Northeast Florida’s housing market continued to stabilize in April, with growing inventory giving buyers more choices across the region. While home prices edged up slightly, the overall market showed healthier dynamics as we continue to see many new listings become available. These shifts suggest a move toward a more balanced market, offering opportunities for both buyers and sellers.
The median sales price for single-family homes in Northeast Florida’s six-county region increased by 2.9% since March, rising to $389,000. This caused the Home Affordability Index to fall to a score of 67, a 2.9% decrease from March.
“Buyers and sellers alike must remember that these shifts toward a balanced market are good overall and indicative of a healthy marketplace,” said 2025 NEFAR President Mario Gonzalez.
In April, closed sales for single-family homes totaled 1,825 transactions, while pending sales were at 1,437. There were 3,106 new listings in the month of April.
Since March, the active inventory of single-family homes increased by 10.2% to 9,012 properties. This is a drastic increase from the previous year, as the number of properties has grown exponentially by 24.4% since April 2024. This rise in inventory from 2024 is a positive change for buyers, as they have many options to choose from. The median number of days on the market increased to 44 days, a 29.4% increase from March, indicating homes selling slightly slower than they did last month.
“This increased inventory is a welcomed change for buyers who couldn’t buy a home in the extraordinarily competitive market just a few years ago,” said Gonzalez.
In St. Johns County, April’s median price for single-family homes rose to $557,990, a 1.8% increase from March. Homes spent a median of 46 days on the market. Closed sales increased by 1.1% to 449, with pending sales now at 356.
There were 840 new listings, while active inventory increased by 14% to 2,528 homes, representing a 5.6 -month supply. The Home Affordability Index fell slightly to 47, as St. Johns County remains the most expensive county in the region.
In Duval County, April showed a 5.9% increase since March in the median price of single-family homes, now at $338,920. Sales of homes decreased in speed in April, with the median days on the market rising 32.8 % to 39 days. While closed sales fell 8.3% to 934, pending sales fell 30% to 726.
New listings were at 1,595, and there was a 9.9% climb in active inventory, now at 4,352 homes — a 4.7-month supply. The Home Affordability Index decreased since March by 6.1% to 77.
The Home Affordability Index measures housing affordability for the region. In other words, it measures whether a typical family earns enough to qualify for a mortgage on a typical home, based on current interest rates, median income and median home prices.
A higher number means greater affordability. This index measures affordability factors for all homebuyers making a 20% downpayment. An index of 100 is defined as the point where a median-income family has the exact amount of income needed to purchase a median-priced existing home. An index value higher than 100 means that the family has more than enough income, while a value lower than 100 means that a family doesn’t have enough income to qualify for a mortgage loan.
The source for all data in this article is NEFAR.
