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FLORIDA - The median price of a single-family home in Northeast Florida remained unchanged in June.
According to the Northeast Florida Association of Realtors (NEFAR), the median price for June was $389,000, consistent with May but down 4% compared to June 2024.
The highest recorded price was $403,000 in May 2024.
The active inventory of homes for sale grew by 4.1%, increasing from 8,778 homes in May to 9,135 in June.
This is the highest inventory level in at least five years.
Despite the increase in inventory, closed sales dropped by 3.5%, from 2,035 in May to 1,963 in June.
Pending sales fell by 34.2% from the previous month.
In June, the region had a 4.7-month supply of homes.
This signals a shift from the seller’s market seen during the COVID-19 pandemic to a more balanced market.
The Home Affordability Index remained at 66 in June.
This index, based on interest rates, median income, and median home prices, reflects the affordability of homes for the average family.
The Northeast Florida Builders Association reported a decline in homebuilding permits, with 720 single-family home permits issued in June, a 17.6% drop from May and a 37% decrease compared to June 2024.
In the first half of 2025, 2,393 permits were issued, down 36% from the same period in 2024.
County-level data shows varied trends, with some areas experiencing price drops and others seeing increases.