The median price of a single-family home in the Jacksonville area fell slightly in October while the active inventory of homes for sale rose 1.4%, according to the Northeast Florida Association of Realtors.
NEFAR supplies monthly home sales data for Baker, Clay, Duval, Nassau, Putnam and St. Johns counties.
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The October median price of $385,000 dropped 0.7% from September’s $387,694. The median was down 1.7% from a year ago. The record is $403,000 in May 2024.
There is now a 4.8-month supply of homes in the region, with the active inventory growing 1.4% to 7,903 homes from 7,792 in September. The active inventory hit 8,881 in May, the high mark thus far for 2025.
Closed sales decreased 3.1% to 1,662 compared with 1,716 in September. Pending sales fell 33% last month to 1,110 from 1,656.
The Home Affordability Index rose to 71 from the September rank of 70. The closer the index is to 100, the more able an average family is to afford a house. The index is based on interest rates, median income and median home prices.
NEFAR’s October breakdown by county:
Baker: The median price grew 35.6% to $425,000. Closed sales dropped to 13 from 16 in September. Active inventory declined 4% to 72. The months supply is 5.5.
Clay: The median price increased 0.7% to $362,500. Closed sales fell 1.3% to 231. Active inventory increased 1.3% to 1,144. The months supply is 5.
Duval: The median price slipped 1.5% to $325,000. Closed sales fell 0.5% to 882. Active inventory rose 3.2% to 3,936. The months supply is 4.5.
Nassau: The median price fell 5.1% to $450,000. Closed sales dropped 9.2% to 99. Active inventory dropped 1.4%. The months supply is 4.9.
Putnam: The median price rose 5.3% to $270,000. Closed sales rose 15.8% to 44. Active inventory rose 4.7% to 268. The months supply fell to 6.1.
St. Johns: The median price declined 0.2% to $559,000 from $560,000. Closed sales dropped 10.9% to 393. Active inventory decreased 1.4%. The month’s supply is 5.1.
Permitting falls slightly in September
The Northeast Florida Builders Association reported 690 permits for single-family houses in October, a 1.43% decrease from 700 recorded in September. A year ago, 1,166 permits were issued.
NEFBA records building permit activity in Clay, Duval, Nassau and St. Johns counties.
Since January, NEFBA says 7,622 permits have been issued, down from 11,073 the same time a year ago. That is a 31.16% year-over-year decrease.