431 new listings in August, a 7.9% drop from July.
On the other hand, there were 8,619 properties of active inventory, which was an increase from the previous year as well.
That rise gave homebuyers more variety in their shopping.
In Duval County, the median price increased 4.5%, bringing single-family homes to $340,000. Putnam and Nassau counties also saw increases in the median price.
St. Johns, Clay, and Baker counties experienced decreases in the median price. St. Johns County dropped 7.4% with single-family homes decreasing to $550,000.
While there was a slight decline in purchases, inventory continued to build compared to last year, according to the NFAR.
View the full report below our interactive map:
