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”, says NEFAR President Mario Gonzalez

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 tying to go it alone in these waters”, said Gonzalez.

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