The Northeast Florida housing market showed signs of renewed activity in March as home prices continued a modest upward trend while buyer demand strengthened. Across the region’s six counties, single-family homes saw a slight rise in median price compared with the previous month, even as affordability slipped somewhat. Sales activity picked up notably, with a strong increase in completed transactions and steady pending sales signaling continued buyer interest heading into spring. At the same time, more sellers entered the market, boosting the number of new listings and expanding the overall inventory of available homes. With properties spending less time on the market, the data reflects a market that is gaining momentum while gradually balancing increased supply with sustained demand.

“March’s numbers show a market that is gaining momentum as we move into the spring season. Sales activity is up, more sellers are entering the market and buyers are continuing to engage even as affordability remains a factor. This is a positive sign as we head into the spring, with the market finding a stronger and more sustainable rhythm,”said NEFAR President, Kim Knapp.

In March, the median sales price for single-family homes in Northeast Florida’s six-county region rose 1.5% to $395,000. The Home Affordability Index* in the region fell by 2.3% to 86. Closed sales for single-family homes totaled 1,847 transactions, a 22.6% increase from the previous month. Meanwhile, pending sales were at 1,395. There were 2,663  new listings in the month of March, a 14.6% increase from February. There was an active inventory of 6,901 properties, an increase of 9.1%. The median number of days on the market was 40, a 20% decline.

“March’s numbers reflect a market that is gaining strength as we head into the spring season. Prices increased modestly while sales activity rose significantly, showing that buyer demand remains strong across Northeast Florida. At the same time, increased listings and growing inventory are creating more opportunities, even as affordability continues to be a consideration for many buyers,” said Knapp.

NEFAR’s market reports are available at nefar.com.