As 2025 progresses, the Northeast Florida housing market continues to follow seasonal patterns.
In January, the market saw a decrease in closed sales, which follows annual trends, since most homeowners urgently settled into their new homes in December before the year ended. Meanwhile, pending sales plummeted in January, reflecting the typical lull in sales this time of year that was expected for the beginning of 2025.
Interestingly, sales price is up a bit from this time last year, while dollars per square foot is down, which usually means it’s bigger houses that are selling right now. New listings are up quite a bit, giving buyers plenty of options for homes to purchase.
The median sales price for single-family homes in Northeast Florida’s six-county region decreased by 5.8% compared to December, falling to $376,990. Fortunately, this brought the Home Affordability Index up to a score of 68, a 4.6% increase from December.
“Additionally, the ‘arctic freeze’ that found its way to Jacksonville also kept many folks in the warmth of their homes instead of outside looking for their next home, so it’s not surprising that days on the market trended up and pending sales trended down,” said 2025 NEFAR President Mario Gonzalez.
In January, closed sales for single-family homes fell significantly by 39% month-over-month, totaling 1,114 transactions, while pending sales also saw a decline of 14.9%, sitting at 1,092. New listings rose 53.6 % from December to January, recording 3,340 homes.
Since December, the active inventory of single-family homes increased by 14.7% to 7,556 properties. However, this is a drastic increase from the previous year, as the number of properties has skyrocketed by 72.6% since January 2024.
This rise in inventory from 2024 is a welcome development for buyers, providing a wider range of options. The median number of days on the market increased to 53 days, a 3.9% increase from December, indicating slightly slower turnover as the market adjusts to seasonal conditions.
“Sellers are acting early here in 2025 and stimulating the market with fresh listings,” said Gonzalez.
In St. Johns County, the January 2025 median price for single-family homes decreased by 2.1% from December 2024 to $535,000. The market pace slowed, with median days on the market falling 8.1% from December to 63. Closed sales decreased by 44.4% to 271, and pending sales experienced a decline of 16.8% to 242. New listings rose by 88.9% to 801, while active inventory increased by 16.3% to 1,903 homes, representing a seven-month supply. The Home Affordability Index remained the same at 48, as St. Johns County continues to be one of the most expensive areas in the region.
In Duval County, January showed a 5.6% decrease since December in the median price of single-family homes, now at $318,000. Sales of homes decreased in January, with the median days on the market rising 2.3 % to 45 days. While closed sales fell 40.2% to 583, pending fell by 20.8% to 555. Notably, new listings rose 42.7% to 1,757. Similarly, there was a 15.9 % climb in active inventory, now at 3,733 homes — a 6.4-month supply. The Home Affordability Index increased since December by 3.9% to 80.
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 then 100 means that the family has more than enough income, while a value lower than100 means that a family doesn’t have enough income to qualify for a mortgage loan.
