In July, the Northeast Florida housing market continued to cool, with slower buyer activity and a more deliberate pace of sales. Sellers entered the market with balanced expectations, while a steady rise in available homes is giving buyers more choices and room to negotiate. Properties spent longer on the market compared to earlier in the year, signaling a shift toward a calmer, more balanced environment across much of the region.
“Buyers who were unsuccessful in buying a home during the strong sellers’ market of the COVID years have been begging for a market shift towards these exact conditions,” said Mario Gonzalez, president of Northeast Florida Association of Realtors (NEFAR).
The median sales price for single-family homes in Northeast Florida’s six-county region rose only slightly to $394,000. This caused the Home Affordability Index to stay at 66.
In July, closed sales for single-family homes totaled 1,849 transactions, a 9.4% decrease since June. Meanwhile pending sales were at 1,292, which was a decrease of 28.9%. There were 2,613 new listings in the month of July, a 4.3% drop since the previous month.
In July, there was an active inventory of 8,882 properties. This is an increase from the previous year, as the number of properties has grown by 10.7% since July 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 was 43.
“These conditions are much more representative of a balanced market, and experienced Realtors can help buyers and sellers navigate much more successfully than trying to go it alone in these waters,” said Gonzalez.
The Home Affordability Index measures housing affordability for the region. Specifically, 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.
In St. Johns County, the July 2025 median price for single-family homes increased to $592,000, a 2.1% increase from June. Homes spent a median of 54 days on the market, a 3.8% increase since the previous month. Closed sales decreased by 7.7% to 468, with pending sales at 322. There were 713 new listings, 3.6% more than June. Active inventory was at 2,549 homes, representing a 5.4-month supply. The Home Affordability Index fell slightly to 44, as St. Johns County remains the most expensive county in the region.
In Duval County, July showed the median price of single-family homes was $329,000. In July, homes in Duval County spent a median of 38 days on the market. There were 947 closed sales, and 659 pending sales. New listings fell 9.7% to 1,300, and there was an active inventory of 4,243 homes — a 4.5-month supply. The Home Affordability Index rose slightly to 79.
Source: Northeast Florida Association of Realtors
