The Northeast Florida housing market continued to evolve in February as activity increased across the region while inventory levels expanded and affordability pressures persisted for many buyers. Market movement varied by county, with some areas experiencing stronger sales activity and rising prices while others saw slight cooling. Changes in listing activity, time on market and affordability highlight a market that remains active but increasingly balanced as buyers and sellers adjust to current conditions.

“With more homes available and buyers taking a little more time to make decisions, we are seeing a more balanced environment emerge across Northeast Florida. Inventory growth is giving buyers more options, while sellers are still seeing movement when homes are priced and positioned well. The overall picture is one of a market that remains active while gradually moving toward greater stability,” said NEFAR President Kim Knapp

In February, the median sales price for single-family homes in Northeast Florida’s six-county region rose 5.3% to $388,500. The Home Affordability Index* in the region fell to 88.

Closed sales for single-family homes totaled 1,469 transactions, a 26.7% increase from the previous month. Meanwhile, pending sales were at 1,232. There were 2,282  new listings in the month of February, an 8.9% increase from January. There was an active inventory of 6,667 properties, an increase of 3.8%. The median number of days on the market was 50.

“In February we saw stronger sales activity and a modest rise in median prices, reflecting continued demand for homes across our six county region. At the same time, affordability remains a concern for many buyers. With inventory continuing to expand and homes spending about 50 days on the market, we are seeing a more balanced pace take shape,” said Knapp.

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