Northeast Florida’s housing market continued moving toward balance in August as inventory remained elevated, sales slowed and buyers gained negotiating power. The regional median single-family home price fell 1.6% to $397,420, while homes took a median 31 days to sell. Conditions varied significantly across the six-county region.
Key takeaways
- Closed sales fell 10.7% from July to 1,696.
- Active inventory totaled 6,103 homes, equal to a 3.6-month supply.
- Pending sales declined 5.5% to 1,788.
- The regional Home Affordability Index rose to 84.
More listings are giving buyers more time and choice, while sellers increasingly need realistic pricing and patience. The Northeast Florida Association of Realtors said market conditions continue to differ by county, neighborhood and price range.
Prices and sales soften across the region
August marked the second consecutive monthly decline in the regional median price. The median had climbed from February through June before dropping 3.2% from June to July and another 1.6% in August.
New listings totaled 2,247, adding to buyer options. Although active inventory declined from July’s 7,165 homes, it remained high enough to extend marketing timelines and make property preparation more important for sellers.
County results show a divided market
Price and sales trends varied widely across Northeast Florida:
| County | Median price | Monthly change | Closed sales | Months of supply |
|---|---|---|---|---|
| Baker | $394,450 | +12.79% | 16 | 4.9 |
| Clay | $369,000 | +2.5% | 239 | 4.0 |
| Duval | $335,000 | Unchanged | 887 | 3.4 |
| Nassau | $456,207 | +0.7% | 114 | 3.4 |
| Putnam | $280,000 | -11.1% | 42 | 5.0 |
| St. Johns | $573,250 | -2.7% | 398 | 3.5 |
Duval remained the region’s busiest market, though its 887 closings were down 5.8% from July. Nassau posted the strongest sales growth, with closings up 28.1%. St. Johns remained the most expensive county, while Putnam recorded the lowest median price and the largest monthly decline among the larger markets.
Affordability improves, but access remains uneven
The regional Home Affordability Index increased to 84, meaning a median-income household was still below the income level typically needed to purchase a median-priced existing home under the index’s assumptions. Higher scores indicate better affordability.
Clay County posted the strongest affordability score at 87, followed by Duval at 86. Nassau recorded the lowest score at 76. NEFAR also updated its methodology, using county-level median family income rather than a single Jacksonville-area figure, which may affect comparisons with earlier reports.
Buyers gain leverage as sellers adjust
The August figures suggest buyers remain active but more selective. A larger supply of homes, improving affordability and slower sales are creating more opportunity for shoppers who can wait and compare properties.
For sellers, the market places greater emphasis on condition, pricing and flexibility. Homes that are prepared well and priced in line with comparable properties may be better positioned as Northeast Florida continues its shift away from the tight conditions of recent years.