Northeast Florida Housing Market Trends: March 2025 Overview
Northeast Florida experienced a mixed bag of housing market trends in March, with a notable year-on-year decline in sales but a positive uptick compared to February. This dynamic market reflects the evolving landscape for buyers and sellers alike.
Key Housing Market Statistics for March 2025
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Closed Sales: 1,784 single-family homes sold in March
- Down 9.9% from March 2024 (1,980 homes)
- Up 35.7% from February (1,315 homes)
- Median Sales Price: $379,995
- Down 1.8% from February ($387,000)
- Down 2.5% from March 2024 ($389,000)
Market Insights
Mario Gonzalez, the 2025 President of the Northeast Florida Association of Realtors (NEFAR), emphasized that spring is shaping up to be a strong season for buyers. More homes are hitting the market, leading to greater choice and increased flexibility on prices, terms, and repairs.
- Active Inventory: 8,258 homes
- Up 63.7% from March 2024 (5,046 homes)
- Up 10.2% from February 2025 (7,491 homes)
Buyer’s Market Emerges
While the surge in inventory may indicate a shift towards a buyer’s market, Gonzalez noted that home prices remain stubbornly high. The current economic conditions, including fluctuating mortgage interest rates, keep the market poised for unique challenges.
“While interest rates remain in line with pre-COVID levels, today’s higher home prices have become the new normal,” said Gonzalez. “Recent price dips have sparked renewed buyer interest, with a noticeable jump in showing requests and open house traffic.”
County-Specific Trends
Duval County
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Homes Sold: 967
- Up 38.7% from February (697 homes)
- Down 3.3% from March 2024 (1,000 homes)
- Median Home Price: $320,000
- Down 7.8% from March 2024
- Down 3.6% from February
St. Johns County
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Homes Sold: 415
- Down 19.9% from March 2024
- Up 34.3% from February
- Median Sales Price: $549,000 (steady since February)
- Up 1.7% from March 2024
Nassau County
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Median Price: $515,000
- Up 18.4% from March 2024
- Up 12% from February
- Homes Sold: 93
- Down 38.4% from March 2024
- Up 9.4% from February
Clay County
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Homes Sold: 253
- Up 39% from February
- Down 2.7% from March 2024
- Median Price: $379,990
- Up 8.9% from last year
Putnam County
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Homes Sold: 40
- Same as March 2024
- Up 25% from February
- Median Price: $235,000
- Up 2.2% from last year
- Down 8.7% from February
Baker County
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Homes Sold: 16
- Up 45.5% from March 2024
- Up 60% from February
- Median Price: $310,000
- Up 5.1% compared to a year ago
Conclusion
The housing market in Northeast Florida reflects a complex interplay of trends as we move into spring 2025. While the overall sales figures indicate a downward trend compared to last year, recent increases in inventory and buyer interest suggest an evolving market landscape that could favor those looking to buy. As always, prospective buyers and sellers are encouraged to stay informed and consider their options carefully in this dynamic market.
For more insights and detailed analyses, keep watching this space as we continue to track Northeast Florida’s real estate trends!