Although sellers remained firmly in the driver’s seat as the first quarter of 2022 came to an end in March, several factors point toward a more moderate and stabilizing real estate market in Northeast Florida.

The sellers’ market continues to be buoyed up by a restricted active inventory of single-family homes, condominiums, and townhouses on the First Coast. A combined total of 2,676 homes were available at the end of March – 7.5% fewer than February.

The combined median sales price of single-family homes, townhouses, and condos in Northeast Florida in March was $350,000 with single-family homes alone climbing to $370,050, a 4.7% increase. Meanwhile, the median sales price of single-family houses, condos, and townhomes combined was $350,000, a 4.5% increase over February and a 25% increase from last year at this time.

Sales remained brisk with only 15 days on the market as the median, a 7% increase from this time last year.

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